Houston, Texas, May 21, 2002 VenueBid, a Houston, Texas-based auction company, announced that it has joined national auction powerhouse Tranzon, L.L.C., in a move to accelerate its growth throughout the U.S. With the addition of Tranzon VenueBid, Tranzon now has ten member companies from Maine to California.

Owned by Dwight and Kelly Toney, VenueBid operates primarily in Texas and Louisiana specializing in marketing commercial and industrial assets using the auction marketing method. Both Dwight and Kelly have significant experience in the oil & gas industry. Utilizing this experience, VenueBid has sold millions of dollars of oil and gas industry assets. VenueBid has also expanded beyond the oil & gas industry and conducts auctions for manufacturers, retailers and lenders. VenueBid's Tranzon membership allows it to provide its services throughout Tranzon's nationwide auction network.

Some notable sales for Tranzon VenueBid include the sale of a jack-up barge for Lampson International for $3.6 million, sale of oilfield equipment for multiple sellers in a recent auction for $1.4 million, sale of electronic equipment for lender Transamerica, sales and equipment appraisals for nationwide lender Zions First National Bank, sales for John Deere Credit Company and a sale of sporting goods equipment from Sportslab, Inc. as part of a bankruptcy sale. Tranzon VenueBid is an industry leader in providing on-line as well as on-site auctions and is a strategic partner of on-line auction software and services firm, Bidpath, Inc. Tranzon VenueBid's next major oilfield equipment auction is scheduled for late July.

In connection with the announcement of VenueBid joining Tranzon, Dwight Toney has been named a Regional President of Tranzon and Kelly Toney has been named Vice President. Explaining why VenueBid joined Tranzon, Dwight Toney explains, "Tranzon combines some of the most successful and highly respected auction companies and professionals in the country. We expect our membership in Tranzon to enhance the level of service we can provide our existing clients and allow us to expand our services to new clients nationwide."

Dwight Toney has a Bachelor of Business Administration degree in Marketing from Texas A&M University. Dwight served as a helicopter pilot in Vietnam. Kelly received a Bachelor of Science degree from Texas A&M and also holds the Certified Auctioneers Institute designation. Kelly serves on the Texas Auctioneer Association Board of Directors and was the First Runner Up in the 2001 State Auction Champion competition. Kelly and Dwight are both licensed auctioneers.

Companies join Tranzon by invitation only, and are selected based on stringent criteria focusing on service excellence, reputation and expertise. The Tranzon companies specialize in providing real estate and commercial and industrial asset auction services to corporations, institutions, trustees, individuals and estates throughout the US. Learn more about Tranzon at www.tranzon.com.

For more information, contact:
Dwight or Kelly Toney, Phone (713) 984-7670