Press Release

DOVEBID® TO CONDUCT BIO/PHARMA EXCHANGE AUCTION FEATURING PFIZER, INC. AND SUGEN, INC.

FOSTER CITY, CA (August 11, 2004) - DoveBid, Inc., a global provider of capital asset auction and valuation services, announced today they will conduct Bio/Pharma Exchange #9, a two-day online auction featuring biotechnology and pharmaceutical research and development equipment from Pfizer, Inc., Sugen, Inc., AxCell Biosciences, and other biotechnology companies.

This ninth in a series of Bio/Pharma Exchanges will be conducted over the Internet at DoveBid’s Website on August 25, 2004 beginning at 12:00 a.m. midnight Pacific Time. This auction will feature a wide range of quality equipment, including compound and inverted microscopes, DNA sequencers, electrolyte analyzers, lab equipment, and more.

The Bio/Pharma Exchange #9 is another example of DoveBid's Global Auction Exchange program, where multiple sellers consign assets together into auction events, to gain broad asset exposure to a global audience of buyers.

Participants may bid online. 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 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 Contact:
Josh Prince
Director, Corporate Development
DoveBid, Inc.
(650) 377-2604
jprince@dovebid.com