GoIndustry

Press Release

Amsterdam, The Netherlands (February 20, 2002) - Bache Treharne, a leading UK auctioneer, in conjunction with DoveBid, Inc., the leader in Webcast industrial auctions and valuation services for the Global 4000, will be conducting the auction of Enron Europe Limited's Headquarters assets on behalf of the administrators of PriceWaterhouseCoopers (PWC). PWC is the court appointed administrator for Enron Europe which filed for creditor protection under UK Law in November of 2001. The auction will take place 27 of February - 1 March live at Enron Europe's headquarters in Grosvenor Place, London SWI and, simultaneously, will be Webcast to bidders worldwide over the Internet.

Enron Europe will be the largest UK auction in history including equipment with an original cost over £15 million. The auction will feature a huge array of sophisticated IT and telecommunications equipment; luxury quality executive suites and furniture; catering and health club equipment, and large quantities of commissioned artwork.

"This is one of the highest profile, and potentially one of the highest value, auctions that a UK firm has held," said Peter Bache of Bache Treharne. "The size and scope of the sale is unprecedented."

The vast majority of items being sold are less than two years old. Approximately 4,000 flat screen monitors, 3,000 personal computers, more than 500 servers and 50 plasma screens will be offered for sale. In addition, quality furniture including the maple and walnut boardroom and meeting tables, thousands of workstations, dealing desks and chairs, will be offered for sale. All together, over nine thousand lots will auctioned in this three-day worldwide live auction and Webcast.

DoveBid's proprietary Webcast technology allows buyers from all over the world to compete in real time and on equal footing with buyers at Enron Europe's headquarters. The Internet participants, however, enjoy the convenience of bidding on their own computers from their own offices.

"DoveBid has conducted hundreds of Webcast auctions in the past two years for Global 4000 clients." said Ross Dove, chairman and chief executive officer of DoveBid. "These Webcast auctions draw thousands of bidders from around the world to compete in a live auction broadcast live over the Internet."

Further sale details, including an asset listing, descriptions and digital photographs, are available at Bache Treharne's website www.bachetreharne.com/enron.html or at DoveBid's Website at www.dovebid.com.

About Bache Treharne
Bache Treharne is a leading independent firm of surveyors, valuers and auctioneers, specialising in the valuation and disposal of all types of plant, machinery and property assets for all major firms of accountants, financial institutions and leading corporates. Offices are located in London, Birmingham, Leeds and Leicester. Service is provided on a local, national and international basis.

About DoveBid®
DoveBid, Inc. is a leader in Webcast industrial auctions and valuation services for Global 4000 businesses. DoveBid has conducted over 5,000 capital asset auctions and sold over $5 billion of assets. DoveBid's asset disposition services include live Webcast auctions, featured online auctions, a corporate marketplace and liquidations. DoveBid Valuation Services (DVS), a leading capital asset appraisal company with one of the industry's largest valuation databases that draws upon DoveBid's real market experience. DVS has produced over 10,000 appraisals representing over $4 billion worth of assets valued. DoveBid focuses on 20 categories of capital assets and has 26 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 registered trademarks of DoveBid, Inc.

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For more information about the Enron Europe auction, please contact:
Kevin Smyth
Bache Treharne
(P) 0207-405-6655
enron@bache-treharne.co.uk