Press Release

DOVEBID® TO CONDUCT UPCOMING AUCTIONS FOR EPIK COMMUNICATIONS INCORPORATED

FOSTER CITY, CA (November 20, 2002) - DoveBid, Inc., a global provider of capital asset auction and valuation services, announced today that it will conduct two upcoming auctions for EPIK Communications Incorporated (www.epik.net). EPIK Communications Incorporated is a provider of wholesale fiber bandwidth to long-distance, international, and wireless carriers, Internet Service Providers, and competitive local exchange carriers for voice and data traffic.

The first auction currently is being conducted by sealed bid auction and bids will be accepted through December 4, 2002 at 3:00 p.m. Eastern Standard Time. Assets featured at the sale include major fiber routes, collocation huts, restoration cable, and an OC-192 ring, all located within the Southeastern United States. To preview the assets or to place a bid, please visit www.dovebid.com.

The second auction will be a Webcast auction held at EPIK’s Orlando Warehouse in Oviedo, Florida (522 S. Econ Circle) on December 6, 2002 at 9:00 a.m. Eastern Standard Time. The auction will feature equipment from top name manufacturers including Acturna, ADC, American Power, Anritsu, Argus, Cisco Systems, Exfo, Invensys, Ixia, Lucent Technologies, Marconi, Nortel Networks, Panduit, and Redback Networks. Featured assets include SONET and SDH electronics, test equipment, fiber optic cable, and site installation materials. Participants may attend in-person or bid online by registering at www.dovebid.com. Detailed preview information, asset catalog, and online bidding instructions are available at www.dovebid.com.

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 services to meet its customers’ specific needs, including live Webcast auctions, on-site-only auctions, 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.

Headquartered in Foster City, California, DoveBid has over 65 years of auction experience in the capital asset industry with more than 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 Media 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

Auction Contact:
Tom Biehl
(678) 985-2670
tbiehl@bellsouth.net