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Press Release BIDDERS FROM 30 COUNTRIES COMPETE FOR BANYU ASSETS AT DOVEBID WORLDWIDE INTERNET AUCTION LOS ANGELES, CA (September 25, 2006) - DoveBid, Inc., (http://www.dovebid.com), the leading global provider of capital asset management and valuation services, announced today it successfully sold surplus assets for Banyu Pharmaceutical Co., Ltd., a subsidiary of Merck & Co., Inc. with total proceeds in excess of USD $1,000,000. "This is another excellent example of how DoveBid utilizes its global network of accurate valuation services, customer acquisition and marketing campaigns to deliver higher returns for clients. Our deep experience and knowledge of capital asset management enables DoveBid to deliver world-class services." Naoki Kato, President, DoveBid Japan. The Banyu facility in Saitama, Japan contained over 400 lots of surplus assets slated for sale due to facilities consolidation with Merck & Co, Inc. DoveBid's valuation service team in Tokyo appraised and tagged all surplus assets prior to on-site previews for potential buyers. These surplus assets were then catalogued for online auction in DoveBid's Life Sciences, Biotech and Pharmaceutical Industry Exchange. DoveBid Marketing Services created and launched a global marketing campaign in several languages, generating over 24,000 page views and approximately 130 registered bidders from 30 countries. Buyers originated in equal parts from Japan and abroad, with successful bidders participating from four continents. The sale was a tremendous success with over 90% of assets sold. About DoveBid Headquartered in Los Angeles, California, USA, DoveBid has over 67 years of industrial capital asset management expertise with associates in 37 offices and 20 countries. Additional information on DoveBid can be found at www.dovebid.com or by contacting the company directly at (800) 665-1042 or (310) 775-6700. DoveBid and the DoveBid logo are registered trademarks of DoveBid, Inc. # # # DoveBid Contacts: Japan North America Europe/ Middle East/ Africa Asia Pacific |