Online Auction Record $267,000 Paid for Used Caterpillar Off-Highway Truck

IronPlanet Breaks Own Record in July 12th Auction PLEASANTON, Calif., July 16 The record for the highest price paid for used heavy equipment in an online auction fell, twice, on July 12th when IronPlanet sold two 2000 Caterpillar 771D off-highway quarry trucks to two different buyers, the first for $267,000 and the second for $264,000. Both pieces were sold on the basis of an independent, insured inspection report from DynCorpServices posted on IronPlanet's web site (http://www.ironplanet.com). Neither buyer physically inspected the trucks before bidding and buying. Seven different bidders competed for these trucks. The previous record for the highest price paid for used heavy equipment in an online auction was $181,000 for a 1999 Caterpillar 345BL excavator in IronPlanet's online auction on June 14, 2001. The average sale price of equipment in IronPlanet's online auctions is over $43,000. There are multiple ways for used equipment buyers to participate in IronPlanet's online auctions -- by placing PriorityBids (through the web site or by fax) in advance of the auction and/or by bidding during the auction through the site or by fax. Equipment is sold to the highest bidder and there are no hidden reserves on any IronPlanet auction pieces. In its July 12 online auction, IronPlanet sold 26 pieces of used heavy equipment for over $1.4 million. IronPlanet has sold over $10.9 million worth of used equipment through online auctions to date in 2001, and over $15.5 million since the company's first auction in April 2000. IronPlanet will hold the largest auction in the company's history on Thursday, July 26 with over 40 pieces of used heavy equipment scheduled to be auctioned starting at 9 a.m. PDT. IronPlanet has 11 upcoming online auctions scheduled for the remainder of 2001, including July 26, Aug. 9 and Aug. 23. About IronPlanet IronPlanet (http://www.ironplanet.com) was founded in 1999 to provide a full-service online marketplace for the buyers and sellers of used heavy equipment. In addition to significantly reducing the time and cost to buy or sell this equipment, IronPlanet greatly reduces risk to customers by providing independent, insured inspection reports to buyers for all equipment and by credit qualifying buyers before they bid. IronPlanet's ISO 9002 certified Customer Care team enhances the buyer/seller experience by working one-on-one with customers to handle entire transactions, including financing and transportation, which allows customers to buy with confidence. IronPlanet is headquartered in Pleasanton, California.