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Press Release DOVEBID® JOINS THE DOCK AS PREFERRED MEMBER Online Auction And Valuation Services Leader Los Angeles, CA (February 6, 2001) - DoveBid, Inc., a world leader in Webcast industrial auctions, appraisals and asset disposition services, has joined The Dock, the leading online industrial equipment exchange, as a Preferred Member. The announcement was made today by Michael Hackman, founder and president of The Dock. Launched in December 2000, The Dock (www.thedock.com) is the first online industrial exchange that allows buyers and sellers to access an integrated offering of equipment and value-added services in an open, collaborative marketplace. The Dock's easy-to-use exchange recognizes the important role played by auctioneers and asset management professionals in the transactions that drive the industrial equipment marketplace. The Dock connects auctioneers with buyers of all types of equipment from dozens of industries in an integrated, open marketplace. At The Dock, buyers, sellers and service providers have access to each other and the critical resources each provides in real time and on a competitive basis. "DoveBid has been a leader in the auction and asset management business for decades. Their membership speaks to The Dock's ability to serve the needs of auctioneers and financial valuation providers that are such an important part of the industrial equipment market, " said Hackman. The Dock's Preferred Membership program is subscription-based and offers deeply discounted transaction fees, unlimited transactions and listings, preferable terms for auctions, a personal office tailored to the industry-specific business practices and other personalized account services. Preferred Members also receive a Storefront, a customized home page where members describe their products and services in detail, display graphics, and link to a variety of marketing materials, contact information, and their company's Web site. When buyers and sellers use The Dock's powerful search engine to find equipment and services, the member's name, Storefront icon and products are displayed with a link to the member's Storefront. In addition to DoveBid, The Dock's Preferred Members include auctioneers/appraisers Winternitz Inc. and leading corporations and equipment dealers such as Ralston Purina, Aaron Equipment Company, Federal Equipment Co., Machinery & Equipment, Inc., Daewoo Heavy Industries America, Louisiana Equipment Company, Brandenberg Industrial Service Company, and Prestige Equipment Company. Capital assets from corporate surplus, used equipment dealer inventories, distributors and the rapidly growing bankruptcy marketplace can be sold on The Dock through four effective ways to create liquidity: classified listings (negotiated sales), standard 24/7 auctions, sealed bid sales and want ads. As a demonstration of its viability, the debut of The Dock was highly anticipated by the used industrial equipment industry: the next-generation exchange secured more than 3,500 advance members, more than $1 billion in committed assets and 85,000 individual pieces of equipment at launch. Registration on The Dock is free and includes a Private Office, a personalized home page offering Dock Mail messaging and other customized features where members access the site's powerful resources. Industrial equipment listed on The Dock ranges from machine tools, chemical processing, food and beverage and pharmaceutical to textile, woodworking, mining, power and more. The Dock's broad range of more than 4,000 service providers includes appraisers, auctioneers, new and used equipment dealers, finance companies, riggers, transportation, insurance, real estate, scrap and salvage, warehousing, transportation, lenders, engineering and asset management. About DoveBid® Founded in 1937, 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 The Dock For More Information:
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