BRITISH COLUMBIA - April 17, 2002- Ableauctions.com, Inc. (AMEX:AAC) (the "Company") announces that the filing its annual report on Form 10-KSB for the year ending December 31, 2001 has been delayed due to a change in accountants of iCollector, PLC ("iCollector"), a wholly-owned subsidiary and United Kingdom company that the Company acquired in September 2001 after completion of a recommended offer in the U.K. iCollector is currently being liquidated and dissolved. As a result of the change in accountants and the dissolution, the Company experienced delays in obtaining information required to complete the audit of its financial statements.

The Company filed a notification of late filing on Form 12b-25 with the Securities and Exchange Commission on April 2, 2002.

Morgan & Company, the Company's independent auditors, are in the process of completing the audit of the Company's financial statements. The Company anticipates it will file its annual report on Form 10-KSB with the Securities and Exchange Commission on or before April 23, 2002.