Burnaby, BC: January 12, 2000, Ableauctions.comTM Inc. (OTC BB - ABLC) (the "Company) announced today that its registration statement on Form 10-SB cleared comments today with the United States Securities and Exchange Commission ("SEC"). The SEC has granted Ableauctions.com's request for early effectiveness of the Form 10-SB. As a result, the Company is now a reporting issuer under the U.S. Securities and Exchange Act of 1934, as amended.

The Company has satisfied the eligibility requirements to maintain its trading status on the NASD Over-the-Counter Bulleting Board (trading symbol ABLC).

Abdul Ladha, President and CEO of Ableauctions.com stated, "As a result of the Company's designation as a reporting issuer, shareholders and the public will be provided with continous, accurate and timely information about the Company. It also permits Ableauctions.com to consider its eligibility for listing on more senior exchanges. "

Ableauctions.com is a high tech business-to-business auctioneer that conducts its auctions live and simultaneously broadcasts them over the Internet. The Company liquidates a broad range of computers, electronics, office equipment, furniture and industrial equipment that it acquires through bankruptcies, insolvency's and defaults. The Company's Internet Auction web site can be located at www.ableauctions.com.