Manheim Auctions In Gear Selling Pre-Owned Vehicles Via the Internet

15 July 1997
Manheim Auctions In Gear Selling Pre-Owned Vehicles Via the Internet

    Manheim Online Extends the Company's Offerings to Wholesale Automobile
      Professionals by Providing Instant Access to Thousands of Vehicles
                              Every Hour, Every Day

    ATLANTA, July 15 -- Manheim Auctions Inc., the world's
largest auto auction company, today announced the nationwide launch of Manheim
Online.  Available only to wholesale automobile professionals, Manheim Online
 (http://www.manheim.com) is a natural extension of Manheim Auction's traditional
auction business -- offering premium used cars to dealers and manufacturers.
Launched under limited testing in April 1996, Manheim Online has processed
more than $50 million in pre-owned vehicle sales during the last 14 months.
    "Manheim Online is the perfect complement to our core business," said
Ralph Liniado, senior vice president of development for Manheim Auctions.
"The relationship and trust we've built with our more than 120,000 customers
has enabled us to successfully extend our business to the Internet."
    "We believe Manheim Auctions' approach to electronic commerce is a model
for success on the Internet," said Dave Taylor, vice president and research
area director of Gartner Group, a computer industry research firm.  "By
helping current customers become more efficient and profitable, Manheim Online
maximizes the Internet's capability for customer service."

    Leading Auto-Related Electronic Commerce
    At Manheim Online, wholesale automobile professionals can purchase
vehicles online, prepare a pre-sale catalog for upcoming auctions, view
auction inventory and track sales data.  Manheim Online has forged
partnerships and marketing agreements with many automobile companies -- both
foreign and domestic -- allowing Manheim Online to offer vehicles from major
automobile manufacturers, including:

    Acura
    BMW Financial Services
    GE Capital Fleet Services
    Honda
    Lexus Financial Services
    Mercedes Benz Credit Corp.
    Mitsubishi Motor Credit Corp.
    Oxford Resources
    Toyota Motor Credit Corp.
    Volvo
    VW Credit, Inc.
    World Omni Financial

    With Manheim Online's CyberLot feature dealers can get behind the wheel of
a car by viewing and inspecting digitized images of vehicles, including any
imperfections, for sale from the online catalog.  Dealers can search for a car
by make, model and year with details on the vehicles equipment, color,
transmission type, mileage, condition and more.  Once dealers have found the
car of their choice, a simple click on "buy" links to an online order form and
begins the contract cycle.  Manheim Online also lets dealers read purchasing
policies, learn about upcoming on-site auctions and arrange reliable
transportation for vehicles purchased.
    In the coming months, Manheim Online will roll-out additional
functionality, including real-time CyberAuctions, inventory and purchasing
data and customer service utilities.

    Instant Access to Sales Information
    In addition to providing extensive information on millions of for-sale
cars, Manheim Online also delivers instant access to the Manheim Market Report
-- the most authoritative pre-owned vehicle pricing guide available today.
Accurate and timely information is always available with weekly updates.
    By providing historical actual sales data on more than 15 million Manheim
Auctions transactions, wholesale automobile professionals can accurately price
any pre-owned vehicle to ensure the best deal for both the buyer and the
seller.  This data was previously available by subscription only at a cost of
more than $600 per year with monthly updates.  Using the Internet as a
delivery mechanism allows Manheim Auctions to provide hours-old data on-demand
directly to dealers for a $30 premium fee above the $20 per month basic
subscription to Manheim Online.

    Point-of-Sale Application
    The services offered by Manheim Online are available exclusively to
wholesale automobile professionals.  A unique point-of-sale approach to
Manheim Online has been common during the initial roll-out of the service.
Dealers have often used Manheim Online as an "extended inventory" to share
with their retail clients.
    As an example, a customer may come into a Lexus dealer in search of a
white 1995 Lexus LS400 with a tan leather interior.  The dealer currently has
eight LS400s in stock, but none meeting the customer's specifications.
Instead of losing that sale, the Lexus dealer can check their extended
inventory (Manheim Online) to locate the exact vehicle needed.  The dealer
completes the deal, and allows the customer to drive a comparable car off the
lot for a few days until the white car arrives.

    About Manheim Online
    Manheim Online, an extended service of Manheim Auctions, is the world
leader in auto-related electronic commerce. Founded in 1945, Manheim Auctions
is a division of media company Cox Enterprises, and is the world*s largest
auction company with more than 70 auction locations throughout North America
and the United Kingdom. Manheim Online has been named one of the top 10
electronic commerce sites on the World Wide Web by PC Week magazine.
Additional information regarding Manheim Online and Manheim Auctions is
 available on the Internet at http://www.manheim.com.
    Manheim Auctions and Manheim Online are either registered trademarks or
trademarks of Cox Enterprises. in the United States and/or other countries.

SOURCE Manheim Auctions Inc.