Liquidation World Inc.
TSX : LQW

Liquidation World Inc.

October 11, 2005 08:00 ET

Liquidation World Announces Q4 Revenue and Win-Win Employee Incentive Program

CALGARY, ALBERTA--(CCNMatthews - Oct. 11, 2005) - Liquidation World Inc. (TSX:LQW) announces revenue for the fourth quarter, the thirteen weeks ended October 2, 2005, totaled $46.7 million, a 3.3% increase from $45.2 million during the corresponding period in 2004. Complete financial results of the fourth quarter and fiscal 2005 will be announced in mid-December 2005.

On a cumulative basis, revenue for fiscal 2005 totaled $184.0 million, consistent with $184.4 million during fiscal 2004.

Liquidation World also announces the Win-Win employee incentive program. Pursuant to one aspect of the program, senior management were offered stock options in consideration of them voluntarily reducing their base salary. Accordingly, on September 30, 2005 19 senior managers were granted stock options to acquire 124,950 common shares of the company for $3.50 (the closing price on September 30, 2005 was $3.02) and annual salaries were reduced by $124,950.

"The voluntary participation in this program by so many of our senior employees kick-starts our plans to reduce costs during the new fiscal year", said Jonathan Hill, President & CEO. "It is also an expression of confidence by those employees in our plans for the business and the future of our company."

The other aspect of the Win-Win program will see approximately 1,800 other employees share in 10% of cost savings achieved in fiscal 2006 compared to 2005.

About Liquidation World

Liquidation World liquidates consumer merchandise through 106 outlets across North America, and also provides store-closure sales management. 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 is now the largest liquidator in Canada, with more than 1,800 employees in outlets and offices across Canada and the United States.

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