SOURCE: WWA Group, Inc.

July 06, 2006 08:00 ET

WWA Group Concludes First Auction in Qatar

Generates Gross Sales of $9 Million

DUBAI, UNITED ARAB EMIRATES -- (MARKET WIRE) -- July 6, 2006 -- WWA Group Inc. (OTCBB: WWAG), one of the world's largest auctioneers of transportation and industrial equipment, announced today the successful conclusion of its first auction in Doha, Qatar, held on June 28, 2006, through its wholly owned subsidiary World Wide Auctioneers Ltd. and joint partner Al Baida Technical Services ("Baida").

The Doha auction generated gross sales of US$8.95 million and involved more than 160 registered bidders from 14 countries. The auction drew more than 400 items of equipment from 46 consignors from eight countries. The auction also generated online sales through the WWA BIDLive bidding system that enables online participants to place bids on equipment offered at auction.

Eric Montandon, WWA Group's chief executive officer, said, "We are very pleased to report strong sales results and an overwhelmingly positive response from attendees at our first auction in Qatar. This cash-rich, rapidly developing nation is opening up their equipment importation market, and this provides us the opportunity to meet the tremendous need for more accessible and efficient equipment trades. As the only licensed equipment auction company in Doha, WWA and Baida look forward to holding additional auctions in Qatar that will lead to an early leadership position in serving this market's needs."

Qatar is expected to become the world's wealthiest nation on a per capita basis in 2006, with revenues from oil and natural gas production expected to exceed $100 billion for the year. This money is rapidly being poured back into new infrastructure, expansion of energy production, and massive development projects. Qatar was the world's second largest consumer of project finance (behind China) in 2005, and in mid-2006 has $57 billion worth of oil and gas projects and $23 billion in other construction projects under way. Major projects now under way include the $5 billion Lusail mixed-use development, the $2.5 billion New Doha International Airport, the $2.5 billion Pearl mixed-use development, the $2 billion Ras Laffan port project, a $6 billion gas-to-liquids plant, the $4 billion Qatargas II project, and hundreds of others.

WWA Group has completed 10 of a total of 20 physical equipment auctions planned for the United Arab Emirates, Australia, Holland, Indonesia and Qatar in 2006. WWA Group has held 39 auctions from its WWA facilities in Dubai since March 2001, and has an additional three physical auctions planned for Dubai in 2006.

Actual sale prices for all items sold at all auctions are published for members at Member registration to the site is free by clicking on "Auction Results." Lists of equipment for sale at upcoming WWA Group auctions are updated daily on the site. Anyone interested in consigning equipment to the auctions, or registering to bid, can e-mail or call 011-971-4-881-6142.

About WWA Group

WWA Group Inc., through its wholly owned subsidiary World Wide Auctioneers Ltd. (WAA), is one of the world's largest auctioneers of transportation and industrial equipment. WWA Group's operations are focused on high-growth, underserved regions outside of North America that are transforming into luxury tourism and international economic centers. Since its inception in 2001, WWA has auctioned more than $380 million worth of vehicles and equipment from its Dubai facilities. WWA also manages unreserved auctions in the Netherlands, Indonesia, China and Australia through its joint venture partners. More than $200 million has been auctioned at these associated franchise facilities since WWA's inception. WWA is further distinguished as the largest seller of second-hand construction equipment in the Arab Gulf Cooperation Council (GCC) countries -- Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain and Oman. Auctions are conducted on location and through the WWA BIDLive online bidding system.

WWA is now beginning the execution of its expanded operations plan to leverage its dominant equipment auction and trading base into a diversified business including activities in the Gulf region that are related to heavy equipment. For more information, visit For recent news and quotes, visit Yahoo! Finance at To sign up to receive e-mail alerts with the latest news on WWA Group, go to:

A number of statements contained in this press release may be considered to be forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including market acceptance of services provided, competitive market conditions, governmental regulation, and auction results. The actual results WWA Group may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. WWA Group encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-KSB and Form 10-QSB. WWA Group's public filings may be viewed at

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