BURNABY, B.C., March 10, 2000 - Ableauctions.com^TM, Inc. (OTC BB: ABLC) (the "Company") announced today that it has purchased Seattle based Falcon Trading Inc.

Though its Washington based subsidiary, Ableauctions.com acquired all of the business assets of Falcon Trading, Inc., as a going concern. Falcon Trading is a Seattle based computer and electronics liquidator. The business assets included material contracts, goodwill and other intangible assets, equipment, and inventory. The purchase price of the Falcon Trading assets was US$360,805, which was paid by the issuance to Falcon Trading of 53,405 shares of Ableauctions.com's common stock at a deemed price of US$6.756 per share. On closing, Ableauctions.com (Washington) entered into a five-year employment agreement with Harlan Moore, Falcon Trading's founder and sole shareholder. Ableauctions.com granted to Mr. Moore stock options to purchase an aggregate 105,000 shares of common stock for five years, with 75,000 of the options exercisable at US$6.756 per share and the remaining 30,000 options exercisable at US$8.00 per share, subject to vesting criteria. Mr. Moore was appointed Vice-President, Operations of Washington State, on January 25, 2000.

Abdul Ladha, President and Chief Executive Officer of Ableauctions.com stated, "We currently auction a broad range of computers, electronics, office equipment, furniture and industrial equipment that is acquired through bankruptcies, insolvencies and defaults. The most popular items sold on Internet auctions, by far, are the computer and electronic components. The acquisition of Falcon Trading enables Ableauctions.com to acquire the computer and electronic inventories in significantly larger quantities without compromising gross profit margins. Historically, Falcon's growth has been restricted only by lack of working capital. The all stock acquisition, marking the perfect scenario in Ableauctions.com's acquisition strategy, enables the Company to inject maximum working capital into its subsidiaries."

About Ableauctions.com

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, insolvencies and defaults. The Company's Internet Auction web site can be located at www.ableauctions.com.