Ritchie Bros. Auctioneers Incorporated
TSX : RBA
NYSE : RBA

Ritchie Bros. Auctioneers Incorporated

June 02, 2006 07:00 ET

Ritchie Bros. Auctioneers Holds Large Two-Day Auction in Chicago

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 2, 2006) - Ritchie Bros. Auctioneers (TSX:RBA)(NYSE:RBA), the world's largest industrial auctioneer, today announced the results of its two-day unreserved auction held at its permanent auction site in Chicago (Morris), Illinois. The unreserved public auction, which sold over 2,600 items, generated gross auction sales in excess of US$24 million.

"Our Chicago auction brought strong auction prices, particularly for the cranes," said Rich Evans, Ritchie Bros. Regional Manager. "People are saying the local economy is starting to downturn, but with buyers traveling to our auction from around the world, we are able to see strong, global market prices at our auctions."

Over 1,800 registered bidders from 27 countries, 43 American states and 9 Canadian provinces participated in the May 31 and June 1 auction.

Six hundred and ten registered internet bidders, using the Company's rbauctionBid-Live real-time bidding service, purchased over US$5 million worth of trucks and equipment items at the two-day sale. Internet participants were buyers or runner-up bidders on 33% of the lots available for online bidding.

There are over 26,500 truck and equipment items featured in 36 unreserved industrial auctions and 30 unreserved agricultural auctions in the upcoming Ritchie Bros. auction calendar. Details on all upcoming Ritchie Bros. auctions, including equipment that will be sold, are available on 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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