Greg Manning Auctions Reports Strong Sales at Recent Bowers & Merena, Kohler and H.R. Harmer Auctions.

WEST CALDWELL, N.J. -- Company's Inaugural Auction in Hong Kong Scheduled for April 8-9, 2005

Greg Manning Auctions, Inc. (Nasdaq: GMAI) announced today its recent Bowers & Merena coin auction, held as the official exhibition auctioneer at the Baltimore Coin and Currency Show on March 10-11, 2005, realized total sales of $4.7 million. The Company's worldwide stamp auctions have also produced strong results, with an H.R Harmer auction posting $2.4 in sales on February 22-24, 2005.

In Europe, Kohler Auctions of Wiesbaden and Berlin realized $3.5 million between their January and March 2005 auctions, and Corinphila Auctions of Zurich, Switzerland conducted a single-owner auction that realized $1.1 million on January 15, 2005.

The Company's recently acquired John Bull Stamp Auctions in Hong Kong will hold its first sale under GMAI ownership on April 8-9, 2005. This inaugural auction, comprised of 1,630 lots, is expected to realize sales of more than $1 million, including a single-owner auction of the renowned Edward M. Gilbert Hong Kong collection. This auction is expected to be the strongest in John Bull's rich 30-year history.

Laurence Gibson, Managing Director of John Bull, also announced that Ian Hui has joined the firm and will manage the day-to-day operations in Hong Kong. Mr. Hui has more than 10 years experience in the auction field, with a strong background in Asian philately. Mr. Gibson stated, "We are extremely pleased that Ian has joined GMAI to manage our office in Hong Kong. Having spent many years in the business in Hong Kong, as well as the United States, Ian maintains strong relationships with collectors and dealers of Asian philately. He is well qualified to continue the superb tradition of customer service that is a hallmark of our company."

On April 7-9, 2005, Bowers & Merena will be the official auctioneer at an exhibition sponsored by the American Numismatic Association in Kansas City, MO. This auction is expected to realize sales in excess of $5 million. Greg Manning Auctions' quarterly sales of collections and dealers' inventories will include a seven-figure auction in June, following a March 19, 2005 sale that realized well over $2 million. In addition, Kohler Auctions in Germany and Corinphila in Switzerland have significant multi-million dollar auctions scheduled in May and June. In the U.S., a large 5,000+ lot Ivy & Manning stamp auction will be held on May 17-20, 2005. Nutmeg Stamp Sales have been offering more than 14,000 lots per month and are currently preparing a single-state revenue stamp auction comprised of more than 10,000 lots to be offered in June 2005.

Greg Manning, First Vice Chairman, CEO and President, commented, "Our fiscal third and fourth quarter activity is, as anticipated, extremely robust in both of our core competencies, coins and stamps, reflecting the strength of our overall business as well as the global marketplace. In addition to our live auctions, Internet-based coin auctions at Teletrade have continued their successful schedule of three auctions per week, with up to 1,000 lots per auction. Based on our recent and upcoming events, Greg Manning Auctions is well positioned for strong future growth. Our challenge today, which we are meeting successfully, is not selling material, but rather finding enough to satisfy the unprecedented demand for quality individual coins and stamps, as well as collections."

About Greg Manning Auctions, Inc.

Greg Manning Auctions, Inc. is a global collectibles merchant and auction house network, with operations in North America, Europe and Asia and on the Internet. This network was created in September 2003 when GMAI and Auctentia, S.L. effectively integrated their auction businesses, creating a GMAI-AUCTENTIA global collectibles auction network.

In North America, GMAI is a leading traditional and e-commerce - Internet, interactive telephone, and Internet and live simulcast - auctioneer and merchant/dealer of collectibles. Coins, stamps and sports cards are offered at www.gregmanning.com and www.teletrade.com. Its operations include the Greg Manning Auctions division, Ivy & Manning Philatelic Auctions, H.R. Harmer of New York, Greg Manning Galleries, Spectrum Numismatics, Teletrade, Nutmeg Stamp Sales, Superior Sports Auctions, Bowers & Merena Galleries and Kingswood Coin Auctions.

In Europe, the leading auction houses affiliated with the network are Auctentia Subastas of Madrid, Spain (operating under the name "Afinsa Auctions"); Corinphila Auktionen of Zurich, Switzerland (65% owned by GMAI); and the Koehler group of auction companies of Berlin (66.67% owned by GMAI) and Wiesbaden, Germany.

GMAI also owns GMAI Auctentia Central de Compras (CdC) of Madrid, Spain, which is engaged in the sale, marketing and production of owned and third-party collectibles, with an emphasis on specialized philatelic material.

Both GMAI and CdC currently act as exclusive supplier of collectibles - primarily stamps and coins - on a worldwide basis to Afinsa Bienes Tangible, S.A. of Madrid, Spain, one of the world leaders in marketing tangible investment products, and GMAI's majority shareholder.

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 GMAI's filings with the Securities and Exchange Commission, including GMAI's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, prospectuses and other documents that GMAI has filed with the Commission. In particular, any statement related to GMAI's expected revenues or earnings or GMAI's 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. GMAI 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.