Mr. Ravi Saligram reports

RITCHIE BROS. ANNOUNCES MANAGEMENT DEPARTURE

Ritchie Bros. Auctioneers Inc.'s chief sales officer, global key accounts, Steve Simpson, is resigning from the business to pursue other opportunities.

"Steve has been an inspirational leader for our sales team during his 20 years in management and his 25 years with Ritchie Bros.; most recently, he was chief sales officer on a worldwide basis the past three years," said Ravi Saligram, chief executive officer, Ritchie Bros. "I want to thank Steve for his many important contributions to our company. He was instrumental in growing Australia from a frontier market into an established, self-sustaining business for us. He successfully grew our market share in the Western [United States] region. And his passion for the transportation sector was a driving force behind Ritchie Bros.' becoming one of the leading auction companies in the transportation space. We all wish him well as he begins a new chapter in his career."

Commenting on his resignation, Mr. Simpson said: "I have spent half my life at Ritchie Bros., in roles that took me around the world and gave me opportunities to work with our industry's best and brightest. In fact, many of my closest friends are Ritchie Bros. employees and customers. It has been one of the most rewarding career runs anyone could ask for, and I look forward to continuing my relationship with the company as a customer going forward."

Related to this announcement, Ritchie Bros. Auctioneers' global key accounts initiative will be consolidated under Mike Johnston, senior vice-president, strategic accounts. Mr. Johnston will also continue to oversee the company's strategic accounts group, which develops and fosters client relationships with national and international companies, and government departments.