NEW YORK, Nov. 11 /PRNewswire-FirstCall/ -- Auction Floor, Inc. (Pink Sheets: AFLO) (Frankfurt: ZUI.F), a leading provider of auction technology and e-commerce solutions announced that the previously held special meeting of shareholders was invalidated.

On October 2nd, 2008, the Maricopa County Superior Court, Phoenix, Arizona, issued a Temporary Restraining Order invalidating the Special Meeting of Shareholders held on September 10th, 2008. A final and permanent declaratory judgment invalidating the meeting was approved by the Court on November 5th 2008.

The effect of the Court's order was to leave in place Louis Sagar as President and CEO of the Company and the Company's Board of Directors.

The Company intends to schedule an Annual Meeting of Shareholders in New York in early 2009 in accordance with its Bylaws and Articles of Incorporation.

The management of the Company is committed to continuing the execution of its business strategy and is preparing an updated sales and operating plan for 2009 that takes into account the recently dramatically altered economic climate.

CAUTIONARY STATEMENTS

This document does not constitute an offer to sell or a solicitation of an offer to buy any of our securities. This document contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may include projections of matters that affect revenue, the ability to develop or license certain technologies; operating expenses or net earnings; projections of capital expenditures; projections of growth; hiring plans; plans for future operations; financing needs or plans; plans relating to the company's products and services; and assumptions relating to the foregoing. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking information. 


    Contact:     Investor Relations
                 Auction Floor, Inc.
                 info@auctionfloor.com
                 212-925-1267

SOURCE Auction Floor, Inc.