FIFE, Wash.--Feb. 9, 2005--Ableauctions.com Inc. (AMEX:AAC) (the "Company") announced today that a jury in the Supreme Court of the State of New York, County of New York, found in favor of the Company and iCollector.com Technologies Ltd. (iCollector) in the suit brought against Liveauctioneers LLC, and its CEO and Founder, Julian Ellison.

The jury found that Ellison breached the fiduciary duties owed to iCollector during the time which he performed services for iCollector and found that Liveauctioneers LLC, Ellison, and John Ralston engaged in unfair competition.

The jury returned a verdict awarding the Company and iCollector $417,300 in damages.

Abdul Ladha, CEO of Ableauctions, commented, "We're extremely pleased with the jury's decision. We believe that it was a justified finding and now look forward to focusing our energy in building and developing our core businesses."

Representing the Company and iCollector was Kenneth J. Rubinstein of Olshan Grundman Frome Rosenzweig & Wolosky.