Mr. Mike Johnston reports

RITCHIE BROS. AUCTIONEERS CONDUCTS MULTI-MILLION DOLLAR GRAND OPENING AUCTION IN LAS VEGAS, NEVADA

Ritchie Bros. Auctioneers Inc. officially opened its new 33,000-square-foot auction building in northern Las Vegas earlier this morning during a multimillion-dollar grand opening auction. As of 2 p.m. (local time) today, more than 2,100 bidders from 42 countries have registered on site or on-line to participate in today's unreserved public auction, which features close to 1,300 heavy-equipment and transportation items. A ribbon-cutting ceremony held earlier today marked the official opening of the new auction building located on exit 58 off I-15NA, 20 minutes north of McCarran International Airport.

"It wasn't very long ago that it was a serious challenge for local contractors to find what they need when they needed it," said Sean Stewart, executive vice-president of the NCA/AGC, which represents over 700 local general contractors, subcontractors and suppliers. "By establishing this facility and other investments they've made in our local economy, Ritchie Bros. has made equipment available to our contractors and subcontractors overnight -- so we thank them for helping us have quick access to equipment."

David Rice from Rice Construction, a Las Vegas-based underground utility contractor, added: "Us contractors come to Ritchie Bros. to buy and sell -- and we know the deal is square on both ends. Now they're welcoming us in this beautiful new facility; you can't ask for better treatment anywhere else."

"We have been holding our unreserved public auctions in the state of Nevada since 1983, and today we've achieved a great milestone thanks to our customers and the local community who have supported us over the years," said Mike Johnston, senior vice-president, Ritchie Bros. Auctioneers. "We've had a great turnout and there has been strong competition from the bidders during the auction so far. We look forward to continue providing turnkey business solutions for local and out-of-state customers at our new facilities."

The Ritchie Bros. auction calendar currently features more than 80 unreserved public auctions. The next Ritchie Bros. Las Vegas auction is scheduled for July 27, 2012. If you're interested in selling equipment at this or any upcoming Ritchie Bros. auction, contact the local site at 1-702-644-2468 or visit the Ritchie Bros. website.