B2B Auctioneer DoveBid Lists Over 200,000 Assets Since Dovebid.com Web Site Launch.

Business Editors/High Tech Writers

FOSTER CITY, Calif.--(BUSINESS WIRE)--Jan. 14, 2000

63-year-old Auction House Underwent Rapid Corporate Expansion

in 1999 in Support of Online Auction Capabilities

DoveBid, Inc., the world's leading online and on-site business-to-business (B2B) auctioneer and capital asset sale advisor, today announced that at the end of 1999, the total number of capital assets listed for auction on its DoveBid.com Web site since the November 1st launch had broken the 200,000 mark.

E-COMMERCE PROGRESS

These business assets range across 19 categories such as computers, printed circuit board equipment, textile equipment and many others. Unlike sites featuring collectible items like Beanie Babies, some notable items for sale on DoveBid.com include:

--   a $500,000 industrial power generator;
--   a $197,500 semiconductor defect inspection system; and
--   a $200,000 juice processing system and assembly line.

Additionally there are thousands of computer, biotech, textile and 16 other categories of assets, representing millions of dollars of inventory.

Since the DoveBid.com launch, DoveBid's customers around the world -- many of them Fortune 500 companies -- have been able to acquire, or sell, thousands of capital assets in 19 different categories by handling the desired transaction over the Web at DoveBid.com, in addition to participating in DoveBid's long-established on-site auctions. Because the Web enables the coalescence of assets -- regardless of their physical location -- DoveBid.com's `virtual exchange' facilitates the transfer of dispersed capital assets that were previously destined to sit in storage because of inefficient after-market distribution processes.

"Company developments in 1999 put us well on our way to achieving the corporate mission of building the world's largest and most respected B2B capital asset auction company," said Ross Dove, chairman and chief executive officer of DoveBid. "2000 should see our continued growth as we combine the momentum and known brand of our on-site business with leading-edge technology and the power of the Internet."

FINANCING

To finance its online services, DoveBid raised a total of $16 million in private financing in 1999. San Francisco-based Fremont Ventures, a part of the Fremont Group, led the first round of venture funding in June, and also invested in the Series B round of $12 million. Series B, announced in October, was led by Mayfield Fund, a private venture capital partnership based in Menlo Park, California.

EXECUTIVE TEAM

Evidence of DoveBid's phenomenal growth can also be seen by the additions DoveBid has made to its executive team in the fourth quarter of 1999. Jeff Crowe joined as president and chief operating officer, Cory Ravid as chief financial officer, Francis Juliano as chief technology officer and vice president of E-Commerce, and Steven Pollock as vice president of marketing.

Before joining DoveBid, Jeff Crowe was co-founder, president, CEO and board member of Edify Corporation, a software and services company focused on Internet and voice e-commerce. While at Edify, he led the company through its initial public offering on NASDAQ in 1996 as well as its acquisition by S1 (NASDAQ: SONE) Corporation in November 1999.

Ravid previously served as chief financial officer of MacGregor Golf Co. and DuPont Flooring Systems, and most recently, as CFO and partner at The Parkside Group, a private equity investment firm.

Francis Juliano was the director of global e-commerce (technology and product development) for Office Depot Online (NASDAQ: ODP), where he was responsible for building the integration between OfficeDepot.com's front-end and state-of-the-art back-end fulfillment.

Steven Pollock was vice president of worldwide marketing at Edify Corporation under Crowe, and had previously held the position of executive vice president of product marketing and operations for Portera Systems, a leading application service provider for the consulting services industry.

BOARD OF DIRECTORS

In addition to the new executive team members, DoveBid also welcomed several faces to its board of directors: Blake Winchell, General Partner of Fremont Ventures; Grant Heidrich, General Partner of Mayfield Fund; Jeff Crowe, its president and COO; and Todd Rulon-Miller, a former senior vice president of Netscape Corporation.

Rulon-Miller is founding partner of Apogee Venture Group, an "angel" venture group that assists technology companies in the very early stages of development. Rulon-Miller is also on the board of directors for Active Software, Icarian Inc., Oblix Inc. and WebSentric AG, and on the marketing advisory board for E.piphany. While at Netscape, Rulon-Miller was senior vice president of sales, technical support, and professional services as the company grew to over $600 million in revenues and over 3500 employees in less than three years.

Also in 1999, DoveBid supplemented its internal resources with a seasoned group of outside forces, including management consultants Bain & Company, the advertising agency Gardner, Geary, Coll & Young (GGC&Y), and high-tech public relations specialists Sterling Communications.

About DoveBid

DoveBid is the world leader in on-line and on-site business-to-business (B2B) capital asset auctions. With millions of dollars of inventory available at www.dovebid.com, and an extensive list of Fortune 500 customers, DoveBid is creating a liquid, global market for capital assets.

DoveBid's e-commerce auction site features: computers, disk drive and media manufacturing equipment; biotech and lab equipment electronics; electronic test and measurement; food and chemical processing; woodworking equipment and mills; metalworking and machine tools; office furnishings and equipment; plastics equipment; audio-video-broadcast production equipment; power production equipment; printing equipment; printed circuit board fab and assembly equipment; semiconductor fab equipment; telecommunication equipment; textile and apparel manufacturing equipment; plant support equipment; and petrochemical equipment. DoveBid also provides complete valuation services for sellers, buyers and financial institutions.

Since 1937, DoveBid has successfully sold more than $5 billion in corporate assets, selling more than 10 million individual lots. For more information, visit DoveBid*s web site at http://www.dovebid.com or call company headquarters in Foster City, CA, at [phone] or 650/571-7400.