FIFE, WASHINGTON - March 30, 2004 - Ableauctions.com Inc. (AMEX:AAC) (the "Company") announced today the results of operations for the year ended December 31, 2003.

The Company's reported net annual revenues of $778,102 with income of $259,126 before depreciation and amortization of capital assets for the year ended December 31, 2003, compared to revenues of $802,735 and a loss of $1,126,702 for the corresponding period in the prior year. The Company's assets increased to $5,437,919 at December 31, 2003 compared to $1,607,393 at December 31, 2002 and the Company's liabilities decreased to $237, 268 compared to $884,221 in the prior year. Shareholder's equity, defined as the carrying amount of the Company's assets minus its liabilities, increased to $5,200,651 at December 31, 2003 compared to $723,172 at December 31, 2002.

The Company's revenues are derived primarily from Auction Broadcast Services, the broadcast of live auctions over the Internet using the Company's technology or eBay's Live Auctions technology, POS and Hardware Services, the sale, installation and support of Point-Of-Sale (POS) software and custom hardware and network configurations, and Liquidation Services, the sale of merchandise through stores and auctions, and from the fees realized from inventory brokerage services through our iTrustee operations.

In 2003, Auction Broadcast Services accounted for approximately 38% of the Company's total revenue and approximately 51% of gross profit. POS and Hardware Services accounted for approximately 30% of the Company's total revenue and approximately 19% of gross profit. Liquidation Services accounted for approximately 32% of the Company's total revenue and approximately 30% of gross profit.

Gross profit for 2003 was $442,939 or 56.9% of total revenue for the year ended December 31, 2003 as compared to $507,826 or 63.2% of total revenue for the year ended December 31, 2002. Over time, the Company expects gross profit as a percentage of revenue will decrease to a range between 25% and 30%, based on the anticipated returns from its revenue streams.

Operating expenses totaled $942,566 for the year ended December 31, 2003 as compared to $1,690,110 for the year ended December 31, 2002. Operating expenses for the 2003 year were lower than the previous year as a result of decreases in accounting and legal fees, interest, salaries and benefits, and website maintenance expenses.

The Company had a net income of $144,516 or $0.004 per share for the year ended December 31, 2003 as compared to a net loss of $1,316,637 or $0.049 per share for the year ended December 31, 2002.

About Ableauctions.com

About iCollector.com

iCollector.com is a wholly owned subsidiary of Ableauctions and is the independent connection to the world's auction houses. Founded in 1994, it was the first company dedicated to trading antiques, fine art and premium collectibles on the Internet. Today iCollector.com represents some of the world's leading auction houses. Since January 2001, its alliance with eBay Live Auctions has resulted in hundreds of Live Auctions being broadcast in real-time, directly to the salesroom as the auction happens, selling tens of thousands of lots to many thousands of users online. With its unparalleled understanding and expertise in this sector, iCollector can help you to maximize your opportunities to find, buy or sell art, antiques and collectibles online.