On a cumulative basis, sales increased 9% to $122,929,000 during the first three quarters of fiscal 2000 from $112,943,000 during the 39 weeks ended July 4,1999. Net earnings increased 25% to $3,888,000 ($0.47 per share) from $3,105,000 ($0.38 per share) during the corresponding period in fiscal 1999.

During the third quarter and early in the fourth quarter, the Company opened an outlet in Steinbach, Manitoba, Coeure d’Alene, Idaho and Yakima, Washington. Each of these outlets help to extend Liquidation World’s market presence and brings the exciting, bargain hunting shopping experience to new markets without significantly increasing operation costs. There are already Liquidation World outlets in the geographic proximity but these outlets will cause little cannibalization of sales from existing outlets.

As previously announced, the Company closed both outlets in Ohio and one in Seattle during the quarter. The Ohio outlets were originally opened 18 months ago to facilitate the processing of inventories from a major contract that proved to be unprofitable. The Seattle outlet was one of six opened on a temporary basis to test that market. The Company opened another outlet in the fourth quarter of fiscal 1999 that will serve many of the customers of that closed Seattle outlet.

Liquidation World is a retail liquidator of consumer merchandise through 85 outlets across North America. The Company conducts Auctions of a diverse range of merchandise and equipment in the Calgary and Edmonton, Alberta markets and through on-site auctions across North America. Liquidation World solves inventory problems, in a professional manner, for banks, receivers, insurance companies, manufacturers and other organizations, and is committed to providing its customers with outstanding value over a broad range of merchandise. Liquidation World opened its first outlet in 1986 and is now the largest liquidator in Canada, with more than 1600 employees in outlets across Canada and the U.S.

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For more information, please contact:
Mr. Dale Gillespie, President & C.E.O.
Mr. Andrew Searby, CA, Chief Financial Officer
E-mail: investorinfo@liquidationworld.com
Website: www.liquidationworld.com
Telephone: (403) 250-1222
Fax: (403) 291-1306