Liquidation World Inc. (LQW-TSE; LIQWF-Nasdaq) is pleased to announce the opening of seven (7) outlets in the first quarter of fiscal 2002.

New outlets in Mission, B.C., Windsor, Ontario, Brantford, Ontario, and Richmond, B.C. will extend Liquidation World’s market penetration and take advantage of existing marketing and logistical infrastructure.

Three new outlets in East Texas are temporary and became available as a result of a major U.S. company’s restructuring efforts.

"It is a perfect example of our ability to solve several problems for a client company," said Dale Gillespie, President and C.E.O. of Liquidation World. "In this case, we conducted the going out of business sales in East Texas for each of these stores. Now we are able to help mitigate our client’s lease and other costs by restarting operations in these stores under our own banner. Further, we are able to provide a retail channel for ongoing overstocks and clearance merchandise for our client."

The four new Canadian outlets will all be open for business by early December. The outlets in East Texas will be open in late November.

Liquidation World is a retail liquidator of consumer merchandise through 94 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 is celebrating its 15th year of growth and profitability, and is now the largest liquidator in Canada with more than 1600 employees in outlets across Canada and the U.S.