WASHINGTON–(BUSINESS WIRE)–July 5, 2006–Liquidity Services,
Inc. (NASDAQ:LQDT), a leading online auction marketplace for
wholesale, surplus and salvage assets, announced today that it remains
on the Russell 2000 Index and Russell 3000 Index after the 2006
Russell Index Reconstitution effective as of June 30, 2006. Liquidity
Services, Inc. (LSI) has been a Russell Top 10 Performer since it
joined the indexes on March 31, 2006.
The Russell indexes capture the 3,000 largest U.S. stocks, ranking
them by total market capitalization to create the Russell 3000. The
largest 1,000 companies in the ranking comprise the Russell 1000 while
the remaining 2,000 companies become the widely used Russell 2000.
Membership in Russell’s U.S. equity indexes, which remains in place
for one year, is determined primarily by market capitalization
“We are pleased to be recognized as a top performer in the Russell
2000 and Russell 3000 indexes since the completion of our Initial
Public Offering in February 2006,” said Bill Angrick, Chairman and CEO
of LSI. “This recognition highlights the continued success of our
business in creating highly liquid and scalable online marketplaces to
remarket and sell surplus assets and wholesale goods on behalf of
large corporations and government agencies.”
LSI’s solution is comprised of online auction marketplaces and
value-added services that are designed to provide large organizations
with a comprehensive solution to quickly bring surplus assets to
market and enhance the financial value realized from the sale of the
items. LSI’s marketplaces, www.Liquidation.com, www.Govliquidation.com
and www.UKsurplus.com, provide buyers convenient access to a
substantial and continuous flow of wholesale, surplus and salvage
assets in over 500 categories and lot sizes ranging from full truck
loads to pallets, packages and large individual items. LSI also
operates a wholesale industry portal, www.goWholesale.com, which
connects advertisers with buyers seeking products for resale and
related business services.
About Liquidity Services, Inc. (LQDT)
Liquidity Services, Inc. (NASDAQ:LQDT) and its subsidiaries enable
corporations and government agencies to market and sell surplus assets
and wholesale goods quickly and conveniently using online auction
marketplaces and value-added services. The company is based in
Washington, D.C. and has 350 employees. Additional information can be
found at: www.liquidityservicesinc.com.
Russell Investment Group, a global leader in multi-manager
investing, provides investment products and services in more than 44
countries. Russell manages more than $155 billion in assets for
advisory clients as of December 31, 2005, and provides other financial
services to clients worldwide representing more than $2.4 trillion. In
2006, and for the fifth time since 1999, Russell is ranked among the
Fortune Magazine’s 100 Best Companies to Work For in America.
CONTACT: Liquidity Services, Inc.
Julie Davis, 202-467-6868 ext 234
SOURCE: Liquidity Services, Inc.