Ritchie Bros. Auctioneers Incorporated

Ritchie Bros. Auctioneers Incorporated

August 30, 2005 06:00 ET

Ritchie Bros. Auctioneers Completes US$24 Million Houston Sale

HOUSTON, TEXAS--(CCNMatthews - Aug. 29, 2005) - Over 2,300 bidders from 39 countries including 48 U.S. states registered to participate in Ritchie Bros. Auctioneers' (TSX:RBA)(NYSE:RBA) Houston, TX unreserved auction last week. Bidders vied for 2,852 trucks and industrial equipment items on Thursday and Friday August 25 and 26, generating a total of over US$24 million in gross auction sales.

The sale's strong attendance was augmented by the participation of 608 online bidders, who registered to bid using the Ritchie Bros. online bidding service, rbauctionBid-Live, and accounted for more than US$4 million of the auction's total sales dollars. The service allows customers to participate in the Company's unreserved auctions over the internet in real-time from anywhere in the world.

Alan McVicker, Ritchie Bros. Regional Manager for South Central US, said the strong international cross-section of bidders means that Ritchie Bros. is continuing to serve a worldwide demand with local supply. "We hosted bidders from as far away as Saudi Arabia, Nigeria, and the Netherlands," he said. "The international demand for equipment remains high, and we provide a way for consignors to get global market value for their assets."

In August, the Company reported that it achieved gross auction sales for the first half of 2005 of $1.1 billion, 22% higher than the gross auction sales reported for the first half of 2004, making it the largest first half gross auction sales performance in the Company's history.

Ritchie Bros. currently has nearly 22,000 trucks, industrial equipment, and agricultural equipment items listed for sale at 49 upcoming unreserved auctions scheduled in the coming months. Full equipment listings and auction details can be found at the Company's web site, www.rbauction.com.

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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