FIFE, WASHINGTON - July 28, 2004 - Ableauctions.com Inc. (AMEX:AAC) (the "Company") announced today that it has expanded its iTrustee and Unlimited Closeouts liquidation operations into Canada and South-East Asia.

The Company's has seen its liquidation operations expand considerably in the last two quarters, with more than half to the Company's projected second-quarter revenues of $1.5 million stemming from liquidation services. The operations will continue to be managed from the Company's California offices, but will see increased exposure of its inventory into the Canadian and Asian marketplace.

iTrustee.com Technologies Ltd. and Unlimited Closeouts Inc. are wholly owned subsidiaries of Ableauctions.com Inc. iTrustee.com is a reseller platform designed to sell bank and trustee inventories, as well as distressed merchandise, exclusively to resellers, auctioneers and liquidators.

About Ableauctions.com

Ableauctions.com is a high-tech auctioneer that conducts auctions live and simultaneously broadcasts them over the Internet. With the experience of over 3,000 auctions, the Company has developed state-of-the-art technology to broadcast Internet auctions (www.ableauctions.com/technology) and currently provides technology and related services to auction houses, enabling them to broadcast auctions over the Internet. For a comprehensive Corporate Update and prior releases, visit www.ableauctions.com. For more information, contact Investor Relations at investorrelations@ableauctions.com.