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Press Release e-STEEL AND DOVEBID® IN MARKETPLACE ALLIANCE DoveBid To Provide e-STEEL Exchange With FOSTER CITY, CA and NEW YORK, NY (January 29, 2001) - e-STEEL Corporation announced today that it has entered into a marketplace alliance with DoveBid, Inc., a world leader in Webcast industrial auctions, appraisals and asset disposition services. The purpose of the alliance is to provide metalworking equipment auctions and auction services to e-STEEL (www.e-steel.com) customers. DoveBid and e-STEEL will develop a co-branded area for used capital asset auctions focused on the metalworking equipment industry. Visitors to the www.e-steel.com site will be able to search and view hundreds of pieces of used equipment. The co-branded site will provide detailed product information and allow users to register for an auction, bid on capital assets, and participate in live or featured auctions. "By working with DoveBid, a proven auctioneer and appraiser of used capital equipment, we are further expanding the scope and value of the e-STEEL Exchange into important new services for the global metal community," said Peter Regen, Vice President of Marketing at e-STEEL. "This alliance with DoveBid is the first step in providing a comprehensive, metal-specific equipment marketplace on the e-STEEL Exchange," added Regen. "DoveBid is pleased to add e-STEEL as a DoveBid Webcast NetworkSM affiliate, syndicating auctions and broadcasting them directly to their customers. e-STEEL has established themselves as a premier B2B marketplace focused on the metals industry," said Jeff Crowe, president and COO of DoveBid. "This agreement is good for both companies. e-STEEL adds a key component to its e-commerce strategy while DoveBid extends the market reach of its auctions in the metalworking industry." The two companies launched the used equipment auction capability today. About DoveBid® DoveBid has more than 20 offices throughout North America, Europe and the Asia-Pacific region. More information on DoveBid can be found at http://www.dovebid.com or by contacting company headquarters in Foster City, California, at (800) 665-1042 or +1 (650) 571-7400. DoveBid and the DoveBid logo are trademarks of DoveBid, Inc. About e-STEEL e-STEEL has extended its offerings to include private marketplaces, integration solutions, and e-enabled collaborative management systems, in addition to its public exchange. Founded in September 1998, e-STEEL has 150 employees is backed by a blue-chip group of 15 strategic investors led by Goldman, Sachs & Co. e-STEEL has significant strategic industry alliances with Dofasco Inc., Feralloy Corporation, Ford Motor Company, Ispat International, Macsteel Service Centers USA, National Steel, Rouge Steel, USS-Posco, U. S. Steel Group, and Worthington Steel. Additionally, e-STEEL recently completed a multi-million dollar, multi-year contract with BHP Steel to build a major Australian region private marketplace. For More Information:
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