MATRIX Penny Stocks

[sludgehound]

AAC ups A/S 62.5M to 100M

0.68 unchg 15K vol
FIFE, Wash., Jul 7, 2004 (BUSINESS WIRE) -- Ableauctions.com Inc. (AMEX:AAC)
(the "Company") announced today that its shareholders approved and adopted the
following actions at the Company's annual general meeting on July 6, 2004.

The shareholders appointed Abdul Ladha, Barrett Sleeman, Dr. David Vogt and
Michael Boyling to the Board of Directors of the Company, and ratified the
selection of Cinnamon Jang Willoughby as independent auditor for the Company for
the fiscal year ending December 31, 2004.

The shareholders also approved the resolution to increase the Company's
authorized number of common shares from 62,500,000 to 100,000,000 and approved
the Company's 2002 Consultant Stock Plan.

Approximately 50.4 million shares were represented at the meeting, either by
proxy or in person.