Press Release

DOVEBID® EXPANDS MANAGEMENT TEAM WITH THREE VICE PRESIDENTS

VPs of Business Development, Strategy, Human Resources
Support B2B Auction Experts

Foster City, Calif. (June 15 2000) —DoveBid, Inc., a leader in Webcast and online business-to-business capital asset auctions, today announced the addition of three new vice presidents to its management team. Tim Reed joins the senior management team as vice president of business development, Daphne Li as vice president of strategy, and Lynn Corsiglia as vice president of human resources.

This announcement further reinforces DoveBid's successful click-and-mortar strategy, following on the company's recent acquisition of eight capital asset firms active in auctioneering, appraisal and asset management.

"Tim, Daphne, and Lynn provide exceptional experience to help DoveBid fuel and manage growth as we continue our expansion of online auction services," said Jeff Crowe, president and chief operating officer. "Their background as veterans of high-growth businesses will supplement the 60-plus years of auction expertise we already provide our customers. They make a fine addition to our unique team of auctioneers, capital asset appraisers, database veterans and Web developers."

Executive Profiles
Tim Reed (vice president of business development) has a proven record of crafting and developing businesses partnerships that lead to sustained revenue growth. He joins DoveBid after a long stint as vice president of marketing and business development with Engage I/PRO, a CMGI company. During Tim's tenure with Engage I/PRO, he played a pivotal role in growing the company's revenue by a factor of 15 and increasing the client base by 500%. Tim was responsible for establishing key client relationships with AOL Netscape, Disney and Excite.

Daphne Li (vice president of strategy) is a seasoned e-commerce professional. Before joining DoveBid, she led a team of management consultants with Bain & Company, a global strategy consulting firm. She has managed e-commerce and business acceleration teams on the West Coast of the United States, and worked with start-ups and Fortune 500 companies to develop new e-commerce business models and strategies. She is an acknowledged expert on e-commerce customer analysis and strategies, organizational design, and B2B marketplace models.

Lynn Butler Corsiglia (vice president of human resources) has over 20 years of human resource experience. She has held positions in high-tech companies such as Calico Commerce, Netscape, Sybase, Ungermann-Bass and Intel. In her various capacities, Corsiglia has proven herself an expert in organizational growth, development and management throughout every organizational entity. Prior to joining DoveBid, Corsiglia spent two years as vice president of human resources at Calico. She staffed the firm for a successful public offering and oversaw their significant growth through mergers and acquisitions and aggressive hiring.

About DoveBid
DoveBid, Inc. is a leader in Webcast and online business-to-business capital asset auctions. With millions of dollars of business assets available at DoveBid's Website, a regular schedule of Webcast auctions, an extensive base of large corporate customers, and an array of value-added services, DoveBid is creating a liquid, global market for capital assets. Headquartered in Foster City, Calif., DoveBid has over 300 auction professionals in more than a dozen corporate and partner offices throughout the United States, Europe and Asia.

For more information, visit DoveBid at http://www.dovebid.com or call company headquarters in Foster City, California, at (800) 665-1042 or (650) 571-7400. DoveBid and the DoveBid logo are trademarks of DoveBid, Inc.

Contacts:
Shanta Avadani
Associate Marketing Manager
DoveBid, Inc.
(650) 356-6516
savadani@dovebid.com

Lisa Hawes (for media inquiries)
Sr. Account Executive
Sterling Communications
(408) 441-4100
lhawes@sterlingpr.com



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