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Manheim Auctions Makes First Move Into Continental Europe

8 February 1999

Manheim Auctions Makes First Move Into Continental Europe; Moves Across the Channel with Acquisition of French Auction Group SEA

    ATLANTA, Feb. 8 -- Manheim Auctions, Inc., the world's
largest operator of wholesale automobile auctions, announced Saturday at NADA
their expansion onto the Continent from its European base in the UK with the
acquisition last week of a French group, Societe d'Expertise Agenaise (SEA).
With sites in Bordeaux, Marseilles and Toulouse, SEA is one of only three
auction groups in France.  It provides auction services and facilities to many
of the major vehicle leasing companies and dealers throughout the country, and
has a strong presence in each of its local markets.  The acquisition brings
Manheim's total European auction locations to 20.
    "We studied the vehicle auction market in every European country with an
eye to expansion beyond our sites in the UK," said Dennis Berry, president of
Manheim.  "We identified France as a key market with a young auction industry
that can be developed into a comprehensive offering for dealers, fleets, lease
and rental companies, and manufacturers.  As another factor in our growth
strategy, the European Union is considered favorable to Europe's used car
market."
    Manheim will retain SEA staff and introduce systems and standards in
common throughout the group.  Future plans for the French market include
further expansion, acquisitions and, where appropriate, new start-ups.
Alan Agate, currently a Regional Operations Director of Manheim UK, has been
named General Manager of Manheim's French auctions and will report to John
Bailey, Managing Director of the UK Group.
    Agate will be based at SEA's headquarters in Toulouse, and will work
closely with former SEA owners Charles Marquis and William Adams to expand the
network to other major markets in France.
    Manheim's growth in Europe has been rapid.  In July 1996, the company
formed a joint venture with the Bailey family, owners of Independent Car
Auctions (ICA) in the UK, which provided two locations.  That same year,
Manheim purchased the controlling share in Central Motor Auctions Plc., the
UK's second largest auction group, followed in December 1997 with the
acquisition of BRS Car Auctions.  Most recently, Manheim acquired the UK's
third largest auction group, National Car Auctions.  This two-year expansion
program has yielded 17 auction centers with 1500 employees handling over
500,000 vehicles worth in excess of $2 billion annually.

    About Manheim Auctions
    Founded in 1945, Manheim Auctions, Inc., (http://www.manheim.com) is the
world's largest operator of wholesale automobile auctions with 83 locations in
North America, the United Kingdom and France.  In 1998, Manheim offered for
sale more than 6.5 million vehicles.  The actual value of vehicles sold was in
excess of $35 billion.  Manheim is a leader in automotive Internet commerce as
a supplier of web sites and transaction services to auto remarketers.  In
1998, the value of vehicles sold via Manheim's wholesale CyberLots totaled
more than $216 million.  Manheim also provides vehicle reconditioning and
certification, an Internet-based vehicle value guide, dealer floor plan
financing, dealer business software and government auction services.  Manheim
is a partner with the Dealer Services Division of Automatic Data Processing
(ADP), offering free Internet used car listings to dealers and consumers via
AutoConnect, the world's largest source of used car classified advertising
(http://www.autoconnect.com).
    Manheim is a subsidiary of Cox Enterprises, Inc.  In addition to Manheim,
Cox includes Cox Newspapers, Inc., Cox Broadcasting, Inc., and publicly traded
Cox Communications, Inc. and Cox Radio, Inc.  Cox Enterprises also provides
online news, information and entertainment services via the Internet through
Cox Interactive Media.