Ableauctions - J.M. Wood 34th Annual Late Summer Auction Sells $1.3 Million Online, Setting Internet Sales Record for J.M. Wood for a September Auction.

MONTGOMERY, Ala. -- Ableauctions.com (AMEX:AAC) announced today that JM Wood's 34th Annual Late Summer Auction held August 30th to September 1st, 2006 and broadcast through NAALive.com realized $1.3 million online with Internet bidding influencing over $15 million in revenue. This event brought record sales for a September auction to date. Highlights of the auction included the following online sales:

2006 Mack CV713 Granite Tri-Axle Dump $94,000.00

2006 Mack CV713 Granite Tri-Axle Dump $94,000.00

Cat 140H VHP Motor Grader $173,000.00

Cat 140H Motor Grader $165,000.00

Hitachi ZX200 Hydraulic Excavator $99,000.00

J.M. Wood Vice President Bryant Wood said, "We are seeing tremendous results from our online auctions and NAALive does a great job of adding to the excitement of our live auctions."

JM Wood Auction Company Inc. has been in business, specializing in construction, forestry and county surplus auctions, for 34 years and attributes their accomplishments to their advertising and professional staff. Teamed with a staff that holds years of experience, J.M. Wood has built a mailing list of 75,000 national and international prospective buyers and advertises in national publications such as: Rock & Dirt, Rock & Dirt En Espanol, Machinery Trader, Equipment Trader and Contractors Hotline. Through these marketing tools J.M. Wood expects continued success at their two locations in Montgomery, Alabama, and Columbia, South Carolina.

About NAALive

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 premiere Web site for consumer access to the auction industry. This means thousands more potential bidders for your auctions.

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 and Unlimited Closeouts.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, 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 [e-mail].

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." 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, loss of management personnel, an inability to obtain financing as and when we need it, competition from other on-line auction businesses, 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. E.&O.E.