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Announcement

Bankhead Contracting, Inc. Liquidates $1.2 Million Through IronPlanet™

Pleasanton, CA — April 5, 2007 — Bankhead Contracting, Inc. recently completed a total liquidation of its truck and trailer inventory through IronPlanet™ (www.ironplanet.com). The liquidation earned the Atlanta-based contractor $1.2 million in equipment sales.  

“IronPlanet once again proved that it is the premiere auction service for those in the industry looking to liquidate their inventory,” said Mike Groves, Vice President of territory sales with IronPlanet. “IronPlanet auctions consistently draw larger audiences and achieve better results for sellers.”.

“Online liquidations typically pay off,” Groves said. Companies wishing to liquidate with IronPlanet generally receive at least 10 percent more in revenue than those doing a traditional liquidation. For companies with larger inventories, IronPlanet places a banner on its Web site directing visitors to a separate, one-owner auction.

“Transporting all of your equipment to a live auction is cost-prohibitive,” said Groves. “With IronPlanet auctions, the equipment stays on the lot, saving our customers a lot of time, money and headaches.”

The Bankhead liquidation was part of the final first quarter IronPlanet auction, which drew 9,000 visitors from 34 states and 11 countries, for a total of more than $8.3 million in gross equipment sales. First-quarter IronPlanet auctions combined to sell nearly $42.6 million and 1,700 pieces of equipment, including a portable central mix concrete plant that sold for $445,000.

March marked the seventh anniversary of the IronPlanet web site launch. It has since become the third-largest heavy-equipment auction company. For more information about IronPlanet online auctions, please visit www.ironplanet.com.

IronPlanet is the world's leading online auction company for used heavy equipment. They facilitate the sale of a broad range of heavy equipment and trucks by providing an easy-to-use interface and detailed, guaranteed inspection reports enabling customers to buy and sell with confidence.