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Announcement

IRONPLANET AVERAGES 10,000 BIDDERS EACH AUCTION IN Q1

PLEASANTON, Calif. - April 5, 2004 - IronPlanet (www.ironplanet.com), the third-largest construction equipment auction company in North America, closed the first quarter, averaging 10,000 registered bidders attending each auction.

Among the auctions within the first quarter of 2004, IronPlanet sold $21.5 million of equipment and trucks, showing 23% growth over the same quarter last year. With over 200 pieces and 10,000 bidders, each auction averaged 50 registered bidders per piece. Bidders attended from 50 states and over 30 other countries.

"The acceptance of the internet's role in the construction equipment industry has been phenomenal," stated Mike Rich, vice president of sales at IronPlanet. "Our average number of bidders greatly exceeds the traditional auctions based on my past experience. I think this is a reflection of the industry's acceptance of our guaranteed inspection reports, the convenience of buying from anywhere in the world, the outstanding customer support in completing their transaction, as well as the trust inspired by the IronPlanet name."

Founded in 1999, IronPlanet has grown to be one of the biggest auction companies of used construction equipment and trucks. Backed by Caterpillar, Komatsu, and Volvo, the company sells equipment through online auctions. IronPlanet is the only auction company to provide detailed, guaranteed inspection reports for each piece of used equipment. If you are interested in buying or selling used equipment, go to www.ironplanet.com.