| March 08, 2006 Euro Auctions Ltd. Auction Facilitated by Ableauctions and NAALive Realizes $1.5 Million to the Internet LEEDS, England--March 8, 2006--Ableauctions.com (AMEX:AAC - News) announced today that the Euro Auctions event held February 2, 2006, sold approximately $1.5 million to the Internet with an Internet influence reaching almost $16 million. Euro Auctions also realized $1,327,157 to the Internet at their first ever Cologne, Germany, auction held on March 3, 2006, featuring the sale of four 2002 Volvo L150E Wheeled Loaders for $81,902 each with the Internet bidding proving to be a real success. Live Internet bidding has proven to be a great success for Euro Auctions. According to management, Internet bidding has enabled the company reach a whole new audience worldwide, especially the US. For the past seven years Euro Auctions (UK) Ltd. has serviced customers from around the world. Their success has been built around treating buyers and sellers equally, with a reputation for dealing with them on an individual basis, each as important as the next. Euro Auctions (UK) Ltd. is optimistic about continuing the trend of increasing sales revenue through the advent of its new Cologne auction facility and continuing growth of live Internet bidding, which has grown by over 100% in 2005 and is expected to grow a further 30 to 40% this year. Euro Auctions (UK) Ltd. specializes in conducting offsite and onsite auction sales and valuations throughout Europe. Parties interested in holding onsite auctions for surplus stock clearance or cessation of trading should visit www.euroauction.asp-host.co.uk About NAALive.com NAALive is an Internet-based broadcast service for NAA members who conduct real auctions. Utilizing NAALive's real-time software, auction houses broadcast over the Internet and online bidders participate in live auctions as if they were physically present at the auction. NAALive also enables bidders to review auction catalogs and place absentee bids prior to an event. NAALive is rapidly becoming the standard for live Internet auctions and the premier Web site for consumer access to the auction industry. This means thousands more potential bidders for your auctions. For more information visit www.naalive.com About Ableauctions.com Ableauctions.com Inc. (AMEX:AAC) is a high-tech liquidator and on-line auction facilitator that operates the domains iCollector.com, Naalive.com, Unlimited Closeouts.com and iTrustee.com. As an on-line auction facilitator, the Company, with the experience of over 3,000 auctions, has developed state-of-the-art technology to broadcast auctions over the Internet (www.ableauctions.com/technology) and currently provides the technology and related services to auction houses, enabling them to broadcast auctions over the Internet. The Company broadcasts business and industrial auctions over the Internet for auctioneers and members of the National Auctioneers Association (NAA) and art, antique and collectible auctions for numerous galleries and auction houses around the world through eBay Live Auctions. As a liquidator, the Company, through Unlimited Closeouts and iTrustee, purchases overstocks, order cancellations and discontinued products from major manufacturers and importers, then sells the merchandise to major retail chains, other resellers or the public. For a comprehensive Corporate Update and prior releases, visit www.ableauctions.com. For more information, contact Investor Relations at investorrelations@ableauctions.com This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company's financial position and the Company's business strategy. The words or phrases "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the performance of our staff, management, financing, competition, on-line auction business, our ability to implement or manage our expansion strategy, general economic conditions, our ability to license our software to other auction houses, our ability to acquire profitable companies and integrate them into our business successfully and other factors that are detailed in our Annual Report on Form 10-KSB and on documents we file from time-to-time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place undue reliance on such statements. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from the Company's expectations and estimates. The Company does not realize nor book the full revenue of auctions that it facilitates in its financials, only the net auction fees, that can vary from time-to-time, that it realizes. |