Manchester, Inc. Completes Three Year Consolidated Financial Audit for Acquisition Company

DALLAS, Sept. 1 -- Manchester, Inc. (BULLETIN BOARD: MNCS) today announced it has completed a three year consolidated financial audit of the first "Buy-Here Pay-Here" dealership it plans to acquire. The Company chose to conclude this audit in advance of closing the acquisition in order to assure compliance with the U.S. Securities and Exchange Commission's requirement to file audited financial statements within four days of closing. Manchester anticipates that it will close and disclose the identity of this acquisition shortly.

Mr. James A. Worosz, Senior VP Finance, said, "The completion of the three-year audited statements will enable the Company to close the acquisition of its first 'Buy-Here/Pay-Here' dealership and begin the execution of the business model."

The Company indicated that it is also in discussions with several other dealerships which could lead to additional transactions within the next 90 days.

Manchester, Inc., headquartered in Dallas, seeks to create the preeminent company in the Buy-Here Pay-Here auto business selling and financing used vehicles to credit-impaired borrowers. The company intends to sell acquired and newly generated portfolios through a securitization process thereby permitting the Company to continue its growth.

This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on currently available competitive, financial, and economic data and management's views and assumptions regarding future events. Such forward-looking statements are inherently uncertain. Manchester cannot provide assurances that any prospective matters described in this press release will be successfully completed or that the company will realize the anticipated benefits of any prospective transaction. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to: global economic and market conditions; the war on terrorism and the potential from war or other hostilities in other parts of the world; the availability of financing and lines of credit; successful integration of acquired or merged businesses; changes in interest rates; management's ability to forecast revenues and control expenses, especially on a quarterly basis; unexpected decline in revenues without a corresponding and timely slowdown in expense growth; the company's ability to retain key management and employees; intense competition and the company's ability to meet demand at competitive prices and to continue to introduce new products and new versions of existing products that keep pace with technological developments, satisfy increasingly sophisticated customer requirements and achieve market acceptance; relationships with significant suppliers and customers; as well as other risks and uncertainties, including but not limited to those detailed from time to time in the Manchester SEC filings. Manchester undertakes no obligation to update information contained in this release. For further information regarding risks and uncertainties associated with the business of Manchester, please refer to the risks and uncertainties detailed in the Manchester SEC filings.