Liquidation World Inc. (LQW – TSE; LIQWF – Nasdaq) announces that the motion to adopt a Shareholder Rights Plan was defeated by shareholders at its Annual General and Special Meeting of Shareholders held in Calgary on January 24, 2001. The Shareholder Rights Plan was designed and intended to protect the Company's shareholders from unfair, abusive or coercive take-over strategies, including the acquisition of control of the Company through a take-over bid that does not treat all shareholders equally or fairly.

The Company is not aware of any pending or threatened take-over bids for the Company.

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