Manchester, Inc. Signs Binding Term Sheet to Acquire Americars of San Antonio, Texas

DALLAS, Nov. 16, 2006 -- Manchester, Inc. (BULLETIN BOARD: MNCS) today announced that the Company has signed a binding term sheet to acquire all of the outstanding stock of JC Wink Inc., doing business as "Americars," in an all cash transaction. The binding term sheet provides for a definitive agreement to be executed and the closing to occur within thirty days, pending completion of due diligence.

Americars is one of five strategic dealerships Manchester has been negotiating to acquire as it continues to build its "Buy-Here/Pay-Here" used car businesses in the Central Texas market, from Georgetown in the North to San Antonio in the South. Earlier this year, the Company announced the acquisition of Nice Cars, Inc., a privately held Buy-Here/Pay-Here auto dealership as well as its affiliate Nice Cars Capital Acceptance Corporation, a credit acceptance company.

Manchester Inc. expects to execute binding term sheets with the shareholders of the remaining four companies shortly and proceed with due diligence immediately thereafter with the objective of closing within thirty days of execution. The combined five dealerships would add a capacity to sell an additional 1,500 vehicles per month that could translate into more than $200 million in additional annual sales for Manchester.

Americars is owned by South Texas banker and former Hondo, Texas new car dealer (Chevy Buick Oldsmobile Pontiac) John C. "Jackie" Winkler. Americars was organized in 1998 and currently operates one large Buy-Here/Pay-Here outlet and a separate service center in San Antonio, Texas. A second location is presently being remodeled with an anticipated opening in mid-December 2006. These locations, together with a third location under option, are expected to provide substantial company growth potential throughout the entire community.

In addition to these five dealerships, Manchester is presently completing negotiations for additional Buy-Here/Pay-Here dealerships throughout the country and expects to announce several binding term sheets before the end of 2006.

Richard Gaines, an executive of Manchester, Inc. stated, "This cluster of five dealerships in Central Texas marks the beginning of our group acquisition strategy. We are in advanced discussions with several dealerships throughout the U.S. These dealerships are mature established dealerships with existing revenue and earnings that provide operational, managerial, as well as strategic and efficient advantages for Manchester. By developing through acquisition and enabling the dealerships to individually expand within their local territories, the goal of Manchester Inc. is to become the preeminent Buy-Here/Pay-Here company in the country."

About Manchester, Inc.

Manchester, Inc. headquartered in Dallas, Texas, 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 receivable portfolios through a securitization process. On October 4, 2006, Manchester acquired Nice Cars, Inc. and Nice Cars Capital Acceptance Corporation. Nice Cars, Inc., headquartered in Chattanooga, Tennessee, operates six automotive sales lots that focus exclusively on the Buy-Here/Pay-Here segment of the used car market. Buy- Here/Pay-Here dealerships sell and finance used cars to individuals with limited credit histories or impaired credit problems. Nice Cars Acceptance is a financial services affiliate of Nice Cars, Inc. that purchases the retail sales contracts of Nice Cars, Inc. and assumes all rights and responsibilities with respect to sales contracts with varying terms, generally ranging from 36-60 months with interest charges of up to 26% annually.