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Firm Named as an Official Auctioneer for Washington 2006 World Philatelic
Exhibition
WEST CALDWELL, N.J., Jan. 24 /PRNewswire-FirstCall/ -- Escala Group
(Nasdaq: ESCL) today announced that the firm has scheduled 20 major philatelic
auctions for the second half of the firms fiscal year, which ends on June 30,
2006. In addition, the company will conduct multiple auctions on May 29, 2006
as an official auctioneer for the Washington DC 2006 World Exhibition, being
held from May 27 through June 3. This international exhibition is anticipated
to be the most important philatelic event held thus far in the 21st Century,
and is expected to draw well over 150,000 visitors. Greg Manning Auctions was
the sole official auctioneer at the last international exhibition held in the
United States, the Pacific 97 World Exhibition, held in San Francisco at the
Moscone Center. The firms auctions at the 1997 exhibition realized in excess
of $10 million.
Greg Manning, President of the North American and Asian Philatelic Auction
Division, and First Vice-Chairman of Escala Group, stated, "The auctions we
have scheduled through June 30 are comprised of a number of the finest
collections in varied specialty areas that we have ever had the pleasure to
offer. A number of important philatelic estates have been consigned, as well
as gold-medal winning collections from consignors who wish to have the
pleasure of a one-owner, full color "name" catalogue highlighting their
lifetime achievements in philately."
Escala Groups major auctions in January 2006 include an auction conducted
by Heinrich Koehler in Wiesbaden, Germany from January 25-28, comprising 6,000
lots of worldwide stamps and postal history and estimated to realize $2
million. On February 11 & 12 in Hong Kong, John Bull Auctions, Ltd. will
conduct a 1,700-lot auction of Asian material carrying a pre-sale estimate of
just over $1 million. Greg Manning Auctions will sell over 1,000 intact
stamp collections on March 18 in an exceptional sale expected to realize $2.7
million; and H.R. Harmer of New York will conduct 3 auctions: a U.S. and
general worldwide auction estimated at $1.1 million; a one-owner specialized
Washington-Franklin U.S. stamp collection, "The Georgetown Collection," which
carries a pre-sale valuation of $250,000; and a magnificent collection of the
postal history of Puerto Rico formed by Don Gaspar Roca, and estimated to
realize in excess of $550,000.
"Regarding our involvement at the Washington DC 2006 World Exhibition, our
auctions will include the Crescent City Collection of rare United States
stamps, the superb Worldwide Classics holding formed by the late Sima &
Michael Axelrad, and an exceptional one-owner auction of the stamps and postal
history of the Dominican Republic, as well as an auction comprised of selected
rarities from around the world. Escala Group will have a major presence at
the exhibition, which will include two superbooths, with representatives from
our North American, Asian and European philatelic houses in attendance," added
Mr. Manning.
"Our firms strong financial picture, plus our worldwide venues, continues
to attract more consignments, and certainly our position as one of the worlds
leading philatelic auction house has been greatly augmented by the
acquisitions completed over the last three years," continued Mr. Manning. "We
look forward to the next six months important auctions."
ABOUT ESCALA GROUP
Escala Group is a global federation of leading companies in the
collectibles market with operations in North America, Europe and Asia as well
as on the Internet. The company operates through a number of subsidiaries that
specialize in various sectors of the collectibles markets, and is comprised of
three business areas: auctions, merchant/dealer operations and trading.
Escala Groups North American operations include Greg Manning Auctions
division, Ivy & Manning Philatelic Auctions, Greg Manning Galleries, Greg
Martin Auctions, Spectrum Numismatics, Teletrade, Nutmeg Stamp Sales, Superior
Sports Auctions, Bowers and Merena Auctions, and Kingswood Coin Auctions, and
H.R. Harmer. In Europe, the leading auction houses affiliated with the network
are Auctentia Subastas (Afinsa Auctions) of Madrid, Spain, Corinphila
Auktionen of Zurich, Switzerland, and the Koehler group of auction companies
of Berlin and Wiesbaden, Germany. In Asia, Escalas auctions operations are
conducted through John Bull Stamp Auctions, Ltd, the oldest philatelic auction
house in Hong Kong.
Merchant/dealer activities are conducted through Greg Manning Auctions and
GMAI-Auctentia Central de Compras of Madrid, which act as exclusive suppliers
of collectibles -- primarily stamps and coins -- on a worldwide basis to
Afinsa Bienes Tangibles, S.A. of Madrid, Spain, and through Spectrum
Numismatics International, one of the largest wholesalers of rare coins in the
U.S. Afinsa is Escala Groups majority shareholder.
The trading activities of Escala Group are conducted through A-Mark
Precious Metals, one of the largest private sellers of bullion coins and
bullion gold, silver and platinum to the wholesale marketplace.
Statements in this press release that relate to future plans, objectives,
expectations, performance, events and the like are "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995 and the Securities Exchange Act of 1934. Future events, risks and
uncertainties, individually or in the aggregate, could cause actual results to
differ materially from those expressed or implied in these statements. Factors
that may cause such differences include changes in market conditions, changes
in economic environment, competitive factors and the other factors discussed
in the "forward-looking information" or "risk factors" sections included in
Escala Groups filings with the Securities and Exchange Commission, including
Escala Groups Annual Report on Form 10-K, Quarterly Reports on Form 10-Q,
prospectuses and other documents that Escala Group has filed with the
Commission. In particular, any statement related to Escala Groups expected
revenues or earnings or Escala Groups being well positioned for future
profitability and growth are forward-looking statements.
The words "should," "believe," "estimate," "expect," "intend,"
"anticipate," "foresee," "plan" and similar expressions and variations thereof
identify certain of such forward- looking statements, which speak only as of
the dates on which they were made. Additionally, any statements related to
future improved performance and estimates of revenues and earnings per share
are forward-looking statements. Escala Group undertakes no obligation to
publicly update or revise any forward-looking statements. Readers are
cautioned not to place undue reliance on these forward-looking statements.
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