DUBAI, United Arab Emirates--(BUSINESS WIRE)--June 21, 2006--WWA Group Inc. (OTCBB: WWAG), one of the world's largest auctioneers of transportation and industrial equipment, announced today that the successful conclusion of another auction held at WWA Group's Dubai facility between June 17 and June 19, 2006.
The Dubai auction's gross sales exceeded $17.7 million and involved more than 360 registered bidders from 30 countries. The auction drew 159 consignors from 20 countries and sold more than 1,250 items to 192 successful bidders. WWA Group also generated a record number of online sales through the WWA BIDLive bidding system that enables online participants to place bids on equipment offered at auction.
"We are pleased with the quality of equipment at this auction, and the price strength across all categories of equipment is consistent with our strong performance in the Dubai market," commented Eric Montandon, chief executive officer of WWA Group. "We are looking forward to our auction next week in Doha, Qatar, where we have a quality line-up of items for auction and keen interest from potential buyers."
This was the 37th auction held by WWA Group's wholly owned subsidiary in Dubai since March of 2001, and is the third of six physical auctions planned for Dubai in 2006. Additionally, WWA Group has completed 10 of a total of 20 physical equipment auctions planned for the United Arab Emirates, Australia, Holland, Indonesia and Qatar during 2006.
Actual sale prices for all items sold at all auctions are published for members at www.ironauctions.com. Member registration to the site is free by clicking on "Auction Results." Lists of equipment for sale at upcoming WWA Group auctions are updated daily on the site. Anyone interested in consigning equipment to the auctions, or registering to bid, can e-mail info@ironauctions.com or call 011-971-4-881-6142.
About WWA Group
WWA Group Inc., through its wholly owned subsidiary World Wide Auctioneers Ltd. (WAA), is one of the world's largest auctioneers of transportation and industrial equipment. WWA Group's operations are focused on high-growth, underserved regions outside of North America that are transforming into luxury tourism and international economic centers. Since its inception in 2001, WWA has auctioned over $380 million worth of vehicles and equipment from its Dubai facilities. WWA also manages unreserved auctions in the Netherlands; Indonesia; China; and Australia through its joint venture partners. More than $200 million has been auctioned at these associated franchise facilities since WWA's inception. WWA is further distinguished as the largest seller of second hand construction equipment in the Arab Gulf Cooperation Council (GCC) countries -- Saudi Arabia, Kuwait, the U.A.E., Qatar, Bahrain and Oman. Auctions are conducted on location and through the WWA BIDLive online bidding system.
For further investor information, please contact Eric Montandon at 011-971-4-881-6142 or access WWA Group's Web site at www.wwagroup.com. For recent news and quotes, visit Yahoo! Finance at http://finance.yahoo.com/q?s=wwag.ob.
A number of statements contained in this press release may be considered to be forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including market acceptance of services provided, competitive market conditions, governmental regulation, and auction results. The actual results WWA Group may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. WWA Group encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-KSB and Form 10-QSB. WWA Group's public filings may be viewed at www.sec.gov.
