Press Release

Ritchie Bros. Auctioneers (TSX: RBA)(NYSE: RBA), the world’s largest industrial auctioneer, today announced that it conducted a large two-day auction at its permanent auction site in Houston, Texas. The unreserved public auction, which sold over 2,500 items on August 24 and 25, 2006, generated gross auction sales in excess of US$20 million.

“With customers from around the world bidding during the auction, we continue to see a strong market in this area,” said Alan McVicker, Ritchie Bros. Auctioneers Regional Manager. “In addition to our worldwide marketing efforts, which attract bidders from around the world, the location of our auction site also helps to attract buyers and sellers because of its proximity to one of the largest port cities in the USA.”

Over 2,000 registered bidders from 33 countries, 46 states, and 9 Canadian provinces participated in the August 24 and 25, 2006 auction.

Seven hundred and forty-eight internet bidders registered to use the Company’s rbauctionBid-Live real-time bidding service. Out of these bidders, one hundred and fifteen internet buyers purchased over US$3 million worth of truck and equipment items at the two-day sale. Internet participants registered from 26 different countries, 44 states, and nine Canadian provinces.

There are over 41 unreserved industrial auctions and 10 unreserved agricultural auctions in the upcoming Ritchie Bros. auction calendar. Details on all upcoming Ritchie Bros. auctions, including equipment that will be sold, are available on www.rbauction.com.

Posted: 08|28|06 at 3:13 pm. Filed under: US News.