MANHEIM ANNOUNCES SECOND JOINT VENTURE IN CHINA

FOR IMMEDIATE RELEASE                    CONTACT:    Andrew Maraniss

November 30, 2006
McNeely Pigott & Fox

            (615) 259-4000

 

MANHEIM ANNOUNCES SECOND JOINT VENTURE IN CHINA

Shenzhen Partnership Builds on Early Success in Shanghai

 

            ATLANTA - Manheim announced today that it has entered into a
second joint venture in China, this time in the city of Shenzhen, a
booming center of economic development in the southern Guangdong
province. Manheim's Chinese partner in the venture is China Merchant
Group. 

 

            Ground was broken for the two-lane auction facility and
state-of-the-art reconditioning center in July of this year and the
facility is scheduled to hold its first sale on Dec. 15, when around 80
vehicles from area General Motors' dealers will be auctioned.

 

            In May of this year, Manheim announced its first partnership
in China with the auction house of Shanghai Guopai, and the first sale
was held at the Manheim Guopai operating location in Shanghai on Sept.
20. The official Opening Ceremony was conducted Nov 29.

 

            "Manheim is proud to be a part of the development and growth
of the wholesale auto market in China," said Manheim president and CEO
Dean Eisner. "We've had a great experience in Shanghai, and while we
know there are different challenges in Shenzhen, we have a powerful
partner there and high expectations." 

 

            Neville Green, Manheim's Director of China Holdings, said
this second joint venture is an important step in the development of the
remarketing industry in China. 

 

            "China Merchant Group is a very influential partner and will
complement Manheim's strengths," Green said. "Shenzhen is an important
region; it has the biggest car parc per capita in China and is an
important center of commerce in the wealthy Pearl River Delta."

 

            Situated in Guandong Province, population 91 million,
Shenzhen has a population of more than 4 million in the metropolitan
area and approximately 14 million in the district. It has the busiest
port in China and borders Hong Kong.

 

            "The facility in Shenzhen is truly state-of-the-art and will
serve as a wonderful introduction to wholesale auto auctions in this new
market," said Mike Langhorne, chairman of Manheim China Holdings. "Our
partnership with China Merchant Group has allowed us to create a
first-class facility that will allow us to serve the needs of dealers in
this important and fast-growing area of China."

 

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)