Notice of Earn Out Consideration
Dear Earn Out Consideration Note Holder,
During the month ending July 31, 2002, the iCollector operations conducted 11 Live Auctions and generated auction revenue of approximately £22,981.
Your support of Ableauctions is appreciated. You may direct any questions regarding this Conversion Notice to Abdul Ladha at the address above.
"Abdul Ladha"
President and Chief Executive Officer