Press Release

DOVEBID® SIGNS ARVINMERITOR, INC. AS MANAGED SERVICES CUSTOMER

FOSTER CITY, Calif. (July 31, 2002) - DoveBid, Inc., a global provider of capital asset auction and valuation services, today announced that ArvinMeritor, Inc. has become a new customer of the company’s surplus asset management services through DoveBid Managed Services.

ArvinMeritor, Inc., a $7-billion global supplier of a broad range of integrated systems, modules and components to the motor vehicle industry, has contracted with DoveBid to assist with the disposition and redeployment of ArvinMeritor’s physical assets. Initially, DoveBid Managed Services will help ArvinMeritor redeploy its assets within the organization. If those assets are not needed privately, DoveBid will offer them for resale to a public, global audience through one of DoveBid’s asset disposition services. This service is a convenient, state-of-the-art program designed to help companies avoid buying costly new equipment.

"We are pleased to be working with ArvinMeritor to develop this service as a cost-effective solution to dispose of surplus assets," said Romie Castelli, Vice President of Sales, DoveBid Managed Services. "With connections around the world, DoveBid Managed Services enables buyers to easily find the equipment they need at a good price. In return, ArvinMeritor can maximize its return on assets that the company no longer needs."

"This service should make it easier for our people to internally transfer surplus assets to business units that can use them. This helps us leverage resources across the organization and reduces the need to purchase costly new equipment," said ArvinMeritor’s Teri Buhl, Senior Director, Procurement. "It’s also a valuable opportunity to recoup some of the expense from equipment that’s not in use."

There are more than 90 auctions on DoveBid’s calendar. For a complete list of auctions, equipment asset catalogs, brochures, please visit DoveBid’s Website at www.dovebid.com.

About DoveBid®
DoveBid, Inc., is 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. DoveBid has conducted over 5,000 capital asset auctions and sold over $5 billion of assets. 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 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 (DVS) is a leading valuation firm. DVS uses its extensive database of transaction information to provide valuations of capital assets for financial institutions and large businesses. Financial institutions utilize DVS 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.

DoveBid focuses on 22 categories of capital assets and has 40 locations 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 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
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