World's largest industrial auctioneer coming to Iroquois Falls for forestry auction

This Thursday, November 5, 2009, Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, will conduct an unreserved public auction for AbitibiBowater and other owners in Iroquois Falls, Ontario. The auction features a complete dispersal for AbitibiBowater's Iroquois Falls Woodlands, including mobile construction and forestry equipment, a large quantity of shop accessories, tools and support equipment, and a 21,000+/- square foot warehouse/garage. Interested buyers can bid in person, online in real time at www.rbauction.com or by proxy. More than 470 items will be sold on auction day, with no minimum bids or reserve prices.

"We've got permanent auction sites all over the world, including one in Toronto and another in London, but sometimes it makes more sense to bring the auction to our customers," said Brian Dykstra, Ritchie Bros. Regional Manager. "We're looking forward to selling a great selection of well-maintained, used equipment at our first Iroquois Falls auction - as well as a large shop building and mobile trailers. The auction will be open to the public and unreserved, which means every item will be sold to the highest bidder on Thursday - regardless of price."

For more than 90 years, Iroquois Falls Woodlands has sourced, maintained and operated equipment to transport forested wood to the Iroquois Falls paper mill - work that will now be done by contractors.

"We considered conducting the auction ourselves, but when we found out that Ritchie Bros. could come to Iroquois Falls and sell everything in one day - including the shop and the mobile equipment - we knew that was our best option: they've got the expertise and market reach, and a good reputation in the industry," said Jennifer Tallman, Continuous Improvement and Operations Manager, AbitibiBowater.

Among the equipment being sold on auction day: wheel loaders, crawler tractors, skidders, log trailers and forklifts.

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    Auction details

    -  Location: Stimson Depot Garage, Northwest Industrial Road,
       Iroquois Falls, Ontario
    -  Auction site phone: +1.705.258.3412
    -  Time and date: Thursday, November 5, 2009 starting at 8:00 a.m.
    -  Auction is open to the public; registration to bid is free
    -  How to bid:

       1. In person at the auction site - registration begins at the site
          several days before the auction. Photo I.D. is required.
       2. Online in real time - register online at www.rbauction.com, at
          least 2 - 3 days before the auction for first-time internet
          bidders.
       3. By proxy - phone the auction site to place a proxy bid:
          +1.705.258.3412.

    -  Equipment details, including photos, are available on the
       Ritchie Bros. web site: www.rbauction.com
    >>

Note: Ritchie Bros. Auctioneers is not affiliated with nor related to art auction house Ritchies Auctioneers of Toronto.

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 39 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.

SOURCE: Ritchie Bros. Auctioneers

Brian Dykstra, Regional Manager, Ritchie Bros. Auctioneers, Auction site phone: (705)
258-3412 Or Kim Schulz, Manager, Corporate Communications, Ritchie Bros. Auctioneers,
Phone: (778) 331-5442 or email: kschulz@rbauction.com

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