Press Release

DOVEBID® TO CONDUCT SECOND AUCTION ON BEHALF OF BRISTOL-MYERS SQUIBB COMPANY

FOSTER CITY, CA (March 2, 2005) - DoveBid, Inc., a global provider of capital asset auction and valuation services, announced today that it will conduct Bristol-Myers Squibb – Sale #2, a one-day online auction featuring state-of-the-art pharmaceutical research and development equipment.

This second in a series of auctions for Bristol-Myers Squibb Company will be conducted over the Internet at DoveBid’s Website on March 16, 2005 beginning at 6:00 a.m. Eastern Time. Featured items for this online auction include HPLC AutoSamplers, Waters Mass Spectrometers, Shakers and Gas Chromatographs, Gravity Convection Ovens, Environmental Chambers, Analytical Balances, Vacuum Ovens & Freezers, Vacuum Pumps, Water Baths and Stirrers, and more.

Participants may bid online. Detailed preview information, asset catalog, and online bidding instructions are available at www.dovebid.com.

For a complete list of our upcoming 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. We deliver a turnkey, outsourced set of services to corporations and financial institutions for the valuation, redeployment and disposition of their surplus capital assets. Through DoveBid Auction Services we offer several types of auction formats, including live webcast auctions, featured online auctions, on-site-only auctions and privately negotiated sales. As part of our auction services, we also offer our customers AssetZone, a hosted, Internet-based application that monitors surplus assets inside the corporation. DoveBid Valuation Services is our professional services organization that provides capital asset valuations to financial institutions and corporations. Our valuation professionals utilize our large database of transactions and other valuation resources to conduct appraisals of machinery, manufacturing equipment, business inventory and other capital assets.

Headquartered in Foster City, California, USA, DoveBid has over 67 years of auction experience in the capital asset industry with more than 40 locations in 16 countries. 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