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Manheim Acquires Indianapolis Auction Location from ABC

June 30, 2006 - Press Release

ATLANTA -- Manheim has purchased an Indianapolis, Ind., auction location from Auction Broadcasting Company, LLC (ABC), company executives recently announced.The 86-acre auction location, which was built about six years ago, serves an extensive base of new and used car dealers across the Midwest, and is also known for its large, indoor specialty sales including BMW motorcycles and Honda powersports products. The six-lane auction location is capable of handling heavy duty trucks and is complete with a full reconditioning facility. "The Indianapolis facility is in great shape, which will lead to a smooth transition for Manheim and our customers," said Dean Eisner, Manheim president and CEO. "In addition to the new and used car dealer business, specialty and truck sales are becoming a larger part of our live auction business, and that was an attractive feature of this particular location. We will build on those strengths and customize the facility with Manheim Simulcast in the lanes, wireless technology to support condition reporting and other aspects of our operations, and the complete Manheim operating systems and processes so that Indianapolis operates at the same standards our customers expect at any Manheim sale."The acquisition is the third new auction location for Manheim in as many months. In May, Manheim announced the purchase of the Auction City Inc. - Halifax auction in Halifax, Nova Scotia, which has been renamed Manheim's Auction City - Halifax. Also in May Manheim acquired Southwest Florida Auto Auction in Fort Myers, Fla.All of the roughly 140 employees at the Indianapolis auction location are expected to join Manheim. With the addition of this Indianapolis facility, Manheim now has three operating locations in Indiana, including Fort Wayne Vehicle Auction in Fort Wayne and Louisville Auto Auction in Clarksville. The company has 89 operating locations in North America. 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.
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