Auction Pioneers Launch AmeriBid.

* Proprietary Global Platform to Help with Foreclosure Crisis While Investing in America's Communities

LAS VEGAS -- Auction pioneers Larry Latham, Louis B. Fisher III and Doug Dennison have come together to form AmeriBid, a company which provides multiple solutions and proven exit strategies to institutional owners of financial and real estate portfolios using its proprietary global platform while investing in America's communities.

Currently, more than one million U.S. homes are in foreclosure and this number will continue to grow throughout 2008. This crisis will have a growing financial impact on sales and value for local, regional, state and national real property owners, industry professionals, businesses, government agencies and community service organizations.

"We need positive action now that puts an owner back into each home and at the same time strengthens the community in which it is located," says Fisher, CEO of AmeriBid. "The AmeriBid plan is for each and every REO that AmeriBid converts, there will be direct enhancements to the community."

The AmeriBid Method centers on 'Investing in America's Communities' by focusing on every foreclosure as a home in a neighborhood - in a community.

Fisher continued by saying that their strategy is to share a portion of the marketing savings and/or a portion of the earned conversion revenue with the community through direct donations, matching-grants, community challenges and sponsorships.

Latham, founder and chairman of the board of AmeriBid, was the original founder of Homebid, the first real estate internet auction company. Fisher, chief executive officer of AmeriBid, is National Auctioneer for Sperry Van Ness, the 3rd largest commercial/investment brokerage firm in the U.S. as well as former Chief Executive Officer of Fisher Auction Co., Inc., a 3rd generation auction company. Dennison, president of AmeriBid, previously served as Executive Vice President for Fisher Auction Co., Inc. Collectively, the trio has been involved in the REO and real estate industry for the past three decades, selling more than 150,000 properties nationwide.

About AmeriBid

AmeriBid provides multiple solutions and proven exit strategies nationwide to institutional owners of financial and real estate portfolios using its proprietary global platform while creating maximum returns on investment. AmeriBid services the accelerated asset disposition needs of financial institutions, government agencies, REITs, hedge funds and bankruptcy courts. AmeriBid has representation throughout the United States in Las Vegas, Atlanta, Dallas, Phoenix, Los Angeles and Florida with plans to open four additional offices in 2008. AmeriBid professionals contribute strong operational and technical abilities with extensive experience with financial institutions and real estate businesses. Its group has worked for HUD, Fannie Mae, FDIC, RTC, GSA, VA and hundreds of lenders across the country. To learn more about AmeriBid's national expertise and The AmeriBid Method, go to www.AmeriBid.com or contact AmeriBid Corporate Headquarters at Tel: [phone], Fax: [phone], or Email: [e-mail]