SCOTTSDALE, ARIZONA - April 4, 2002 - Ableauctions.comTM, Inc. (AMEX:AAC) (the "Company") announced today that it's wholly owned subsidiary iCollector International has formed an exclusive strategic alliance with aXio (www.axioart.com), a leading provider of online auction services in Eastern Europe. aXio will act as a qualified and experienced reseller for icollector.com catalog listing and absentee bidding services in the growing Eastern European market in countries including Hungary, the Czech Republic and Slovakia.

Formed in 1999, aXio is the leading provider of online auction services and in May 2001 signed an exclusive deal with [origo], the most popular online portal in Hungary with over 2million page impressions per day to become their exclusive partner for online auctions. In April 2001 aXio introduced a real-time bidding facility and has successfully broadcast over 40 auctions online from CEE countries since then.

Mark Hill, Director of Auction House Services and the relationship with eBay Live Auctions stated, "We are extremely excited forming this alliance with such a key player in this area. Eastern Europe's auction market has been steadily growing in stature and we are pleased to be able to offer a new, wider variety of catalogs to our user base as well as offering, through axioart.com, auction houses the chance to grow their business through global online participation."

As shown through its ever increasing relationships with major auction houses around the world, the Company is committed to offer a full complement of Internet broadcast services to its valued customers. The Company is determined to demonstrate to its shareholders the viability of its economic model through increasing revenue and profitability.