Press Releases
May 23

Liquidity Services, Inc. Strengthens Executive Management Team for its Asset Recovery Division


Washington, D.C. (February 14, 2005) — Liquidity Services, Inc. (LSI), a leading provider of comprehensive asset recovery services for businesses and the public sector is pleased to announce the appointments of Michael Livatino as Senior Director responsible for the company’s Financial Institutions and Public Sector practice, and Brian Johnson as Vice President of Operations to manage overall operations. This management team expansion coincides with a 68% growth for the Asset Recovery Division in fiscal year 2004.

“We had an exciting year in 2004 and saw continued growth in the number of sellers and buyers embracing our service offering and our online marketplace, Liquidation.com,” said William P. Angrick, Chairman and CEO of LSI. “Michael and Brian bring to LSI a proven track record of operational excellence and a passion for our business. As we continue to expand our range of services to existing customers and new markets, such as the financial services industry, we remain dedicated in our commitment to providing top notch customer service and logistics support to our buyers and sellers.”

To support service offerings for new markets, Michael Livatino is responsible for the management and direction of financial institutions and public sector programs, including the recent EPA Recycling Electronics and Asset Disposition (READ) program award.

Mr. Livatino brings to LSI over 18 years of asset sales, appraisal, recovery and remarketing experience serving Fortune 500 companies and financial institutions. Prior to joining LSI, Mr. Livatino was President of Asset Control, LLC, the asset recovery subsidiary of Textron Financial Corporation, a unit of Textron, Inc., and held senior positions with Foothill Capital, a subsidiary of Wells Fargo, and Mellon Bank.

As Vice President of Operations for LSI’s Asset Recovery Division, Brian Johnson is responsible for shipping, logistics and buyer relations. In this role Mr. Johnson will oversee and strengthen LSI’s operations in the areas of inventory management, warehousing, transportation, and customer service in support of the company’s growing client base.

Mr. Johnson brings to LSI over 15 years of logistics, operations and customer service experience. Prior to joining LSI, Mr. Johnson served as Vice President of Operations and Director of Distribution for Corporate Express, Inc, He holds a BA in Mathematics from Wofford College and is a certified Six Sigma Greenbelt.

About Liquidity Services, Inc.
Liquidity Services, Inc. and its subsidiaries enable government agencies, businesses and financial institutions to market and sell surplus assets and wholesale goods quickly and conveniently using innovative online marketplaces, business-to-business product sales and marketing expertise, and value-added logistics and fulfillment services. The privately held company is based in Washington, D.C. and employs 275 people. Additional information can be found at: www.liquidityservicesinc.com.