Press Release

DOVEBID® TO CONDUCT WEBCAST AUCTION OF EXCITE@HOME ON MAY 29-30

- Complete Closure of Headquarters Auctioned in Worldwide Broadcast -

FOSTER CITY, Calif. (May 15, 2002) - DoveBid, Inc., a leading provider of fully integrated asset management services, announces today it will conduct a Webcast auction for Excite@Home, who filed Chapter 11 bankruptcy in September 2001. The auction will be conducted on May 29-30th in Redwood City, CA.

Excite@Home has retained DoveBid to auction all of the assets at its worldwide headquarters in Redwood City, CA originally valued at millions of dollars. DoveBid will also conduct a sealed bid sale for the Excite@Home intellectual property including domain names, trademarks and patents. DoveBid’s Webcast auction will offer millions of dollars of assets for sale including Sun Microsystems® servers, Cisco® networking equipment, EMC® storage devices, Extreme Networks® equipment, SGI® servers, Herman-Miller® office furniture, storage devices, PCs, notebooks, laptops, conferencing equipment, telephone systems, televisions, video games and the corporate 1995 green BMW 540i.

"DoveBid conducted its first auction for Excite@Home in December 2001, selling over $1.7 million of assets from the closing of MatchLogic, a division of Excite@Home,” said Kirk Dove, President of Auction Services at DoveBid. “This premier Dot-Com closure will enable buyers around the globe to access large amounts of servers, routers, switches, laptops, computers, monitors, and printers."

The auction will be broadcast live over the Internet at http://www.dovebid.com as well as at Excite@Home’s worldwide headquarters at 440 Broadway St. beginning at 9:00 a.m. (PT) Wednesday, May 29th, and continuing through Thursday, May 30th. Participants may attend in-person or bid online. Assets may be previewed on May 28th from 9 a.m. to 4 p.m. PT in San Jose, CA. Detailed preview information, asset catalog, and online bidding instructions available at http://www.dovebid.com.

About DoveBid®
DoveBid, Inc. is a leader in Webcast industrial auctions 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 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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DoveBid Corporate Contact:
Shanta A. Kohli
Marketing Communications Manager
(650) 377-2650
skohli@dovebid.com


Auction Contact:
Brian Blakeney
Director, Auction Marketing
(650) 377-2639
bblakeney@dovebid.com