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Ceccoli to Retire From Day-To-Day Operating Responsibilities at Manheim

November 18, 2002

Manheim Auctions announced that Darryll Ceccoli, chief operating officer, has decided to retire from his day-to-day operating responsibilities at year-end. He will continue to lead the dealer sales initiative and will join the newly formed Manheim Board of Advisors.

"The continued strategic input and direction Ceccoli will provide is seen as a valuable continuity for the Manheim organization. I look forward to continuing to work with him in his new role," said Dean Eisner, president and chief executive officer of Manheim Auctions. "Many of our long-term initiatives - dealer sales, best practices and career development – have been developed by our executive team in sessions much like those I anticipate with the Manheim Advisory Board."

Ceccoli's career with Manheim spans three decades, many regions of the country and a tremendous evolution in the wholesale automobile auction industry. When Ceccoli joined Manheim in May 1975 as assistant general manager of National Auto Dealers Exchange in Bordentown, N.J., the company had 12 auctions in the eastern part of the United States, 2,500 employees and handled almost 360,000 vehicles a year. Today, Manheim has 83 auctions throughout the United States and two auctions in Canada, 32,000 employees and handles 10 million vehicles annually. Manheim also manages operations in the United Kingdom, France, Australia and New Zealand.

"It has been my honor and privilege to work for Manheim for 27 years," said Ceccoli. "The magic of Manheim has always been its people – taking care of dealers, taking care of each other and caring about the communities they serve. I look forward to my new role in the organization - one that will give me more time to pursue personal interests while staying close to the people who have meant so much to me over the years."

"My family has been very appreciative of the contributions Darryll has made to our business," said Jim Kennedy, chairman and chief executive officer of Cox Enterprises, parent company of Manheim. "When we think of Darryll we think of his unparalleled experience in the industry, his enthusiasm for the business and his deep commitment to the company and its employees."

"By the time I joined Manheim, Darryll and his management team already had built a national franchise," said Dennis Berry, president and chief operating officer of Cox Enterprises. Berry served as president and chief executive officer of Manheim from 1995 to 2000. "His wisdom and leadership guided this company through many years of significant growth. He developed talent among Manheim's employees, inspiring their loyalty and challenging them to extend their best, year after year."

"In the years I've worked with Darryll, I've come to admire his understanding and vast knowledge of the business," said Eisner. "Our company has prospered under his leadership, and I feel privileged to have had the opportunity to work with him. Darryll has been a valuable guide and I believe in his insights and vision for the company.”

Ceccoli is a member of the National Auto Auction Association (NAAA) and a member of the NAAA Hall of Fame. He is also a member of the National Auctioneers Association and is a licensed auctioneer.

"There is no one in the industry like Darryll Ceccoli," said Ray Nichols, immediate past president of the National Auto Auction Association. "He always has been dedicated to the industry, operating under the philosophy that what is good for the auto auction industry is good for Manheim and the auctions as well as setting the standard for other industry leaders."

Porter Named Executive Vice President of Operations

Jamie Porter, most recently senior vice president of operations reporting to Ceccoli, has been named executive vice president of operations reporting to Eisner. "Jamie has repeatedly proven himself to be a leader in his 20-plus years with Manheim," said Ceccoli. "I have worked side-by-side with him for a number of years and am confident in his capabilities and the leadership he has shown the past couple of years,

overseeing the auctions, reconditioning operations and sales."

After graduating from college, Ceccoli worked in the automobile and auction businesses. He spent several years with an independently owned auction company in central Pennsylvania before joining Manheim in May 1975 as assistant general manager of National Auto Dealers Exchange. In 1979, he was promoted to general manager of the auction.

Ceccoli joined the corporate staff as executive vice president and chief operating officer in July 1982. In 1991, Ceccoli was named president and chief executive officer. That same year, Manheim, which had 26 auctions, merged with GE Capital Auto Auctions, bringing the company's total facilities to 46 and making Manheim the largest auction group in the world. In 1995, he assumed the role of chief operating officer, taking on the operating responsibilities for which he has a passion and overseeing

further expansion.

Porter began his auction career in 1976, when he joined 166 Auto Auction, an independent in Springfield, Mo. He was named general manager of the auction in 1988. That same year, Manheim purchased 166 Auto Auction, and Porter continued as general manager. In 1993, he transferred to Kansas City Auto Auction in Kansas City, Mo., where he served as general manager for three years.

In 1996, Porter joined Manheim's corporate staff as vice president of operations, region III. In 1999, he was named vice president of reconditioning operations. In this position, he helped develop the Manheim Certified Program and Post-sale Inspection Program. In October 2000, Porter was promoted to senior vice president of sales and

reconditioning, a position he held until being named senior vice president of sales and operations in January 2002.

About Manheim

Manheim Auctions offers services that impact every stage of a used vehicle’s life cycle. These include transaction, reconditioning and certification services, managed remarketing, end-of-lease-term management services, vehicle transportation, dealer floor planning, retail inspection and government auction services. The company also assists auto manufacturers, fleet and lease companies, banks and other financial institutions in selling their used vehicle inventories.

A wholly owned subsidiary of Cox Enterprises, Inc., Manheim Auctions has more than 32,000 employees at its 124 auctions and related businesses. Manheim is a global remarketing organization with 85 auctions in North America and additional operations in France, the United Kingdom, Australia and New Zealand. In the year 2001, the company auctioned more than 9.5 million vehicles at its North American auctions.

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