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Press Release DOVEBID® ESTIMATES WEBVAN AS LARGEST DOT-COM AUCTION OF THE YEAR - Complete Closure of Corporate Headquarters Auctioned in Worldwide Broadcast October 30-31 - FOSTER CITY, Calif. (October 16, 2001) - DoveBid, Inc., the leader in Webcast industrial auctions, valuation services, and other capital asset disposition services for the Global 4000, today announced it will conduct a Webcast auction for the heralded online grocer, Webvan Group, Inc, who filed Chapter 11 bankruptcy in July 2001. The auction will take place October 30-31, 2001 at Webvan's headquarters in Foster City, Calif. Webvan has contracted DoveBid to auction all of the assets in its headquarters facility, originally valued at over $70 million dollars. DoveBid anticipates the auction to be the largest dot-com auction to date, with millions of dollars of assets for sale, including brand new in-the-box equipment. Assets include Sun® servers, Cisco® networking equipment, Compaq® and Dell® servers, Herman-Miller® and Smed office furniture, storage devices, PCs, notebooks, laptops, conferencing equipment and telephone systems. "DoveBid has already auctioned off the assets of hundreds of dot-coms since the beginning of this year. In fact, DoveBid conducted its first auction for Webvan last March, selling surplus distribution center assets from Webvan's acquisition of HomeGrocer.com," said Kirk Dove, President of Auction Services at DoveBid. "This auction of Webvan will be the largest dot-com auction of the year for buyers around the globe. It will feature large amounts of servers, routers, and switches ideal for small businesses, while also featuring laptops, computers, monitors, and printers for the average consumer." The auction will take place at Webvan's headquarters, 310 Lakeside Drive, Foster City, Calif. 94404, beginning at 10:00 a.m. (PT) Tuesday, October 30, 2001, and continuing through Wednesday, October 31 (if necessary). Participants may attend in-person or bid online. Assets may be previewed on October 29 from 9 a.m. to 4 p.m. PT at the same location as the sale. Detailed preview information, asset catalog, and online bidding instructions available at http://www.dovebid.com. DoveBid conducts a semi-monthly Dot-Com Exchange that includes up to forty dot-coms. DoveBid has seen thousands of bidders participate in these dot-com auctions, both on the auction floor and through the Internet. At the August Dot-Com Exchange, over 250 bidders came to the San Jose location, while almost 1,500 logged on via the Internet. For more information or to view DoveBid's auction calendar, please visit http://www.dovebid.com. About DoveBid® # # # Corporate Contact:
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