Live Auctions Australia Signs 3 Year Contract to Broadcast Online Auctions Exclusively Through Ableauctions NAALive Platform

Business Wire, Nov 22, 2004

FIFE, Wash. -- Ableauctions.com Inc. (AMEX:AAC) (the "Company") announced today that it is has entered into an agreement with Australia based Live Auctions Australia to broadcast their auctions over the Internet exclusively for a period of three years through NAALive.com.

Live Auction Australia, an initiative backed by 25-year auction veteran Philip Black ("Blacky") specializes in the relocation of plant, people and livestock. Branded as the "$16 million man" in recognition of his property sales, Black sold one of the largest properties in Queensland this year for $8.5 million within one week of listing it. Australia's Courier-Mail newspaper states that "Blacky is fast becoming one of the best known auctioneers in the country."

This agreement, coupled with recent enhancements of the Company's auction broadcasting technology, provides NAALive with significant international exposure and paves the way for global adoption of its online auction technology.

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.