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Press Release HIGH-TECH DOT-COM AUCTIONS HIT EUROPE - DoveBid® In Association With Bache Treharne To Conduct First Webcast of European Dot-Com Liquidation for Madge.web Limited On October 30th - - Additional Auctions Slated for Motorola, Xerox and Cable & Wireless UK Throughout British Isles in November - Amsterdam, The Netherlands (October 22, 2001) - DoveBid, Inc., the leader in Webcast industrial auctions, valuation services, and other capital asset disposition services for the Global 4000, today announced that on October 30th it would conduct the first Webcast auction of a dot-com company in Europe. DoveBid has already liquidated the assets of hundreds of dot-coms in the United States this year. This auction represents a growing trend in Europe of the auctions involving high-tech companies. DoveBid in association with Bache Treharne, a leading UK firm of surveyors, valuers, and auctioneers, will conduct a Webcast auction for the liquidation of Madge.web Limited, a global provider of content applications, managed network services, and ISP and ATM solutions. The auction will feature computer hardware assets from Sun Microsystems, Hewlett Packard, Cisco Systems, Nortel Networks, Extreme Networks, Alteon Web Systems, Network Associates, Dell Computer and Compaq Computer. The auction will take place near Slough, Berkshire (12 miles from Heathrow Airport), beginning at 11:00 am (GMT) on October 30th. DoveBid previously conducted a dot-com liquidation in Europe in August 2001. The online-only auction for Ipulsys B.V. in the Netherlands resulted in nearly US $1 million in asset sales. In addition, DoveBid will also conduct Webcast auctions in Europe for Motorola Limited and Xerox Corporation. These auctions will be conducted in a two-phase sale, which will include both an orderly liquidation and a Webcast auction. The remaining assets from both liquidations will be auctioned worldwide through DoveBid's proprietary state-of-art Webcast technology in which bidders at the auction site and around the globe can compete for assets through the Internet. For Motorola Limited, DoveBid will auction the surplus manufacturing equipment from a mobile phone handset manufacturing and assembly facility. The liquidation is going on now until November 5th. The Webcast auction on November 15th will take place live in Bathgate, Scotland, and on the Internet, beginning at 10 am (GMT). For Xerox Corporation, DoveBid will auction surplus equipment from a print head manufacturing and assembly facility. The liquidation will continue now until November 5th. The Webcast auction on November 13th will take place live in Dundalk, Ireland, and on the Internet, beginning at 1 pm (GMT). DoveBid will also conduct an auction for Cable & Wireless UK. This online auction of Nortel telecommunications equipment will begin on November 14th at 7 am (GMT) and end November 16th at 7 am (GMT). Detailed preview information, asset catalogs, and online bidding instructions for all auctions are available at http://www.dovebid.com. About DoveBid Webcast Auctions About DoveBid® About Bache Treharne # # # DoveBid Corporate Contact:
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