Press Release

Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer, today announced that it conducted a large Edmonton, Alberta auction on June 15, 2006. The unreserved auction, which sold over 2,350 items, generated gross auction sales in excess of CA$26 million.

“Both late-model equipment and real estate sold strongly at the auction,” said Brian Glenn, Ritchie Bros. Regional Manager. “Thursday’s auction shows us that the Alberta market is still hot.”

More than 2,950 registered bidders from nine countries, 26 U.S. states, all 10 Canadian provinces, plus two Canadian territories, took part in the unreserved auction.

Over 480 internet bidders, using the Company’s real-time bidding service, rbauctionBid-Live, purchased in excess of CA$3 million worth of truck and equipment items. The internet participants were buyers or runner-up bidders on 22% of the lots available for online bidding.

There are over 24,000 truck and equipment items featured in 34 unreserved industrial auctions and 14 unreserved agricultural auctions in the upcoming Ritchie Bros. auction calendar. Details on all upcoming Ritchie Bros. auctions, including equipment that will be sold, are available on www.rbauction.com.

About Ritchie Bros. Auctioneers

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 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.

Investors and potential investors should note that this information may not be indicative of the overall financial performance of the Company for this or any period.

Posted: 06|19|06 at 12:28 pm. Filed under: Auction News.