Ritchie Bros.' combined Dubai-Singapore auction increases choice in global market participation

    DUBAI, June 6 /CNW/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA) made
it easier for thousands of equipment buyers and sellers to access the global
marketplace this week, offering multiple bidding options at 18 unreserved
auctions in four countries, including a multi-million dollar combined
Dubai-Singapore auction. Almost 600 people from 52 countries registered to bid
either in person, by proxy or over the internet at the US$33 million
unreserved auction at the Company's Dubai, United Arab Emirates auction site
on June 2, 3 & 4, 2008. Internet bidders purchased more than US$3 million of
equipment in the auction, setting a new site record for online sales.
    On Day Two of the auction, Ritchie Bros. conducted a live auction
simulcast of its multi-million dollar Singapore auction at the Dubai site,
giving customers in the Middle East the opportunity to bid in person on
equipment being sold in Singapore. On-site bidders in Dubai purchased more
than US$1.7 million of equipment from the Singapore auction.
    "We saw strong prices across a range of equipment this week in Dubai,
with particularly good returns on the pipelayers and trucks," said Steve
Barritt, Ritchie Bros. Area Manager. "We're always looking for innovative ways
to help our customers access the global equipment marketplace, such as
internet bidding and live auction simulcasts. The combined auction enabled our
customers in the Middle East to bid on two auctions from one location, giving
them access to an even wider selection of equipment, while our consignors in
Asia were able to reach a greater audience of interested buyers. It's
important to give people choices that meet their individual needs."
    Ritchie Bros. sold more than 2,000 used and unused equipment items at the
Dubai auction, including wheel loaders, articulated dump trucks, cranes, motor
graders, motor scrapers, skid steer loaders, loader backhoes, truck tractors
and trailers, mixer trucks, concrete pump trucks, dump trucks, pickup trucks,
SUVs and cars.
    Ritchie Bros., the world's largest industrial auctioneer, also conducted
a "50th anniversary auction" this week in Kelowna, BC, Canada, where the
Company was founded in 1958.
    PHOTO AVAILABLE: A unique 50th anniversary photo taken at the Kelowna
auction site can be downloaded from www.rbauction.com/media. The photo
features current and former Ritchie Bros. staff, including Dave and John
Ritchie (who started the Company with their brother Ken), standing in a "50"
formation with rows of equipment in the background.

    About Ritchie Bros.

    Established in 1958, 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
    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, Cell: (604) 788-5379 or email:
kschulz@rbauction.com; Or Steve Barritt, Area Manager, Ritchie Bros.
Auctioneers, Dubai auction site, tel: +971 4 883 8398

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