MANHEIM CELEBRATES GRAND OPENING IN SHANGHAI

FOR IMMEDIATE RELEASE                    CONTACT:    Andrew Maraniss

November 29, 2006
McNeely Pigott & Fox

            (615) 259-4000

 

MANHEIM CELEBRATES OFFICIAL GRAND OPENING IN SHANGHAI

VIP Reception and Auction Mark Occasion at Manheim Guopai Facility

 

            ATLANTA - Manheim officially celebrated the grand opening of
its Manheim Guopai operating location in Shanghai, China, today. The
event was marked by a VIP reception and a wholesale vehicle auction.
Approximately 400 people attended, including 200 registered dealers who
bid on 105 vehicles. 

 

            The facility held its first sale on Sept. 20 and has hosted
weekly sales since the October autumn festival, offering more than 250
dealer vehicles and achieving around a 45 percent sale rate. Today's
event provided the opportunity to invite community and business leaders
to the facility and commemorate the partnership between Manheim and
Shanghai Guopai, an established auction house in the region.

 

            "Many people in China and in the United States have worked
hard to make this day possible," said Mike Langhorne, chairman of
Manheim China Holdings. "After our first visit to China almost three
years ago we've learned a lot and hopefully have contributed to
increased understanding of what's needed in order to develop a strong,
vibrant used vehicle industry. As the remarketing industry in China
grows in the future, we'll look back on this day as a historic occasion.
We're proud to be working with our Chinese partners to bring the full
spectrum of remarketing services to market here."

 

            "Our goal is to take a leadership role in establishing
processes, training procedures, and remarketing services to assist
China's used vehicle operators, including manufacturers and dealers,"
Manheim president and chief executive officer Dean Eisner said. "China
is, and will become, a large auto market, and as the worldwide leader in
providing remarketing services, it is a natural fit for us to provide
our services to buyers and sellers there."

 

            The expansion into China illustrates Manheim's strategic
effort of expanding its international business while meeting the growing
needs of our customers, Eisner said. Manheim currently operates outside
of the United States in Canada, Australia, the United Kingdom, Germany,
New Zealand, Spain, Thailand, France, and South Africa.

  

About Manheim

 

Manheim is the world's leading provider of automotive remarketing
services.  Through its live auctions and array of technology products,
Manheim impacts every stage of a used vehicle's life cycle, helping
commercial sellers and automobile dealers realize the full value of
their vehicles. 

 

The company's services include reconditioning, certification,
inspections, dealer financing, transport, title management and
marshaling, among others.  Manheim is also the leader in remarketing
technology, using its online tools to connect buyers and sellers around
the globe to the world's largest, most comprehensive wholesale
marketplace.  In 2005, Manheim handled nearly 10 million used vehicles -
and sold more than 5 million - representing more than $50 billion in
value. 

 

Manheim's subsidiary companies provide value-added remarketing products,

including paintless dent removal (Dent Wizard), Auto Body Repair, and
salvage vehicle remarketing (Total Resource Auctions).  

 

A wholly owned subsidiary of Cox Enterprises, Atlanta-based Manheim is a
global organization with 32,000 employees at its 139 U.S. and
international locations. For more information, visit www.manheim.com
<http://www.manheim.com/> .

 

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Andrew Maraniss
McNeely Pigott & Fox Public Relations
611 Commerce St.
Suite 2800
Nashville, TN 37203

615-259-4000
615-259-4040 (fax)