Press Release

DOVEBID® TO CONDUCT 16th IN SERIES OF BIOPHARMA EXCHANGE AUCTIONS, FEATURING ASSETS OF PFIZER, INC. AND BRISTOL-MYERS SQUIBB COMPANY

FOSTER CITY, CA (August 10, 2005) - DoveBid, Inc., a global provider of capital asset auction and valuation services, announced today it will conduct BioPharma Exchange #16, a two-day online auction featuring biotechnology and pharmaceutical research and development lab equipment from Pfizer, Inc. (NYSE: PFE), Bristol-Myers Squibb Company (NYSE: BMY), and other biotechnology companies.

This sixteenth in a series of BioPharma Exchanges will be conducted over the Internet at DoveBid’s Website beginning on August 16, 2005 at 9:00 a.m. Pacific Time. This auction will feature a wide range of quality equipment, including a Perkin Elmer Imagetrak combination liquid handling/imaging system, X-ray diffraction data collection equipment, Niro Pharma Systems mini blender and IBC bins, lab equipment, and more.

The BioPharma Exchange #16 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.

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. 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 37 locations in 15 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