BURNABY, B.C., March 13, 2000 - Ableauctions.com^TM, Inc. (OTC BB: ABLC) (the "Company") announced today that it has signed a binding letter of intent dated March 1, 2000 to purchase Mesler's Auction House of Scottsdale, Arizona. Mesler's is an Arizona-based auction house that auctions antiques and other furniture and equipment.

Under the letter of intent, Ableauctions has agreed to purchase Mesler's assets for $500,000, payable $255,000 in cash and by issuing 30,625 shares of Ableauctions common stock.

Ableauctions has also agreed to purchase real estate and a building from Mesler's for $3,500,000, payable $1,200,000 in cash, $1,050,000 by assuming a mortgage on the property, and by issuing shares of Ableauctions common stock for the balance at a deemed price of $8.00 per share. Ableauctions will purchase the inventory of Mesler's for $450,000 in cash.

The acquisition is subject to, among other things, satisfactory due diligence by Ableauctions.com, including obtaining an independent appraisal of the property, and signing of formal agreements among the parties.

On closing, Ableauctions.com will also grant to Mesler's an option to purchase 150,000 shares of common stock at the price of $8.00 per share for a term to be determined by Ableauctions.com's Board of Directors. Closing is anticipated to take place on April 30, 2000.

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.