GoIndustry-DoveBid plc / Index: AIM / Epic: GOI / Sector: Support Services

26th August 2008

GoIndustry-DoveBid plc ('GoIndustry-DoveBid' or the 'Company')

Market Announcement

GoIndustry-DoveBid plc, the AIM quoted industrial machinery and equipment auctioneer, provides the following guidance to the market:

Pursuant to a review of the Company's performance in the first half and the expectations for the second half, the Company's profit before tax for the year to 31 December 2008 will fall short of current market expectations. However, the Board is pleased with the progress that has been made on the integration, following the acquisition of DoveBid, Inc. on 25 February 2008. The shortfall in profits can principally be attributed to demands placed on the business by the transaction and a slower than expected improvement in the sales momentum of the combined entity.

The Company is in the process of implementing a series of strategic initiatives, which are designed to fuel growth and improve operational efficiency. The Board believes that these actions will position the Company for long term profitable growth. The Board expects to report a substantial increase in profitability in 2008 compared to 2007 on the back of a strong second half performance, and is confident of a further significant increase in 2009.

The Company intends to provide more information with its interim results, which are planned for release on 16 September 2008.

* * ENDS * *

For further information, visit www.goindustry.com or contact:

John Allbrook         GoIndustry-DoveBid plc              Tel: 020 7098 3700

Andrew Edwards    Oriel Securities Limited                Tel: 020 7710 7600

/ Gareth Price          (Nomad and Broker)

Victoria Thomas     St Brides Media & Finance Ltd    Tel: 020 7236 1177

Notes to editors

GoIndustry-DoveBid plc, quoted on the London Stock Exchange's AIM market (Epic: GOI), is a global market leader in the valuation and sale of surplus industrial machinery and equipment. The Company combines traditional asset sales experience with innovative eCommerce technology and advanced direct marketing to service the needs of multi-national corporations, insolvency practitioners, dealers and asset based lenders around the world. 

• News Channel