Ritchie Bros. Auctioneers To Hold Ground-Breaking Ceremony in Medford, Minnesota

AuctionPublicity.com – Ritchie Bros. Auctioneers (NYSE:RBA) (TSX:RBA), the world’s largest truck and industrial equipment auctioneer, will be holding an official ground-breaking ceremony in Medford, MN, on October 31, 2007, to announce the start of construction of a new permanent auction site for the Company. Ritchie Bros. currently has 37 auction facilities world-wide.

Construction will start on the Medford, MN property in the next few weeks. The new auction facility will sit on approximately 70 acres of the 140-acre property, with plenty of room for future growth. The facility will include an approximately 30,000 square foot auction theater and administrative offices, a 24,000 square foot refurbishing building and a 2,200 square foot equipment check-in building. The grand opening of the new facility is planned for the second half of 2008. The new permanent auction site will replace the Company’s existing facility located in Lakeville, MN (at 22100 Pillsbury Avenue) where the next unreserved public auction is being held December 11, 2007.

“We are very excited to be building our state-of-the-art auction facility here in Medford,” said Ritchie Bros. Auctioneers Regional Manager Andy Artley. “We’ve held close to 75 multi-million dollar auctions in Minnesota throughout the years…going back to 1985. Our unreserved public auctions were always held at temporary facilities in cities like: Minneapolis, Hamel, Hastings, Osseo, Eagan and St. Paul, and then in 1991 we moved into our 29-acre property in Lakeville. It’s been a great place to conduct our auctions, but we have just outgrown our current facility there.

“Our customers will really benefit from our permanent presence in Medford, where we will plan on holding four unreserved industrial auctions each year,” said Artley. “The site is very large and will be able to accommodate more equipment and larger auctions. Because of our regular auction schedule, our customers will be able to plan ahead to participate in our auctions either as a buyer or a seller, or even both!” -0- GROUND-BREAKING CEREMONY: When: Wednesday, October 31, 2007 at 3:30pm Where: The new Medford Ritchie Bros. property at 6000 Frontage Rd W in Medford. Who: There are a number of dignitaries scheduled to attend the ground-breaking ceremony including: – Senator Dick Day – Medford Mayor Daniel Kaiser – Members of Medford Council (Michael Corbin, Marie Sexton, Danny Thomas and Brenda DeMars) – Owatonna Mayor Thomas Kuntz – Andy Artley, Ritchie Bros. Auctioneers Regional Manager – Tim Kander and Justin Filuk from Ritchie Bros. Auctioneers property department – Met-Con (General Contractors) Why: A photo opportunity for the media with the ability to conduct interviews on site.

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 assets, including equipment, trucks and other assets 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.

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