Hodgins Auctioneers Inc.

Hodgins Auctioneers Inc.

February 24, 2005 17:42 ET

Hodgins Auctioneers Signs Contract with Online Auction Broadcaster BidSpotter.com


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: HODGINS AUCTIONEERS INC.

TSX VENTURE SYMBOL: HA

FEBRUARY 24, 2005 - 17:42 ET

Hodgins Auctioneers Signs Contract with Online Auction
Broadcaster BidSpotter.com

MELFORT, SASKATCHEWAN--(CCNMatthews - Feb. 24, 2005) - Hodgins
Auctioneers Inc. (TSX VENTURE:HA) (www.hodginsauctioneers.com) is
pleased to announce it has entered into a one year agreement with South
Bend, Indiana based BidSpotter.com to provide online auction
broadcasting.

This agreement allows BidSpotter.com to be the exclusive online provider
of Hodgins Auctioneers' auctions.

BidSpotter.com is a world leader in live interactive auction broadcasts.
BidSpotter.com has broadcast over 1,500 auctions in 16 different
countries. BidSpotter.com has recently partnered with online leader EBay
to offer items to EBay's 120 Million plus registered users.

"By providing online auction services through BidSpotter.com, we can now
offer our customers a truly global marketplace by reaching more people
worldwide through their online portal," stated Barrie Jung, President of
Hodgins Auctioneers. "In the past we were able to provide a listing of
items available through our website. Now using BidSpotter.com; buyers
will be able to bid online as well," added Mr. Jung.

Hodgins Auctioneers will continue to offer a phone bidding service as
well as an absentee bidding service.

This press release is available for investor questions, commentary and
discussion on the company's official on-line investor relations site.
Please visit http://www.agoracom.com and select the "Hodgins
Auctioneers" IR Hub. Alternatively, investors can e-mail all questions
and correspondence to HA@agoracom.com where they can also request to be
added to the Hodgins Auctioneers investor e-mail list to receive all
future press releases and updates directly.

About Hodgins Auctioneers Inc.

Headquartered in Melfort, Saskatchewan, for 50 years, Hodgins
Auctioneers has provided professional auction services for clients
across North America and consistently ranks in the top 100 biggest
companies in the Province. Hodgins is renowned for its experienced
auctioneers, award-winning promotions and dependable results, resulting
in a database of nearly 100,000 motivated and qualified buyers from
across Canada and the United States.

About BidSpotter, Inc. www.bidspotter.com

BidSpotter.com is the most experienced provider of real-time Internet
auction broadcasts to the world's business and industrial auction
houses. Founded in 2001, it was one of the first companies to offer
real-time Internet auction broadcasts. Today it represents more than 235
of the world's leading auction houses, business & industrial and
consumer alike. On a typical day thousands of items are available to bid
for and buy on the site. BidSpotter.com has broadcast over 1,500
Internet auctions, averaging 32 auctions per month since inception.
Almost one billion dollars of inventory has passed through the online
auction ring. BidSpotter.com recently partnered with eBay.com to offer
business & industrial auctions to their one hundred million plus
registered users.

No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein. This News
Release includes certain "forward-looking statements". All statements
other than statements of historical fact, included in this release,
including, without limitation, statements regarding potential
mineralization and reserves, exploration results, and future plans and
objectives are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove
to be accurate and actual results and future events could differ
materially form those anticipated in such statements. Important factors
that could cause actual results to differ materially from expectations
are exploration risks detailed herein and from time to time in the
filings made with securities regulators.

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