Manchester Inc. to Host Dealer Suite at National Buy-Here/Pay-Here Convention
DALLAS, May 11, 2007 -- Manchester Inc. (BULLETIN BOARD: MNCS) announced today that it plans to host a Dealer Welcome Suite at the upcoming National Buy-Here/Pay-Here Convention in Las Vegas, Nevada. The suite will be available Monday May 14th through Wednesday May 16th and will provide Dealers an opportunity to discuss the Manchester business model directly with management, as well as to discuss potential business transactions including possible acquisition opportunities.
Chantelle Hardy, Manchester's Director of Communications, stated, "We have consistently received a high volume of interest from dealers across the country. We believe that the National Buy-Here/Pay-Here Convention led by Ken Shilson, could provide an excellent opportunity to meet with many of these successful dealers."
Dealers who visit the suite will be provided the use of fax and Internet services that are available, hors d'ouevres and refreshments will also be provided.
Manchester's Communications Director Chantelle Hardy will be available to take calls regarding the Dealer Welcome Suite at 214-402-6903.
About Manchester Inc.
Manchester, headquartered in Dallas, Texas, is seeking to create the preeminent company in the Buy-Here/Pay-Here auto business. Manchester intends to sell acquired and newly generated receivable portfolios through a securitization process. Buy-Here/Pay-Here dealerships sell and finance used cars to individuals with limited credit histories or past credit problems, generally financing sales contacts ranging from 24-48 months.
On October 4, 2006, Manchester acquired Nice Cars, Inc. and Nice Cars Capital Acceptance Corporation. Nice Cars, Inc., headquartered in Ft. Olgethorpe, Georgia, operates six automotive sales lots that focus exclusively on the Buy-Here/Pay-Here segment of the used car market.
On December 29, 2006 Manchester acquired F.S. English, Inc. (now operating as Freedom Auto Sales) and GNAC, Inc. (now operating as Freedom Auto Acceptance), headquartered in Indianapolis, Indiana. Freedom Auto Sales operates three automotive sales lots that focus exclusively on the Buy- Here/Pay-Here segment of the used car market.
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 the press release will be successfully completed or that the Company will realize the anticipated benefits of any transactions. 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; 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's 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's SEC filings.