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Ritchie Bros. Wraps up Large Three-day European Auction

VANCOUVER, British Columbia--Oct. 6, 2003--A Ritchie Bros. auction held last week at the Company's permanent auction facility in the Port of Moerdijk (Rotterdam), The Netherlands, generated gross auction sales of over EUR 42 million (US$49 million). More than 1,400 registered bidders competed on over 3,200 equipment items and trucks in the unreserved industrial equipment auction.

"The quantity and quality of equipment and vehicles allowed us to attract buyers from all around the world - we had people from as far away as Russia, Uganda, Morocco, Gabon, and The Congo purchase equipment at the auction," stated Guylain Turgeon, Managing Director, Europe for Ritchie Bros. Auctioneers. "The demand for used equipment appears to remain quite strong."

Bidders from over 60 countries throughout Europe, the Middle East, Africa, Asia, Australia, and North America, including 118 Internet bidders, participated at the auction on October 1 - 3. Buyers from outside The Netherlands made more than 90% of the equipment purchases.

There are 38 auctions listed on the Ritchie Bros. auction calendar, including other European auctions to be held in Greece, Spain, and the Netherlands later this year, and the Company's first-ever auction in South Africa, scheduled to be held in Durban on November 25. Current equipment listings and information on all upcoming auctions are located on the Company's web site, www.rbauction.com.

Ritchie Bros. is the world's leading auctioneer of industrial equipment, operating through over 90 locations around the world. The Company sells, through unreserved public auctions, a broad range of industrial equipment including equipment utilized in the construction, transportation, marine, mining, forestry, petroleum and agricultural industries. Ritchie Bros. is a public company; its common shares trade on the New York Stock Exchange under the ticker symbol RBA. It maintains a web site at rbauction.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.