Liquidation World Inc. (LQW – TSX; LIQWF – Nasdaq) announces revenue for the third quarter, the thirteen weeks ended July 7, 2002, totaled $42.5 million, a modest increase from $42.3 million during the corresponding period in 2001.

On a cumulative basis, revenue for the first three quarters of 2002 totaled $133.8 million, a 2% decrease from $136.2 million during the 39 weeks ended July 1, 2001.

Complete financial results of the third quarter of the 2002 fiscal year will be announced August 2002.

Liquidation World recently opened a new outlet in London, Ontario bringing to 96 the total number of outlets open and operating. This outlet extends Liquidation World’s market penetration and takes advantage of existing marketing and logistical infrastructure.

About Liquidation World
Liquidation World offers a uniquely diversified menu of solutions for organizations with asset recovery issues. Services include auctions, reverse logistics and processing, store closure sales management, turnaround consulting, and retail liquidations of consumer merchandise through 96 outlets across North America. Liquidation World solves asset recovery problems, in a professional manner, for banks, trustees, insurance companies, manufacturers and other organizations. Liquidation World opened its first retail outlet in 1986 and is now the largest liquidator in Canada, with more than 1,600 employees in outlets and offices across Canada and the United States.