News Releases - 2006


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Calgary, Septmeber 6, 2006

Position to focus on expanding the number of outlets and streamlining store opening processes.

Liquidation World Inc., (LQW-TSX) is pleased to welcome Darryl Chenoweth to the position of Senior Vice President, Real Estate and Development. In this newly created executive role, Mr. Chenoweth will oversee Liquidation World’s real estate portfolio and drive its outlet expansion strategy.

Mr. Chenoweth possesses an extensive 20-year background in the retail sector with Loblaw Companies, Joggers/Campus Crew, Payless Shoes, The Aldo Group and Factory Carpet. A seasoned retail professional, Mr. Chenoweth has relevant senior level experience in both Canada and the United States in the areas of real estate development, store operations, strategic planning and staff development.

Liquidation World President & CEO Jonathan Hill said, “Darryl is a great addition to our team. He brings important firsthand experience with rapid retail expansion. As announced previously, we have already secured 14 new store locations that will open in the coming months, and are actively pursuing additional locations, so we will be able to draw on Darryl’s experience immediately. Furthermore, we believe that there is opportunity to streamline our store opening processes and Darryl’s knowledge in this area will help us to further improve our capabilities as we execute our growth plans.”

“I am very pleased to be joining such a unique, growth-oriented company. Liquidation World had made a number of strategic investments in its infrastructure to sufficiently prepare itself for growth in the coming years. I look forward to helping the Company properly leverage those investments to deliver improved shareholder value,” said Mr. Chenoweth.

The addition of Mr. Chenoweth to the Liquidation World team completes the senior management reorganization that has transpired over the past year. In October 2005, Maurice Chelli, former senior general merchandise manager of Home Outfitters joined Liquidation World as Senior Vice President, Merchandising. In March 2006, former Home Depot executive Dennis Kennedy was appointed Senior Vice President, Operations. Mr. Hill noted, “Over the past year, we have very carefully crafted a senior executive team that is pragmatically growth-minded and capable. We are excited about these changes and the positive impact they are already having on our organization.”

Mr. Chenoweth will be based in Liquidation World’s Brantford, Ontario offices.

About Liquidation World

Liquidation World liquidates consumer merchandise through 103 outlets across Canada and the northwest US. Fiscal 2005 sales totalled CAD $184 million. The Company solves asset recovery problems in a professional manner for the financial services industry, insurance companies, manufacturers and other organizations. Liquidation World opened its first retail outlet in 1986 and, today, with more than 1,800 employees, is Canada’s largest liquidator.

For more information, please contact:

Jonathan Hill, President and CEO
416-587-0688 phone
866-237-3778 fax
jonathanh@liquidationworld.com

Andrew Searby, CA, Executive VP, and CFO
403-250-1222 phone
403-291-1306 fax
investorinfo@liquidationworld.com