Press Release

DOVEBID® TO CONDUCT MULTIPLE AUCTIONS FOR SIMRIDGE TECHNOLOGIES, INC.

FOSTER CITY, CA (April 26, 2004) - DoveBid, Inc., a global provider of capital asset auction and valuation services, announced today that it will conduct a Webcast auction and a private treaty sale for SimRidge Technologies, Inc. by order of U.S Bankruptcy Court in the complete closure of two full-service turnkey plastic injection-molding facilities.

The Webcast auction will be conducted live over the Internet at DoveBid’s Website on May 4, 2004 beginning at 9:00 a.m. EDT in Sanford, North Carolina. Featured items for the Webcast auction include Van Dorn plastic injection-molding machines from 55-ton x 2.8-oz. to 960-ton, ancillary plastics and tool room equipment.

The private treaty sale will be conducted through May 31, 2004, with assets located in New Braunfels, Texas. This sale will include a complete, turnkey plastics injection-molding facility including real estate and improvements. The facility includes 116,000 sq. ft. manufacturing floor area, 38,000 sq. ft. warehouse, 11 acres in Central Texas on IH-35 between Austin and San Antonio, injection-molding presses ranging from 50-1,000 ton and a complete service tool room.

"DoveBid is conducting thirteen plastic injection-molding facility auctions from March through May 2004 in North America and Europe," said Kirk Dove, president and chief operating officer at DoveBid. "These premier sales for SimRidge Technologies, Inc. will enable buyers around the globe to access two full-service turnkey plastic injection-molding facilities."

To participate in these sales, 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 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 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. 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 www.dovebid.com or by contacting company headquarters at (800) 665-1042 or (650) 571-7400.

DoveBid and the DoveBid logo are registered trademarks of DoveBid, Inc.

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DoveBid Contacts:
Josh Prince
Director, Corporate Development
DoveBid, Inc.
(650) 377-2604
jprince@dovebid.com

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