Ritchie Bros. to conduct complete dispersal for AB Hollingworth & Son
Construction Ltd. in Grande Prairie auction

Local family-owned construction company set to retire after 60 years in the business

GRANDE PRAIRIE, AB, June 18 /CNW/ - Ritchie Bros. Auctioneers (NYSE andTSX: RBA), the world's largest industrial auctioneer, will be conducting a multi-million dollar unreserved public equipment auction next week (June 24 - 25) at the Company's permanent auction site in Grande Prairie, Alberta. More than 2,700 equipment items, trucks and real estate will be sold in the auction - with no minimum bids or reserve prices. Bids can be made in person at the Grande Prairie auction site, online in real time at www.rbauction.com, or by proxy.

As part of the auction, Ritchie Bros. will be conducting complete dispersals for four Alberta and BC companies, including AB Hollingworth & Son Construction Ltd., which has been in business for more than 60 years.

"I am really looking forward to the auction next week and seeing bidders from around the world competing for our equipment," said Richard Hollingworth, owner of AB Hollingworth & Son. "We have been buying and selling equipment with Ritchie Bros. for more than 30 years. They have always treated us with respect and brought us great results so we knew we could trust them when it was time to retire."

Founded in 1947 with just one employee and three pieces of equipment, AB Hollingworth & Son has served the construction needs of the Valleyview, Fox Creek, Swan Hills, Grande Cache, White Court, and Grande Prairie areas for more than 60 years. Their package of equipment includes more than 230 items such as motor scrapers, crawler tractors, hydraulic excavators, wheel loaders, motor graders, pickup and flatbed trucks and truck tractors.

Ritchie Bros. Auctioneers will also be conducting complete dispersals for H E & H Developments Ltd., after 50 years of business, Big A Services Inc. and Treval Enterprises during the Grande Prairie auction.

"This auction features a great selection of equipment from more than 300 owners for people of every industry," said Brian Podruzny, Regional Manager, Ritchie Bros. Auctioneers. "We encourage anyone interested in this equipment to register to bid because every single item will sell on auction day to the highest bidders - regardless of price."

The unreserved auction features 2,700+ equipment items, which will be sold over two days. Day One (June 24) features construction equipment, including 50+ crawler tractors, 45+ hydraulic excavators, 25+ wheel loaders and 10+ motor graders. Day Two (June 25) will feature transportation and agricultural equipment, including 100+ trailers, 40+ truck tractors, 35+ boom trucks and 30+ recreational vehicles.

Six residential lots, located at Creeks Crossing development 30 minutes from Grande Prairie, and 10 parcels of farmland and one grazing lease located in Clearhills County will also be sold on Day Two of the auction.

    
    Auction details:
    ----------------
    -   Location: Ritchie Bros. Auctioneers' permanent Grande Prairie auction
        site, Range Road 51, Grande Prairie, AB T8V 7C6
    -   Auction site phone: + 1.780.538.1100
    -   Time and date: Thursday, June 24, 2010 to Friday, June 25, 2010
        starting at 8:00 a.m. each day
    -   The auction is open to the public and registration to bid is free.
        First-time registered bidders are required to place a CAD$1,000
        refundable deposit when they register
    -   Customers can inspect, test, and compare items in the auction yard
        during regular business hours
    -   Interested buyers can bid in person at the Grande Prairie auction
        site, online in real time at www.rbauction.com or by proxy by
        contacting the Grande Prairie auction site at + 1.780.538.1100
    -   More information about the auction, including full equipment details
        and photos, is available at www.rbauction.com
    

About Ritchie Bros.

Established in 1958, Ritchie Bros. Auctioneers (NYSE andTSX: 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 41 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.

ATTENTION MEDIA: Photos and other media resources are available for use at http://www.rbauction.com/media. Members of the public and the media can follow Ritchie Bros. on Twitter @RitchieBros

For further information: Kim Schulz, Manager, Corporate Communications, Ritchie Bros. Auctioneers, Phone: [phone] or email [email protected]; Or Brian Podruzny, Area Manager, Ritchie Bros. Auctioneers, Grande Prairie auction site, tel: + 1.780.538.1100