Ritchie Bros. Auctioneers to Unveil New Home in South Vienna, OH

. March 22, 2007

Ritchie Bros. Auctioneers (TSX: RBA)(NYSE: RBA), the world’s largest truck and industrial equipment auctioneer, will be unveiling its new state-of-the-art auction facility in South Vienna, Ohio at its grand opening reception being held April 10, and at its first unreserved truck and industrial equipment auction being held April 11 and 12, 2007. Bidders from around the world are expected to attend the Company’s first auction at its permanent facility.

The new 140-acre South Vienna permanent auction site is one of 18 auction sites the Company has in the United States. Ritchie Bros. has a total of 35 auction sites in the United States, Canada, Australia, Mexico, Singapore, Europe and in the Middle East.

“We have held 30 unreserved auctions in Ohio during the past 15 years at temporary locations and we are really excited to now have a permanent presence in the South Vienna community,” says Scott McGregor, Area Manager for Ritchie Bros. “We have thousands of customers in Ohio that travel to our other auction sites around the world. It is nice to now bring the Ritchie Bros. auction experience to our Ohio customers in a permanent way.”

ATTENTION: MEDIA – YOU ARE INVITED TO THE GRAND OPENING EVENTS AT THE AUCTION SITE:

200 Ritchie Drive, South Vienna (Tel: 937.568.9500)

Tuesday, April 10/07 – 6:30pm-8:30pm — Grand opening reception at the auction facility. Includes food, drinks and music by popular band Phil Dirt & The Dozers. All welcome.

Wednesday, April 11/07 and Thursday, April 12/07- 8am – Auction start. Items include 55 crawler tractors, 85+ hydraulic excavators, 125+ scissorlifts, 45+ loader backhoes, 85+ dump trucks, 65+ truck tractors, 25 wheel loaders, plus more.

Wednesday, April 11/07 – 10am approximately – Ribbon cutting ceremony (media photo opportunity) with South Vienna Mayor Toni Keller, Ritchie Bros. Auctioneers CEO Peter Blake, Ritchie Bros. Vice-President Curt Hinkleman, and Ritchie Bros. Area Manager Scott McGregor.

The Company expects to hold four auctions at its new facility annually.

A Ritchie Bros. auction is an entertaining, fast-paced affair. Mobile trucks and equipment move over a ramp in front of a seated crowd while the crowd bids on the items. The company’s auctioneers are experts at keeping up the fast pace of the sale and all prices are determined by the bidders in the crowd and online. Every item sells on auction day, and often items are sold in under a minute. Last year, Ritchie Bros. held over 175 unreserved industrial auctions around the world, generating gross auction sales of US$2.72 billion.

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 and other assets utilized in the construction, transportation, material handling, mining, forestry, petroleum, marine, real estate, and agricultural industries. The Company maintains a website at www.rbauction.com.

Directions to site: From Port Columbus International Airport, go left on International Gateway. Merge onto I-670 W toward Columbus. I-670 W becomes I-70W. Follow to Exit 66 OH-54 Catawba/South Vienna. Turn left on S. Urbana St/OH-54. Turn right on Ritchie Drive and follow to sale site.

www.rbauction.com

Category: Auction News

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