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Announcement

IronPlanet Completes $10 Million Auction

PLEASANTON, Calif. – August 2, 2005 – IronPlanet (www.ironplanet.com), the third-largest auction company of heavy equipment in North America, sold $10 million of equipment and trucks in its July 28 auction.

“It was a great sale in the heat of the summer, which is very difficult in the traditional auction world,” stated Mike Rich, vice-president of sales for IronPlanet.

The auction drew over 8,500 registered auction attendees from across the U.S. and 21 other countries. Twenty-eight bidders vied for a 1984 Caterpillar 950E wheel loader that sold for $39,000. A 2004 Caterpillar 980G II wheel loader sold for the highest bid of $284,000. A 1998 Komatsu PC200-6 track excavator located in Pennsylvania sold to a buyer in United Arab Emirates for $45,000.

“The value of our guaranteed inspection reports surpasses international borders,” said Bob Alleger, CEO of IronPlanet. “Buyers participated from as far away as the Netherlands, Nigeria, and Columbia.”

Founded in 1999, IronPlanet has grown to be the third-largest auction company of heavy equipment. With investors such as Caterpillar, Komatsu and Volvo, IronPlanet sells a broad range of used equipment including construction, agricultural and trucks through online auctions. IronPlanet is the only auction company to provide detailed, guaranteed inspection reports for used equipment in its auctions. If you are interested in buying or selling used equipment, go to www.ironplanet.com.