SCOTTSDALE, ARIZONA - May 28th, 2001- Ableauctions.com^TM, Inc. (AMEX:AAC) (the "Company"), announced today that the total number of auctions it conducts per quarter has increased 480% in the first quarter of 2001, compared to the same quarter last year.

The Company conducted 58 auctions during the three-month period ended March 31, 2001, compared to 12 auctions for the same period in 2000. "The Company's Auction activity has progressively increased month-to-month as the company expands its existing operations" said Jeremy Dodd, Chief Operating Officer. "We are also scheduled to conduct 25 auctions over the next 31 days and the Company is poised to handle this pace effectively.

Ableauctions' business strategy is built around a well-planned and aggressive auction calendar. Our success to date and the number of auctions held are supportive to our strategy and we intend to continue aggressively expanding our operations in Arizona, California, Washington State and British Columbia."

About Ableauctions.com

Ableauctions.com is a high-tech business-to-business and consumer auctioneer that conducts auctions live and simultaneously broadcasts them over the Internet. The Company liquidates a broad range of products including computers, electronics, office equipment, furniture and industrial equipment that are acquired through bankruptcies, insolvencies and defaults. This release and prior releases are available on the Company's Internet Auction web site located at www.ableauctions.com.