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Press Release

FOSTER CITY, CA (September 30, 2002) - DoveBid, Inc., a global provider of capital asset auction and valuation services, today announced it has signed an auction agreement with Coherent, Inc. Coherent, Inc. is a supplier of photonics-based solutions to a broad range of commercial, scientific and telecommunications markets. Under the terms of the agreement, DoveBid has been engaged to sell surplus assets from the continuing operations of Coherent’s Auburn Division.

The two-day Coherent online auction will begin on Wednesday, October 9, 2002 at 9:00 a.m. (PDT) and end on Thursday, October 10, 2002 at 7:00 p.m. (PDT). This auction will feature state-of-the-art photonics fabrication equipment and high-end electronic test and measurement equipment. To participate, buyers may bid live via the Internet at www.dovebid.com. For more information and to preview the assets, please visit www.dovebid.com for the location and dates.

There are an additional 100+ upcoming auctions on DoveBid’s auction calendar. For a complete list of our auctions, equipment asset catalogs, and brochures, please visit DoveBid’s Web site 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. 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.

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DoveBid Contacts:
Cammeron Finnegan
Director, Investor Relations
DoveBid, Inc.
(650) 377-2762
cfinnegan@dovebid.com

Shanta A. Kohli
Marketing Communications Manager
DoveBid, Inc.
(650) 377-2650
skohli@dovebid.com