FIFE, WASHINGTON - October 28, 2004 - Ableauctions.com Inc. (AMEX:AAC) (the "Company") has released an enhanced version of its successful online auction broadcasting software NAALive (www.naalive.com). NAALive, a joint venture between Ableauctions and the National Auctioneers Association (NAA) to provide online auction broadcast technology to the association's 6,000 members, utilizes the Company's real-time software to enable auction houses to broadcast their auctions live over the Internet.

This release of the latest software features several important new enhancements that were identified in collaboration with auctioneers and the members of the NAA, and will be unveiled systematically and in conjunction with new servers over the course of the next month. Included in the enhancements are built-in self serve tools that allow auctioneers to quickly and easily setup single or multi-session auctions, offer telephone, absentee and proxy bidding, and better handle catalogue import, bidder approval process and communication with bidders. Fundamentally, the enhancements enable the Company to handle a greater number of auctions simultaneously, schedule multi-ring auctions, and integrate several geographically displaced auctions seamlessly as one complete auction. As auctioneers routinely sell large quantities of multiple products, the ability to quickly and easily group lots and offer bidders the choice of selecting any one of the multiple lots is essential in running a brisk auction. The latest release of the technology offers enhanced features for "choice bidding" or "grouping".

Other enhancements include the addition and integration of a statistics module that facilitates the tracking of auction traffic and the management of bidder data for statistical and demographic reports. Also incorporated is a training module that enables first time bidders and auctioneers to learn the system and participate in monthly gift auctions designed to educate association members.

Ableauctions is committed to engineering the de facto industry standard solution for online auctioneers and is committed to continuously improve its technology through its technical expertise and collaboration with auctioneers.

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.