Dovebid to Webcast ``Dot-Com Exchange III'' Capital Asset Auction From San Jose On June 26-27; Kozmo.com Among More Than 20 Dot-Coms to be Auctioned in 2-Day Worldwide Broadcast

Business Wire, June 20, 2001

Business Editors

FOSTER CITY, Calif.--(BUSINESS WIRE)--June 20, 2001

DoveBid(TM), Inc., a leader in Webcast industrial auctions, valuation services, and other capital asset disposition services for the Global 4000, today announced that a two-day "Dot-Com Exchange III" auction will be held June 26-27 at the Hyatt San Jose in San Jose, Calif. The business assets of more than 20 dot-com companies, including Alphadog, Burst, Charitableway, CompUSnet, Flycode, Kozmo.com, Impresse, MSHOW.com, and MusicBank, will be auctioned. Assets for sale will include computer equipment, networking equipment, office furnishings and telecommunications equipment, as well as some typical dot-com items such as foosball tables and scooters.

"Our first Dot-Com Exchange attracted about 300 bidders. We now anticipate at least 1,000 bidders will participate in each of our upcoming Dot-Com Exchanges," said Kirk Dove, DoveBid's president of auction services and chief auctioneer. "The growth and popularity of these auctions harnesses two benefits for DoveBid buyers -- good deals on fairly new equipment and the ability to participate over the Internet. At times, we've had as many as 100 bidders from the Internet actively competing for the same asset, and have logged bidders from all six inhabited continents into the same auction."

This is the third Dot-Com Exchange that DoveBid has conducted in the past three months; the last exchange in May included assets from over 40 companies. DoveBid has seen thousands of bidders participate in these dot-com auctions, both on the auction floor and through the Internet. At the May Dot-Com Exchange, over 200 bidders came to the San Jose location, while almost 1,000 logged on via the Internet. Through Webcast auctions, sellers reach a larger pool of buyers, and buyers also benefit by saving money on travel expenses, and through the convenience of bidding from anywhere around the globe.

"Like everyone else these days, I'm watching my corporate budget pretty carefully," said Jeffrey Simon, president of Jesco Enterprises, LLC. "Purchasing items at auction prices is a very practical way to make my IT dollars stretch just a little further. At the Pinnacle Micro auction held in January, I came to buy only one item, but ended up buying a trailer full of assets. There were so many great bargains to be had at the auction."

The Dot-Com Exchange III will take place at the Hyatt San Jose, 1740 North First Street, San Jose, Calif. 95112, beginning at 10:00 a.m. (PDT) Tuesday, June 26, and continuing through Wednesday, June 27, 2001. Participants may attend in-person or bid online. Assets may be previewed on Monday, June 25 from 9 a.m. to 4 p.m. PDT at multiple facilities. Detailed preview information, a full asset catalog, and online bidding instructions are available for viewing at www.dovebid.com.

About DoveBid(TM)

DoveBid, Inc. is a leader in Webcast industrial auctions and valuation services, and provides other capital asset disposition services for Global 4000 businesses. Founded in 1937, DoveBid has conducted thousands of industry-specific auctions on behalf of corporations, government agencies and financial institutions around the world. DoveBid's portfolio of asset disposition services includes live Webcast auctions, featured online auctions, a corporate marketplace, trading services, on-location auctions, sealed bid Internet sales, and private treaty sales. DoveBid Valuation Services is one of the world's largest capital asset appraisal companies, with the industry's largest valuation database and real market data. DoveBid focuses on 19 categories of capital assets, including: computers; electronic test and measurement; metalworking and machine tools; plastics equipment; semiconductor fabrication equipment; and telecommunications equipment.

DoveBid has more than 20 offices throughout North America, Europe and the Asia-Pacific region. More information on DoveBid can be found at http://www.dovebid.com or by contacting company headquarters in Foster City at 800/665-1042 or 650/571-7400.

Note to Editors: DoveBid and the DoveBid logo are trademarks of DoveBid, Inc.