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Press Release DoveBid® Sells Capital Assets in Leading B2B Auctioneer Announces International Webcast Auction Success FOSTER CITY, California. (October 16, 2000) - DoveBid, Inc., a leader in Webcast and online capital asset auctions and valuation services, today announced that it completed the sale of over $3.6 million of capital assets in two Asian Webcast auctions that took place in September. In Osaka, Japan, DoveBid sold $1.8 million of capital assets on behalf of Read-Rite Corporation, and in Penang, Malaysia, DoveBid sold over $1.8 million of capital assets on behalf of Applied Magnetics (M) Sdn. Bhd. In addition to conducting the auctions live in Asia, DoveBid broadcast both auctions live over the Internet, and simulcast the auctions live from the DoveBid Auction Studio in California -- the first two in-studio auctions ever conducted by DoveBid. At the Read-Rite auction, over 60% of asset sales were to web-based bidders, while 37% of asset sales at the Applied Magnetics auction were to web-based bidders. "DoveBid demonstrated its global reach by attracting three types of buyers to both auctions: on the factory floors in Osaka and Penang, in our auction studio in California, and over the Internet,” said Jeff Crowe, president and COO of DoveBid. “Buyers in Singapore were participating in a live auction in Osaka and Penang at 8:00 a.m. local time, while buyers in New York were bidding simultaneously at 8:00 p.m. their time. Webcasting made assets in Osaka and Penang accessible to buyers worldwide who could not travel to the physical plant where the assets were being auctioned." The Read-Rite auction, which took place on September 13 and 14, featured the virtual aggregation of a complete spectrum of sputtering and recording head fabrication equipment from three separate facilities located in Osaka, Japan; Bangkok, Thailand; and Manila, The Philippines. The Applied Magnetics auction ran from September 19 through the 21 and involved the complete liquidation of the company’s disk drive recording head manufacturing assets. The auctions for Read-Rite and Applied Magnetics were supported by DoveBid’s comprehensive marketing programs, including direct marketing, online marketing, as well as advertising and brochure creation. DoveBid’s online marketing includes strategic alliances with Yahoo! B2B marketplace and semiconbay.com. DoveBid has also announced the creation of the DoveBid Webcast NetworkSM in which Webcast Affiliates are able to syndicate DoveBid's auctions and broadcast them directly to their customers. DoveBid’s next international studio Webcast auction, on behalf of Circuitos Internacionales in Hermosillo, Sonora C.P., Mexico, will take place at 10:00 a.m. on November 16. To participate in this auction via DoveBid’s Auction Studio or via the Web, register at http://www.dovebid.com. About DoveBid Corporate Contact:
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