Scottsdale, Arizona May 23, 2000 - Ableauctions.com ^TM, Inc. (OTC BB: ABLC) announced today that it has acquired 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 has acquired 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 purchase price of Auctions West was US $70,000, fully paid in stock by the issuance of 10,000 shares of Ableauctions.com's common stock at a deemed price of US $7.00 per share.

Abdul Ladha, President and Chief Executive Officer of Ableauctions.com stated, "The acquisition of Auctions West serves a number of purposes. It provides Ableauctions.com in-house expertise in appraising assets and broadens the range of services provided by the Company in acquiring inventories through bankruptcies, insolvency's and defaults. The acquisition also further develops the Company's network and reach by providing access to a large number of bankruptcies and distress sales."

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.