Ritchie Bros. Auctioneers celebrates 50 years in business and 10th anniversary on NYSE by ringing The Closing Bell(R)



    VANCOUVER, Jan. 14 /CNW/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA)
celebrated its 50th anniversary in the auction business and 10th anniversary
as a publicly traded company by ringing The Closing Bell(R) at the New York
Stock Exchange (NYSE or the Exchange) in New York City on Monday, January 14,
2008. Ritchie Bros. CEO Peter Blake, who rang the bell to close trading for
the day, was joined at the Exchange by President Rob Mackay, COO Bob Armstrong
and other senior executives. Ritchie Bros., the world's largest auctioneer of
industrial equipment, has been conducting unreserved auctions since 1958. The
Company's common shares were first listed on the NYSE on March 10, 1998, at a
price of US$8.50 per share (split adjusted). At market closing on Monday,
January 14, 2008, Ritchie Bros.' share price was US$77.63. Ritchie Bros.
recently announced record-breaking preliminary results for the 2007 fiscal
year.
    "We're thrilled to be back at the New York Stock Exchange, celebrating
fifty years in the auction business and ten years of strong growth as a public
company," said Mr. Blake. "Since listing on the Exchange in 1998, we have
expanded our global network of offices and auction sites, introduced our
real-time internet bidding service, and diversified into new market sectors.
Every year since our listing the demand for our services has increased,
resulting in a greater number of consignments, more unreserved auctions and
higher gross auction proceeds. We have enhanced the value that we provide to
our customers, and that has translated into greater value for our
shareholders."
    When Ritchie Bros. went public in 1998, it had 50 locations in 14
countries, including 21 auction sites. That year, the Company conducted over
100 unreserved auctions for total gross auction proceeds of more than
US$1 billion. Ten years later, Ritchie Bros. has over 110 locations in more
than 25 countries, including 37 auction sites. In 2007, the Company conducted
more than 350 unreserved industrial and agricultural auctions around the
world, generating record annual gross auction proceeds in excess of US$3
billion. Ritchie Bros. was established in 1958 in Kelowna, British Columbia,
Canada.

    ATTENTION: MEDIA - A photo of Ritchie Bros. at the NYSE is also available
on the Company's web site at www.rbauction.com/media.

    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.

    /NOTE TO PHOTO EDITORS: A photo accompanying this release is available on
    the CNW Photo Network and archived at http://photos.newswire.ca.
    Additional archived images are also available on the CNW Photo Archive
    website at http://photos.newswire.ca. Images are free to accredited
    members of the media/





For further information:

For further information: Kim Schulz, Corporate Communications Manager,
Ritchie Bros. Auctioneers, Cell: (604) 788-5379 or (800) 663-8457 or email
kschulz@rbauction.com


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