Ritchie Bros. Auctioneers Incorporated

Ritchie Bros. Auctioneers Incorporated

March 30, 2005 15:50 ET

B.C. Logging Companies Make Strong Showing at Ritchie Bros. Auction


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: RITCHIE BROS. AUCTIONEERS INCORPORATED

TSX, NYSE SYMBOL: RBA

MARCH 30, 2005 - 15:50 ET

B.C. Logging Companies Make Strong Showing at Ritchie
Bros. Auction

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 30, 2005) - Ritchie
Bros. Auctioneers Incorporated (TSX:RBA)(NYSE:RBA)

Over 2,000 registered bidders competed for over CDN$11.5 million worth
of logging trucks and equipment yesterday, in the largest one-day
forestry equipment sale in the history of the Province of British
Columbia.

Wheel loaders, log loaders, and processors were the hot items of the
day, and even though the auction played host to equipment buyers from as
far away as New Zealand, Saudi Arabia, and Uruguay, sales to B.C.-based
companies were strong, accounting for over three-quarters of the day's
gross auction sales.

Don McEachern, Sales Manager for Ritchie Bros. Auctioneers, said that
the strong interest from B.C. companies indicates that the logging
industry in the province remains active and vital.

"Many companies were here to fine-tune their fleets of equipment to meet
changing conditions in the industry," he said. "The strong demand for
equipment to remain here in B.C. is an encouraging sign for our
province's forestry industry."

For Ted LeRoy, owner of Chemainus-based Ted LeRoy Trucking Ltd., the
sale was an ideal opportunity to reconfigure his fleet to better suit
his current operations. Mr. LeRoy, a Ritchie Bros. customer for over 30
years, sold a number of pieces of his equipment at the auction, and
purchased several other pieces he required for his fleet.

"There was a big crowd, and lots of equipment to choose from. I sold my
own pieces, and purchased some other equipment that I needed to help
round out my fleet," he said.

Ritchie Bros. co-founder Dave Ritchie, who attended the first Ritchie
Bros. Vancouver Island auction over 40 years ago, said that working with
long-time customers like Mr. LeRoy made sale day closer to a family
reunion than a business transaction.

"The best part of the day has been the number of customers we've had for
30 or 40 years that have stopped by to wish us good luck and even bid on
a few items," he said. "It's like old home week here."

Online bidders played a prominent role in the unreserved auction. Nearly
200 Internet bidders from the U.K., the Netherlands, Australia, United
Arab Emirates, Mexico, and 21 U.S. states followed the action in
real-time through Ritchie Bros. online bidding service,
rbauctionBid-Live.

About Ritchie Bros.

Ritchie Bros. is the world's largest auctioneer of industrial equipment,
operating through over 110 locations in more than 25 countries around
the world. The company sells, through unreserved public auctions, a
broad range of used and unused industrial equipment including equipment
utilized in the construction, transportation, material handling, mining,
forestry, petroleum, marine, real estate, and agricultural industries.
The company maintains a web site at www.rbauction.com.

Investors and potential investors should note that this information may
not be indicative of the overall financial performance of the company
for this or any period.

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