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Press Release DOVEBID® FILES REGISTRATION STATEMENT FOR PROPOSED INITIAL PUBLIC OFFERING Foster City, CA (June 10, 2002) - DoveBid, Inc., a global provider of capital asset auction and valuation services to large corporations and financial institutions with over 65 years of auction experience in the surplus capital asset industry, today announced the filing of a Registration Statement with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. The Company is offering all shares covered by the registration statement. DoveBid delivers an integrated set of services to its customers for the disposition, valuation and redeployment of their surplus capital assets. DoveBid offers an array of auction and managed services to meet its customers’ specific needs, including live Webcast auctions broadcast live over the Internet, on-site-only auctions, Internet featured online auctions and privately-negotiated sales. DoveBid Managed Services offers clients a hosted, Internet-based application to monitor surplus assets inside the corporation. DoveBid Valuation Services uses its database of transaction information to provide valuations of capital assets for financial institutions and large businesses. Financial institutions utilize DoveBid’s valuation services to facilitate decisions regarding asset-based loans and capital equipment leases. DoveBid’s corporate valuation practice also assists corporations with important business issues related to financial reporting, tax reporting and management planning. JP Morgan will act as the lead underwriter of the offering. The co-managers are US Bancorp Piper Jaffray, Thomas Weisel Partners LLC and Pacific Crest Securities Inc. A Registration Statement relating to the Common Stock of DoveBid, Inc. has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. A copy of the preliminary prospectus when available may be attained from. Contact: |