Ableauctions Appoints Robert Craig as iCollector CEO and Sir Anthony Jolliffe as Ableauctions Director.

Business Editors, Technology Writers

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Oct. 11, 2001

Ableauctions.com(TM), Inc. (AMEX:AAC) (the "Company"), is pleased to announce today that it has appointed Robert Craig as the CEO of iCollector and Sir Anthony Jolliffe as a director of Ableauctions.

Mr. Craig currently acts as Chairman of New Media B.C., an association that merges new technologies and traditional industries with over 200 members that include some of the world's leading new media companies based in B.C. Mr. Craig was the founder and CEO of privately held Stratford Internet Technologies Inc. from 1996 to 2001. With offices in Canada and the United States, Stratford realized sales of 7 million USD in fiscal year 2000. Under his management, Stratford Internet Technologies was a Lotus Award winner, Communication Arts Award winner and a Canadian Fast 50 Company Shooting Star. Mr. Craig was Ernst and Young's Entrepreneur of the Year Finalist, Pacific Region, in year 2000 as well as Business in Vancouver's Top 40 under 40.

Of his appointment Mr Craig said: "iCollector has a strong track record in forging partnerships with hundreds of the world's most prestigious auction houses, dealers and galleries. In addition, in January 2001, the company secured an exclusive partnership with eBay that gives unprecedented user and client access to the formidable eBay Live Auctions technology. I am proud to work with a skilled team at iCollector and I look forward to attaining the company's full potential in the burgeoning antique, art and collectibles Internet marketplace."

Sir Anthony was qualified as a Chartered Accountant in 1964. He commenced his own accounting practice in 1965 and grew the business into a multi-national operation with offices in 44 countries with over 200 partners. In 1980 the receivership practice, Cork Gully, merged with Cooper Lybrand and the audit practice, Jolliffe Cork, merged with Grant Thornton. Sir Anthony remained a partner of Grant Thornton for 2 years before retiring from the accounting profession.

Sir Anthony currently holds and has held many Directorships of Private and Public Companies in the UK, USA and Japan including Chairman of Corel Europe and as a Director of Japan Airlines Trading UK Ltd. He acted for DHL in the sale of its business to Japan Airlines and has served as Chairman of the Advisory Board of ABN AMRO Ventures since 1982.

Sir Anthony is an Advisor to Regent Hotels (Carlson Hospitality) for the UK, Europe, Mid East and Asia. He is also Chairman of Fawley Capital Ltd., a joint venture Company between Sir Robert MacAlpine, Regent Hotels and Sir Anthony Jolliffe. He is currently involved in major business projects in China, the Middle East, USA and the UK as a shareholder, partner, advisor and consultant.

Sir Anthony has led International Trade Missions to Spain, Japan, Germany, Zambia and Argentina. He has also held a number of other prestigious positions and appointments. A few of these are as follows:

-- National Treasurer of Relate 1971 - 1976

-- Treasurer of Britain in Europe Movement 1970 - 1976

-- Treasurer and Vice-President of European League for Economic Co-operation
1970-1980

-- Alderman of the City of London 1973-1983

-- Sheriff of the City of London 1980-1981

-- Lord Mayor of London 1982-1983

-- President of the Royal Society of St. George 1978- 1979

-- President of the London Chamber of Commerce 1984-1987

-- President of the Society of Dorsetmen 1984-1986

-- Chairman of Operation Drake 1978-1982

-- Advisor to HRH Prince Charles on unemployment 1982-1988

Honors:

-- Knighted 1982 GBE 

-- Knight of Order of St. John 1982

-- Order of Abdul Azziz 1981 - Saudi Arabia 

-- Order of Nepal 1981

-- Order of the Orange Netherlands 1982

-- Hon Doctor of Science (City of London University)

-- Hon Doctor of Music (Guildhall School of Music)

About iCollector

iCollector was founded in 1994 and provides an indexed catalogue of art, antiques and collectibles for over 300 auction houses, dealers and galleries in the United States, Europe and the United Kingdom and facilitates transactions by broadcasting live auctions over the Internet in conjunction with eBay Live Auctions. The company has spent over US $25 million in developing its infrastructure and today, represents hundreds of the world's premier auction houses and some of the world's most reputable dealers and galleries. On a typical day over 25,000 art works, antiques and collectibles are available to be bid for and bought on iCollector's website.

About Ableauctions

Ableauctions.com is a high tech business-to-business and consumer auctioneer that conducts auctions live and simultaneously broadcasts them over the Internet. The Company liquidates a broad range of products including computers, electronics, office equipment, furniture and industrial equipment that are acquired through bankruptcies, insolvencies and defaults. This release and prior releases are available on the Company's Internet Auction web site located at www.ableauctions.com.

This press release contains forward-looking statements, particularly as related to the business plans of the Company, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Such forward-looking statements involve known and unknown risks, uncertainties 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 auction houses, our ability to implement our inventory procurement strategy, general economic conditions, our ability to license our software to other auction houses, and other factors that are detailed in our Annual Report on Form 10-KSB filed with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results may differ materially from the Company's expectations and estimates.