Press Release

DOVEBID® AUCTIONS FOUR DOT-COMS IN FEBRUARY

- Business Auctioneer Helps Failed Dot-Coms Maximize Return on the Sale of Assets

FOSTER CITY, California (March 5, 2001) - DoveBid, Inc., a world leader in Webcast industrial auctions, appraisals and asset disposition services, today reported that in the month of February, it was retained to sell assets for four failed dot-com companies, including three online auctions on the same day for Lifespire.com, Zatso Inc., and Riffage.com. The sales have included computer systems, telecommunications equipment, and office equipment.

"The current dot-com shakeout has provided DoveBid with great business opportunities. In just one month we’ve done more dot-com auctions than in all of year 2000 with approximately seven more dot-com auctions planned over the next thirty days," said Ross Dove, chairman and chief executive officer of DoveBid. "While these are tough times for a lot of companies, DoveBid benefits from being in a counter-cyclical business. Since the beginning of 2001, DoveBid has already conducted 42 industrial auctions worldwide."

Most recently, on February 20, 2001, DoveBid broadcast a live Webcast auction for the complete liquidation of Alladvantage.com located in Hayward, Calif. DoveBid conducted a marketing campaign that attracted 200 bidders to the auction site and over 500 bidders on the Internet from fifteen states, almost more than twice the expected number for a sale of this size. At the auction, desktops and laptop computers, office furnishings, data processing equipment, routers, and networking equipment were sold for more than $500,000.

"Dot-coms facing a shut-down have limited options. When a sale of assets is required, an online auction can help maximum the cash value," said Ross Millerick, the former Program Manager of AllAdvantage.com. "That's what DoveBid did for AllAdvantage.com. DoveBid's experts helped us generate needed results under a very short time frame."

Upcoming DoveBid Dot-Com Auctions
On March 7th, DoveBid will conduct another dot-com auction by order of Webvan. DoveBid will auction off the surplus assets of HomeGrocer.com, a wholly owned subsidiary of Webvan. This sale will include the surplus assets of HomeGrocer.com's four facilities located in Wilsonville (Portland), Oregon; Renton, Washington; Kent, Washington; and Ayer (Boston), Massachusetts. Assets of all facilities will be auctioned from the Oregon location and via Webcast at www.dovebid.com. DoveBid will also conduct a dot-com auction for the complete liquidation of a major Internet e-commerce application software provider on March 15th. Assets of the facility will be auctioned from Folsom, California, and via Webcast at www.dovebid.com. Featured assets include over 250 Dell, HP and Compaq servers, notebooks, and Lucent telephone systems.

About DoveBid®
DoveBid, Inc. is a leader in Webcast industrial auctions, appraisals and other capital asset disposition services for Global 2000 businesses. DoveBid has conducted thousands of industry-specific auctions on behalf of corporations, government agencies and financial institutions from around the world. DoveBid's portfolio of asset disposition services includes live Webcast auctions, 24x7 online auctions, featured online auctions, on-location auctions, sealed bid Internet sales, and private treaty sales. Buyers and sellers can also benefit from such transaction support services as appraisals, credit rating, financing, inspection, insurance, maintenance, photography, repair and operations procurement, and transportation and logistics.

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.


Corporate Contact:
Daphne Li
DoveBid, Inc.
V.P., Corporate Strategy & Corporate Marketing
DoveBid, Inc.
dli@dovebid.com
(650) 377-2682



Media Relations Contact:
Lisa Hawes
Sr. Account Executive
Sterling Communications
lhawes@sterlingpr.com
(408) 441-4100



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