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Ritchie Bros. to conduct its first unreserved heavy equipment auction in Poland

10/27/2008

FOR IMMEDIATE RELEASE: Monday, October 27, 2008

KATOWICE, POLAND (October 27, 2008) – Ritchie Bros. Auctioneers (www.rbauction.com), the world's largest auctioneer of industrial equipment, will conduct its first ever auction in Poland on November 14, 2008. The one-day unreserved public auction in the city of Sosnowiec (near Katowice) features a large selection of late model excavators and other equipment from U.K.-based H.E. Services (Plant Hire) Ltd. and other owners. Like every Ritchie Bros. auction, the Katowice auction will be strictly unreserved, meaning there will be no reserves or minimum bids on any item being sold. Every piece of equipment will be sold to the highest bidder on auction day, regardless of price. Ritchie Bros. has been conducting unreserved auctions since 1958 and now operates in more than 25 countries worldwide.

"We're excited to be bringing our unreserved auction methods to equipment buyers and sellers in Poland," said Brian Butzelaar, Ritchie Bros. Divisional Manager. "We've been serving a growing number of Polish customers since establishing an office here in 2005, so it made sense to organize an auction here – our first auction in Poland. Many of our Polish customers travel to bid in person at our auctions in other parts of the world, and a growing number use our real-time internet bidding service to participate online. Having an auction closer to home will give our Polish buyers and sellers even greater access to the global equipment marketplace."

H.E. Services is the largest specialist excavator hire company in the U.K., with a fleet of between 2,500 and 3,000 machines. The company has been buying and selling equipment at Ritchie Bros. auctions since the mid-1990s. Among the 180+ equipment items being sold by H.E. Services at the November 14 auction in Katowice, Poland are: excavators (mini, midi and hydraulic), dump trucks, loader backhoes and telescopic forklifts.

"We had a large selection of young, well-maintained machines surplus to our fleet that are very suitable for the Polish market, which is why we chose to sell them at the upcoming auction," said Hugh Edeleanu, Chairman of H. E. Services. "We service our machines right on schedule, so the interested buyers at the auction can be sure that they are bidding on equipment that has been well looked after and maintained – at the price they are willing to pay. We don't know what everything will be sold for, because the auction will be unreserved, but we do know that every machine will be sold on auction day for a fair market price."

Equipment is still being added to this auction. Equipment owners can contact the Katowice auction site at +48.126.593040 to discuss having their surplus equipment sold at the auction on November 14, 2008.

Auction details:

  • Location: Expo Silesia, ul. Braci Mieroszewskich 124, Sosnowiec, Poland (site phone: +48.126.593040).
  • Time and date: 09:00 Friday, November 14, 2008.
  • The auction is open to the public; registration to bid is free.
  • The registration counter at the auction site opens several days before the auction; bidders can also register on auction day. Photo identification is required to register.
  • Interested buyers can register to bid online using Ritchie Bros.' real-time internet bidding service, rbauctionBid-Live. First-time internet bidders should register at www.rbauction.com 3 – 4 days before the auction.
  • Further auction information, including equipment details and photos, can be found on the Ritchie Bros. web site at www.rbauction.com/auction_locations_pages/location_katowice_pol_2008338.jsp?auction_id=2008338. Interested buyers can also visit the auction site to test and inspect equipment items prior to the auction.
  • Katowice is located in southern Poland, 42 miles (67 km) northwest of Krakow and 162 miles (260 km) southwest of the capital of Warsaw.

About Ritchie Bros.
Established in 1958, Ritchie Bros. Auctioneers (NYSE and TSX: RBA) is the world's largest industrial auctioneer, selling more equipment to on-site and online bidders than any other company in the world. The Company has over 110 locations in more than 25 countries including 38 auction sites worldwide. Ritchie Bros. sells, through unreserved public auctions, a broad range of used and unused industrial assets, including equipment, trucks and other assets utilized in the construction, transportation, agricultural, material handling, mining, forestry, petroleum and marine industries. The Company maintains a web site at www.rbauction.com and sponsors an equipment wiki at www.RitchieWiki.com.

Investors and potential investors should note that this information may not be indicative of the overall financial performance of the Company for this or any period.

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For more information contact:
Kim Schulz, Corporate Communications Manager, Ritchie Bros. Auctioneers
Head office tel: 1.800.663.8457 or mobile: +1.604.788.5379 or email: kschulz@rbauction.com
Or
Gary Seybold, Regional Manager, Ritchie Bros. Auctioneers
Orlando auction site tel: +1.863.420.9919

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