Liquidation World Inc.

Liquidation World Inc.

February 20, 2008 19:53 ET

Liquidation World Announces Board of Directors

BRANTFORD, ONTARIO--(Marketwire - Feb. 20, 2008) - Liquidation World Inc. (TSX:LQW) today announces that Mr. Eric Beutel, Mr. Craig Graham and Mr. Jeffrey Mandel were elected to its board of directors at the Annual General Meeting of Shareholders, held in Toronto on Friday, February 15th, 2008. These gentlemen join Mr. Bob Wiens, CA and Liquidation World President and CEO Mr. Jonathan Hill, who were both re-elected to the board.

Mr. Beutel is a Director, Vice President and Secretary of Oakwest Corporation Limited, a private investment company in Toronto. Mr. Beutel also sits on the Board of Directors and Investment Committee of The Equitable Group, a TSX listed company.

Mr. Graham is currently a Director and investor in a number of companies including Executive Risk Services Limited, Norsim Equipment Limited, and Twenty First Century Investments Inc. Mr. Graham is also a Trustee of Specialty Food Income Fund.

Mr. Mandel is the President of AMR Securities Services Inc. and Vice President, Israel Opportunity Inc. He also is a Director of Mitec Telecom (TSX), Goldbard Capital (TSXV) and privately owned companies Tiltan Pharma and Datex Billing Services Inc.

Mr. Wiens, who has served on Liquidation World's Board since 2005, is a business consultant and is also actively involved with a number of charitable organizations. Previously, Mr. Wiens was CFO of D-Wave Systems Inc., President and CEO of FACS Record Centre Inc., and managing partner with Arthur Andersen in Ottawa and Vancouver.

Mr. Hill, who joined Liquidation World in 1991, was appointed President and CEO in 2005. He also was elected to the board that same year.

During the Annual General Meeting it was resolved that the size of the board would be reduced from 7 to 5 members.

Mr. Darren Gillespie, who did not stand for re-election to the board, continues in his Executive role with the Company as Senior Executive Vice President of Liquidation World, and President LQW Traders Inc., the Company's US buying arm. Mr. Leslie Landes also did not stand for re-election.

Mr. Hill noted: "On behalf of the entire Company, I would like welcome our new board members and I look forward to working with them as they bring their insight and experience to bear on our business. I would also like to thank our departing board members for their contributions to the Company over the years."

About Liquidation World

Liquidation World liquidates consumer merchandise through 104 retail outlets. The Company solves asset recovery problems in a professional manner for the financial services industry, insurance companies, manufacturers, wholesalers and other organizations. Liquidation World is based in Brantford, Ontario and maintains a number of regional buying offices in Canada and the United States. The Company opened its first retail outlet in Calgary, Alberta in 1986 and today, with more than 1,600 employees, is Canada's largest liquidator.

Forward-Looking Statements

This release includes forward-looking statements and potential future circumstances and developments. Forward-looking statements regarding future performance are subject to risks and uncertainties, and actual results may differ materially. Due to fluctuations in gross margins and expenses, an increase in revenue does not directly correlate to an increase in net earnings.

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