EquipNet Acquires Advanced Asset Sales Services, Inc.

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Further increases its position in the biotech industry while strengthening its auction capabilities.

It nicely solidifies our ability to provide clients with even more options in our cascading multi-channel disposition approach for our clients idle and surplus assets.

EquipNet, Inc., the leading provider of proactive asset management solutions, today announced that it has acquired Woburn, Massachusetts-based Advanced Asset Services, Inc.a leader in laboratory asset disposition.

Over the last 10 years, Advanced Asset Services has successfully managed more than 1 billion dollars in pre-owned equipment sales for global organizations such as Bayer, BASF, Raytheon, Lam Research, and Quest Diagnostics.

"We're extremely excited about this acquisition," said Roger Gallo, president and CEO of EquipNet. "It nicely solidifies our ability to provide clients with even more options in our cascading multi-channel disposition approach for our clients idle and surplus assets."

"We're thrilled to be joining forces with EquipNet," said Dennis Higgins, co-principal of Advanced Asset, Services who will now lead EquipNet's efforts in its Biotech vertical. "By joining forces with EquipNet, we've instantly created a dominant force in the biotech industry for asset management."

The acquisition also greatly expands EquipNet's online and live auction capabilities. Both Higgins and Tom Noonan, the founder of Advanced Asset Services are licensed auctioneers and bring over 30 years of industrial auction experience to the new venture.

"It's a great step forward for our two companies and for the entire pre-owned equipment industry," explained Noonan, who joins EquipNet to oversee EquipNet's worldwide auction efforts. "We look forward to significantly increasing our market share of online and traditional industrial auctions."

EquipNet has relocated all of Advanced Asset Services' employees into its world headquarters in nearby Canton, Mass. EquipNet is conducting the next biotech online auction on November 13, 2007 and will be featuring assets from GPC Biotech in Waltham, MA.

About EquipNet, Inc.
EquipNet is a leading provider of proactive asset management solutions and services to leading corporations such as Colgate-Palmolive, Eastman Chemical, GlaxoSmithKline, and Unilever. Its vision is to revolutionize the way companies manage their surplus assets. EquipNet has earned a reputation for helping clients maximize their financial return; avoid the risks associated with health, safety and environmental hazards, and shrinkage, and to be in compliance with Sarbanes-Oxley. For more information, please visit http://www.EquipNet.com.

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Prashant Kaw
EquipNet
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