BURNABY, B.C., April 7, 2000 - Ableauctions.com^TM, Inc. (OTC BB: ABLC) (the "Company") announced today that its first auction in its newly acquired 56,000 sq ft high tech auction house (formerly known as Mesler's) in Scottsdale, Arizona, generated record revenues.

The antique auction held March 26, 2000, generated approximately US$500,000 in revenue, more than double the average auction. Gross profits from the sale were $139,224 (32%), consistent with management's expectations. The newly acquired facility is still being retrofitted to handle live video broadcasts and will serve as the Ableauctions.com flagship auction site for the company's roll out strategy in the United States.

In light of this auction taking place during the acquisition period, profits from the first auction were shared equally between the previous owners of Mesler's and Ableauctions.com.

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.