SCOTTSDALE, Ariz., April 4, 2002 (PRIMEZONE) -- Ableauctions.com(tm), Inc. (AMEX:AAC) (the "Company") announced today that its wholly owned subsidiary iCollector International has formed an exclusive strategic alliance with aXio (www.axioart.com), a leading provider of online auction services in Eastern Europe. aXio will act as a qualified and experienced reseller for icollector.com catalog listing and absentee bidding services in the growing Eastern European market in countries including Hungary, the Czech Republic and Slovakia.
Formed in 1999, aXio is the leading provider of online auction services and in May 2001 signed an exclusive deal with (origo), the most popular online portal in Hungary with over 2 million page impressions per day to become their exclusive partner for online auctions. In April 2001 aXio introduced a real-time bidding facility and has successfully broadcast over 40 auctions online from CEE countries since then.
Mark Hill, Director of Auction House Services and the relationship with eBay Live Auctions, stated, "We are extremely excited forming this alliance with such a key player in this area. Eastern Europe's auction market has been steadily growing in stature and we are pleased to be able to offer a new, wider variety of catalogs to our user base as well as offering, through axioart.com, auction houses the chance to grow their business through global online participation."
As shown through its ever-increasing relationships with major auction houses around the world, the Company is committed to offer a full complement of Internet broadcast services to its valued customers. The Company is determined to demonstrate to its shareholders the viability of its economic model through increasing revenue and profitability.
About Ableauctions.com
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.
About icollector.com
icollector.com is the independent connection to the world's auction houses. Founded in 1994, it was the first company dedicated to trading antiques, fine art and premium collectibles on the Internet. Today icollector.com represents more than 350 of the world's leading auction houses. Hundreds of thousands of collectors use icollector.com daily to search its global client base of auction houses and place bids, with the support of its extensive catalog archive. Since January 2001, its alliance with eBay Live Auctions has resulted in hundreds of Live Auctions being broadcast in real time, direct to the saleroom as the auction happens, selling tens of thousands of lots to many thousands of users online. With offices in Europe, the U.S.A and Canada, its unparalleled understanding and expertise in this sector can help you to maximize your opportunities to find, buy or sell art, antiques and collectibles online.
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.