Ableauctions Sets Record with Almost $1 Million in Online Internet Sales in a Single Auction

Business Wire, Dec 9, 2004

FIFE, Wash. -- Ableauctions.com Inc. (AMEX:AAC) (the "Company") announced today that its December 2, 2004 JM Wood industrial auction set a record for the Company's NAALive.com platform, realizing over $900,000 in Internet sales alone. The total sales for the two day auction were approximately $15 million.

The Internet participation during this auction is a strong reflection of the confidence bidders and sellers have in the recently enhanced NAALive platform. The Company continues to develop the platform, delivering enhancement to its online auction technology regularly.

J.D. Gray of JM Wood Auction Co., stated "The NAALive auction technology and on-site support is a valuable asset to our operation. We continue to see online sales increase with each event we broadcast with NAALive. Live Internet auctions have definitely expanded our audience."

Founded in 1948, the NAA represents approximately 7,000 auctioneers worldwide with members in every single state in the United States and covering the multi-billion dollar real estate, automotive, fine art, cattle, equipment and manufacturing segments. On March 29, 2004, the Company entered into an agreement with the National Auctioneers Association (NAA) to serve as its exclusive online auction-broadcasting contractor.

About NAALive

NAALive is a joint venture between Ableauctions and the National Auctioneers Association to provide online auction broadcast technology to its 6000+ members. Utilizing NAALive's real-time software, auction houses can broadcast their auctions live over the Internet allowing online bidders to participate as if they were physically present at the auction. NAALive also enables bidders to review auction catalogues and place absentee bids prior to an event. NAALive is rapidly becoming the standard for live Internet auctions and the premiere website for consumer access to the auction industry.

This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company's financial position and the Company's business strategy. These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the performance of our on-line auction business, our ability to implement our inventory procurement strategy, general economic conditions, our ability to license our software to other auction houses, our ability to acquire profitable companies and integrate them into our business successfully and other factors that are detailed in our Annual Report on Form 10-KSB and on documents we file from time-to-time with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results may differ materially from the Company's expectations and estimates. The Company does not realize nor book the full revenue of auctions that it facilitates in its financials, only the net auction fees, that can vary from time-to-time, that it realizes.