Ritchie Bros. Auctioneers to Hold Official Grand Opening in Saskatoon, Saskatchewan

    Mayor Atchison to officially open new Saskatoon auction facility.

    SASKATOON, June 27 /CNW/ - Ritchie Bros. Auctioneers (NYSE and
TSX: symbol RBA), the world's largest industrial and agricultural equipment
auctioneer, will be unveiling its new permanent auction facility in Saskatoon,
Saskatchewan at its official grand opening reception being held July 8, and at
its unreserved agricultural equipment auction being held July 9, 2007. Bidders
from around the province, across the country and around the world are expected
to participate in the Company's auction at its permanent facility.
    The new 60-acre Saskatoon permanent auction site is one of nine auction
sites the Company has in Canada. Ritchie Bros. Auctioneers, which started its
auction business close to 50 years ago in British Columbia, has a total of 35
auction sites in Canada, the United States, Australia, Mexico, Singapore,
Europe and in the Middle East.
    "For more than 40 years, we have held over 285 unreserved auctions at
temporary locations in Saskatchewan and we are now very pleased to be able to
offer our customers this permanent auction facility," says Kevin Tink, Vice
President of Ritchie Bros. "Whether they are interested in buying or selling
equipment or farmland, we are here in a local permanent facility and are able
to meet their needs better."

    AUCTION SITE: Hwy 12N at 87th Street, Saskatoon (Tel: 306.933.9333)

    Sunday, July 8/07 - 5:30pm - 7:30pm - Grand opening reception at the
auction facility. Includes complimentary catered food and refreshments, and
music by popular band The Hot Tamales. Media and customers welcome.

    Monday, July 9/07- 9am - Ribbon cutting ceremony (before auction start)
with Saskatoon Mayor Donald J. Atchison; RM of Corman Park Reeve Ed Hobday; RM
of Corman Park Council Member Irene Pilka; Ritchie Bros. Auctioneers Vice
President Kevin Tink.

    9am auction start. More than 700 items will be sold on auction day,
including: 50+ combines, 30+ balers, 20 tractors, swathers, grain trucks,
crawler tractors, excavators, trucks, cars, trailers, recreational equipment,
plus more.

    A Ritchie Bros. auction is an entertaining, fast-paced affair. Mobile
trucks and equipment move over a ramp in front of a seated crowd while the
crowd bids on the items. The Company's auctioneers are experts at keeping up
the fast pace of the sale and all prices are determined by the bidders in the
crowd and online. Every item sells on auction day, and often items are sold in
under a minute. Last year, Ritchie Bros. held over 300 unreserved industrial
and agricultural auctions around the world, generating gross auction sales of
US$2.72 billion.

    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 and other assets
utilized in the construction, transportation, material handling, mining,
forestry, petroleum, marine, real estate, and agricultural industries. The
Company maintains a website at www.rbauction.com.

    Directions to site from Saskatoon: Take Hwy No.12 North (Blaine Lake Hwy)
to the intersection of Idylwyld Dr N and 87th St E in the RM of Corman Park.
Watch for signs.

For further information:

For further information: Kim Schulz, Corporate Communications Manager,
Ritchie Bros. Auctioneers, Tel: 1-800-663-8457, or (604) 273-7564, or Email:

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