COMMERCIAL CONSOLIDATORS REPRICES PRIVATE PLACEMENT PURCHASE

TORONTO, CANADA -- May 8, 2002 -- COMMERCIAL CONSOLIDATORS CORP. (the Company" (ZCC:AMEX; CCZ:CDNX; CJ9:Frankfurt) announces here today that, further to its press release of May 2, 2002 the Company and Michael Weingarten, the Chairman of the Company, have agreed to reprice a previously announced transaction wherein it was announced that Mr. Weingarten would acquire shares of Company common stock for U.S.$0.63 per share.

Under the terms of the revised transaction, Mr. Weingarten will convert U.S.$600,000 of Company indebtedness owed to him into 400,000 shares of common stock, each share being valued at a price of U.S.$1.50. In addition, Mr. Weingarten will receive five year warrants to purchase an additional 200,000 shares of Company common stock at an exercise price of U.S.$1.65 per share. Closing of the transaction remains subject to approval of the American Stock Exchange.

ABOUT COMMERCIAL CONSOLIDATORS CORP.
Commercial Consolidators Corp. is a diversified distributor of business technologies (cellular phones and accessories, and computer hardware and software) and consumer electronics to the Americas (North, South and Central). The Companys head office is located in Toronto, Ontario.

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   Statements about the Companys future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts, are forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Companys actual results could differ materially from expected results.