High demand for quality equipment at Ritchie Bros. CA$23 million Grande Prairie auction

    Close to 2,400 bidders vie for more than 1,700 equipment,
    transportation and real estate lots in unreserved auction

    GRANDE PRAIRIE, AB, Nov. 19 /CNW/ - A large selection of construction and
transportation equipment, in addition to agricultural land, attracted almost
2,400 registered bidders to an unreserved Ritchie Bros. auction in Alberta
last week. The unreserved public auction was conducted on November 14 & 15,
2007 at the Company's permanent auction facility in Grande Prairie.
    More than 1,700 lots from close to 270 consignors were sold over two
days, generating more than CA$23 million (US$23 million) in gross auction
proceeds. The auction attracted bidders from 13 countries, including 29 U.S.
states and 11 Canadian provinces and territories - including more than 630
people who registered to bid online using the Company's real-time internet
bidding service, rbauctionBid-Live.
    "We had another strong Alberta auction, showing that the demand for good
quality equipment remains high. Transportation equipment sold particularly
well," said Brian Podruzny, Ritchie Bros. Regional Manager. "We saw good
participation from the internet, but we're also seeing more onsite bidders at
our auctions. An increasing number of equipment users are recognizing the
benefits of buying at our unreserved auctions."
    The auction featured a large selection of late-model and unused
transportation equipment, as well as a major realignment for G. D. Cornish
Trucking Ltd. of Fort Nelson, B.C. The company sold more than 50 items in the
auction, including water trucks, truck tractors, dump trucks and trailers.
    "Ritchie Bros. did an excellent job; I'm more than happy with the results
of the auction," said company owner Gary Cornish. "Given the local economy and
the shortage of experienced workers, I have decided to downscale my fleet and
buy some newer, lower emissions, more economical trucks. The reason I chose
Ritchie Bros. for this realignment is that, at the end of the day, everything
was sold."

    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.

    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.

For further information:

For further information: Kim Schulz, Corporate Communications Manager,
Ritchie Bros. Auctioneers, Head office tel: 1-800-663-8457 or Email:
kschulz@rbauction.com; Or Brian Podruzny, Regional Manager, Ritchie Bros.
Auctioneers, Grande Prairie auction site, tel: (780) 538-1100

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