BURNABY, B.C., April 4, 2000 - Ableauctions.com^TM, Inc. (OTC BB: ABLC) (the "Company") announced that it has acquired Mesler's Auction House of Scottsdale, Arizona. Mesler's Auction House is an auctioneer of antiques and other furniture and equipment.

The purchase price of the Mesler's assets, including material contracts, goodwill, other intangible assets, and equipment was US$500,000, which was paid US$255,000 in cash and the balance of US$245,000 by issuance of 30,625 shares of Ableauctions.com's common stock at a deemed price of US$8.00 per share and a non-transferable warrant entitling Mesler's to purchase 150,000 shares of Ableauctions.com's common stock at the price of US$8.00 until March 20, 2001.

In a related transaction, Ableauctions.com also acquired real estate and a 50,000 square foot high-tech auction facility located in Scottsdale, Arizona from C&C Capital Investment, Inc., an affiliate of Mesler's. The building houses the auction business operated by Mesler's Auction House. The purchase price for the entire property was $3,500,000, payable as US$1,200,000 in cash; US$1,056,110.53 by the assumption of a promissory note, and the balance of US$1,243,889.47 by Ableauctions.com issuing to C&C 155,486 shares of its common stock at the deemed price of US$8.00 per share.

On closing, Ableauctions.com entered into a management consulting agreement with Arizona Realty Consultants, LCC, whereby Arizona Realty will manage the Scottsdale auction business, including hiring all required employees and consultants, in consideration of reimbursement of its expenses, including employee payroll. The agreement will allow a smooth transition of management.

Abdul Ladha, President and Chief Executive Officer of Ableauctions.com stated, "Mesler's Auction House is our most significant acquisition to date. It provides Ableauctions.com exceptional antique furniture, a flagship 50,000 sq ft. high-tech auction facility that will serve as centre of operations for the West Coast, and an operating facility capable of generating $500,000 per auction, almost three times the average sale."

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.