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Announcement

IronPlanet Completes $2 Million One-Owner Auction

PLEASANTON, Calif. – September 21, 2005 – IronPlanet (www.ironplanet.com), the third-largest auction company of heavy equipment in North America, sold $2 million of equipment in its Sept. 9 auction for Martin K. Eby Construction in Florida.

Martin K. Eby Construction discontinued its Florida operations and commissioned IronPlanet to sell its well-maintained equipment and rolling stock.

“This is another example of how our auctions are a better solution for one-owner liquidations,” stated Pete Gipson, regional sales manager for IronPlanet. “No transportation costs, no waiting for a local auction, no problem.”

The auction drew over 6,000 registered auction attendees from across the U.S. and seven other countries. Thirty-six bidders vied for a 2002 Chevrolet Trailblazer LS that sold for $13,000. A 2001 Volvo L90D wheel loader sold for the highest bid of $79,000. A bidder in United Arab Emirates won two Caterpillar 140G motor graders: a 1992 model for $65,000 and a 1990 model for $63,000.

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 auction. If you are interested in buying or selling used equipment, go to www.ironplanet.com.