Scottsdale, Arizona May 11, 2000 - Ableauctions.com^TM, Inc. (OTC BB: ABLC) announced today that it has signed a letter of intent to acquire Auctions West Sales Corporation.

Auctions West, located in British Columbia, is a certified appraiser of assets of bankrupt persons or businesses with annual revenues of approximately US $500,000. Ableauctions.com will acquire the business assets that include material contracts, office equipment, furniture and fixtures, goodwill and other intangible assets including all intellectual property associated with the name "Auctions West".

The acquisition is subject to, among other things, satisfactory due diligence and signing of a formal asset purchase agreement.

Closing is scheduled to take place on or before the end of May 2000.

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.