July 4, 2001 – Calgary, Alberta

Liquidation World Inc. (LQW – TSE; LIQWF – Nasdaq) is pleased to announce sales for the third quarter, the thirteen weeks ended July 1, 2001, totaled $42.0 million, a 6% increase from $39.6 million during the corresponding period in 2000. Total sales during the third quarter of 2001 are the highest ever for any third quarter.

On a cumulative basis, sales for the first three quarters of 2001 totaled $135.9 million, an 11% increase from $122.9 million during the 39 weeks ended July 2, 2000.

Complete financial results of the third quarter of the 2001 fiscal year will be announced August 2001.

Liquidation World is a liquidator of consumer merchandise through 88 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 1,600 employees in outlets across Canada and the U.S.

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