Ritchie Bros. launching new online bidding interface at World of Concrete

LAS VEGAS, NEVADA (February 2, 2009) – Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world’s largest auctioneer of industrial equipment, will be launching its new online bidding interface at World of Concrete 2009 in Las Vegas, Nevada this week. Equipment buyers will have their first opportunity to use the redesigned and enhanced interface on Thursday, February 5, when Ritchie Bros. conducts its first auction of 2009 at World of Concrete to raise funds for educational programs. Ritchie Bros. will waive its internet purchase fee for this benefit auction, which supports the Concrete Industry Management (CIM) program expansion. Interested buyers can bid in person at World of Concrete or online at www.rbauction.com.

“We’re excited to be returning to the World of Concrete to raise funds to support the Concrete Industry Management program expansion – and we’re equally excited to be launching our new online bidding interface during the show,” said Peter Blake, Ritchie Bros. CEO. “Since introducing our real-time internet bidding service in 2002 we’ve helped thousands of online bidders purchase billions of dollars of equipment; more than 99,000 people from over 180 countries are now approved to bid online at our auctions. Our new online bidding interface offers more features and more flexibility, including the ability to follow multiple auctions in real time, making it easier to bid in many auctions on the same day. Online bidding at a Ritchie Bros. auction will be closer to the experience of bidding in person than ever before.”

The CIM benefit auction features a wide range of donated items, including equipment, cement and sports and travel packages. Like every Ritchie Bros. auction, the CIM auction will be unreserved, which means there are no minimum bids or reserve prices. Every item will be sold to the highest bidder on February 5, regardless of price.

CIM benefit auction details: · Location: Room N262, Las Vegas Convention Center, 3150 Paradise Rd, Las Vegas, NV (on-site at World of Concrete). · Date: Thursday, February 5, 2009. Auction start time: 1:00 p.m. Registration opens at 11:00 a.m. · Interested buyers can register to bid in person, in real time over the internet or by proxy. Registration is free. · In person registration: booth #C4139 (Ritchie Bros.) at World of Concrete. Photo ID is required. · Internet bidders must register online at www.rbauction.com. First-time internet bidders are advised to register online 2-3 business days before the auction. Ritchie Bros. will waive its internet purchase fee for this auction only. · Full details about the items in the auction, including photos, are available at www.rbauction.com. · All proceeds from the benefit auction go to support the expansion of post-secondary educational programs developed by the National Steering Committee (NSC) for Concrete Industry Management (CIM).

Later this week, Ritchie Bros. will sell more than 1,200 equipment items for the construction, transportation and other industries during a one-day unreserved public auction at its Las Vegas auction site on Friday, February 6. For more information, visit www.rbauction.com.

About Ritchie Bros. Established in 1958, Ritchie Bros. Auctioneers (NYSE and TSX: RBA) is the world’s largest industrial auctioneer, selling more equipment to on-site and online bidders than any other company in the world. The Company has over 110 locations in more than 25 countries, including 38 auction sites worldwide. Ritchie Bros. 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, agricultural, material handling, mining, forestry, petroleum and marine industries. The Company maintains a web site at www.rbauction.com and sponsors an equipment wiki at www.RitchieWiki.com.

For more information contact:
Kim Schulz, Corporate Communications Manager, Ritchie Bros. Auctioneers
Mobile: +1.604.788.5379 or email: kschulz@rbauction.com