Press Releases
May 23

William Angrick, Chairman and CEO of LSI Named Finalist for Ernst & Young Entrepreneur of the Year 2005 Award


Washington, D.C. (June 21, 2005) — William Angrick of Liquidity Services, Inc. was named a finalist by professional services firm Ernst & Young LLP for the Ernst & Young Entrepreneur Of The Year 2005 Awards in the Greater Washington Area. Mr. Angrick was selected from sixty-three nominations in the Greater Washington Area by a panel of independent judges comprised of area business leaders. Award recipients will be announced at the awards banquet on June 23, 2005 at The Ritz-Carlton, Tysons Corner, in McLean, Virginia.

“I am honored that myself and Liquidity Services, Inc. have been selected by Ernst & Young as a finalist for this prestigious award,” said Mr. Angrick. “In five years, LSI has risen as a global leader in our industry because of the dedication, talent and teamwork of our management team and staff. As we continue to grow at a rapid pace, our people and the quality of our client service will remain the cornerstone of LSI’s success.”

Mr. Angrick has been responsible for leading LSI’s strategy and ongoing development since inception, including expanding the Company from initial start-up to profitability with over $76 million of annual sales. LSI has recently received numerous awards including Entrepreneur’s 2005 Hot 100 (#4), Washington Business Journal 100 Largest Private Companies, and Government Solutions Center Pioneer Award 2005.

The Greater Washington Area winners will be eligible for consideration for the Entrepreneur Of The Year 2005 national program. Winners in several national categories, as well as the overall national Ernst & Young Entrepreneur Of The Year, will be announced at the annual awards gala in Palm Springs, Calif. in November 2005.

About Ernst & Young Entrepreneur Of The Year Program
The Ernst & Young Entrepreneur Of The Year Program was created and is produced by professional services firm Ernst & Young LLP. As the first award of its kind, Ernst & Young Entrepreneur Of The Year recognizes outstanding entrepreneurs who are building and leading dynamic and growing businesses. The program honors entrepreneurs through regional, national and global award programs in over 100 cities and 35 countries.

About Ernst & Young
Ernst & Young, a global leader in professional services, is committed to restoring the public’s trust in professional services firms and in the quality of financial reporting. Its 100,000 people in more than 140 countries around the globe pursue the highest levels of integrity, quality, and professionalism to provide clients with solutions based on financial, transactional, and risk-management knowledge in Ernst & Young’s core services of Audit, Tax, and Transaction Advisory Services. Ernst & Young practices also provide legal services in some parts of the world where permitted. Further information about Ernst & Young and its approach to a variety of business issues can be found at www.ey.com/perspectives. Ernst & Young refers to all the members of the global Ernst & Young organization.