Press Release

DOVEBID® IN CONJUNCTION WITH NORTHSTAR PARTNERS TO CONDUCT SEALED BID REAL ESTATE AUCTION FOR CARGILL, INCORPORATED

FOSTER CITY, CA (June 9, 2005) - DoveBid, Inc., a global provider of capital asset auction and valuation services, announced today that it will conduct a Sealed Bid auction in conjunction with Northstar Partners, an independently owned and operated member of the Cushman & Wakefield Alliance, for Cargill, Incorporated. This sale offers a riverfront real estate redevelopment opportunity on a ten-acre site in the city of Sheboygan, Wisconsin.

The Bid Submission deadline is June 22, 2005 at 5:00 p.m. Central Time with the Bid Award Notification taking place on June 24, 2005. The property has a facility storage capacity of 1.9 million bushels of barley/malt, direct connection to Union Pacific Line railroads, Sheboygan River access, and truck transport road access. It includes a malting plant, three grain elevators, two warehouse facilities, a three-story office building, and a pilot brewing facility.

Detailed preview information, asset catalog, and 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