GoIndustry

Press Release

FOSTER CITY, Calif. (June 4, 2002) - DoveBid, Inc., a leading provider of fully integrated asset management services and valuation services, today announces that it will be conducting a Webcast auction sale on behalf of Lennar Mare Island Naval. The Mare Island shipyard was established by the Navy in 1854 for the primary purposes of maintaining, overhauling, and refueling ships, including nuclear-powered ships; providing logistical support for ships and service craft; and providing services and materials for other Navy functions.

Lennar Mare Island has engaged DoveBid to sell a complete naval shipbuilding facility with a broad range of shipyard equipment as well as large machinery. There are over 100 buildings on the island that contain items ranging from pallets of pneumatic hand tools to a lathe that is 1/3 the length of football field. The sale will take place on June 26-28th in Vallejo, CA beginning at 9 am PT.

Featured items will include vast quantities of machine tools, a pipe shop, a sheet metal shop, a dredge, (2) 50ft. workboats, shipyard lumber, industrial cranes, (2) train locomotives, generators, diesel engines, forklifts, (2) fire trucks, over (60) pick-ups and vans. In total, over 4,500 lots will be sold in three days in this worldwide broadcast auction.

To participate, buyers may bid live via the Internet at www.dovebid.com or attend in person. To preview assets, please visit www.dovebid.com for locations and dates.

There are additional 90+ upcoming auctions on DoveBid’s auction calendar. For a complete list of our auctions, equipment asset catalogs, brochures, please visit DoveBid’s website at www.dovebid.com.

About DoveBid®
DoveBid, Inc., is a leading provider of fully integrated asset management and valuation services. DoveBid has conducted over 5,000 capital asset auctions and sold over $5 billion of assets on behalf of the world’s leading corporations and financial institutions. DoveBid’s complete turnkey solution includes live Webcast auctions, featured online auctions, asset management services and valuations. DoveBid has a broad, diverse history of broadcasting Webcast auctions to a live global audience over the Internet for hundreds of clients around the world. DoveBid Valuation Services (DVS) is a leading valuation firm featuring one the industry’s largest valuation database. DVS serves more than 80 industry segments and produces thousands of appraisals annually that represent billions of dollars in asset value. DVS provides machinery, inventory, real estate, businesses and intangible asset valuations for financing, insolvency, book and financial reporting, and insurance.

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DoveBid Corporate Contact:
Shanta A. Kohli
Public Relations & Media Inquiries
DoveBid, Inc.
(650) 377-2650
skohli@dovebid.com

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