Press Releases
Mar 08

Clarification Statement Issued from CBS Evening News Regarding Liquidity Services, Inc.’s Involvement in the Sale of Pentagon Goods

WASHINGTON–(BUSINESS WIRE)–Aug. 7, 2006–Liquidity Services,
Inc. (LSI), a leading online auction marketplace for wholesale,
surplus and salvage assets, announced today that CBS Evening News has
issued a clarification statement regarding CBS’s July 28 report,
“‘Sensitive’ Pentagon Goods for Sale.” The statement, found at, clarifies
portions of the report as follows:

“…But our report may also have created the impression that
Liquidity Services Inc. (LSI), a company used by the Defense
Department for some equipment resales, was responsible for failing to
detect that the GAO investigators’ identifications were fake. We
should have made clear that the warehouses tested by the GAO were not
operated by LSI, that LSI had no involvement with the sale of the
missile launcher mount or the digital signal converters referenced in
the news report (equipment obtained from Defense Department personnel
by GAO investigators posing as Defense Department contractors), and
that, in any event, responsibility for screening property released for
resale rests with the Defense Department.”

“We appreciate the cooperation and efforts made by CBS Evening
News to clarify the report,” said Bill Angrick, CEO of LSI.

The statement can also be found at
main1826724.shtml (Due to its length, this URL may need to be
copied/pasted into your Internet browser’s address field. Remove the
extra space if one exists.) and at CBS News Investigates

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:

CONTACT: Liquidity Services, Inc. (LSI), Washington, D.C.
Julie Davis, 202-558-6234
[email protected]

SOURCE: Liquidity Services, Inc. (LSI)