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GREG MANNING AUCTIONS NAMES NEW PRESIDENT AND CHIEF FINANCIAL OFFICER

 MONTVILLE, N.J., Aug. 25 /PRNewswire/ -- Greg Manning Auctions, Inc. (NASDAQ: GMAI), a leading collectibles auction house, has selected Michael R. Haynes, 42, a senior executive with broad experience in financial services, retailing and auction fields, as president and chief financial officer of the company, it was announced today by Greg Manning, chairman and chief executive officer. The presidential position had previously been held by Mr. Manning.
 The company also announced that William T. Tully Jr., 47, executive vice president and secretary, would be given the additional titles of chief operating officer and treasurer. Robert Caruba Jr., 62, formerly held the positions of chief financial officer and treasurer, on a temporary basis, and has retired.
 Mr. Haynes had held presidential posts at three privately owned companies prior to joining Greg Manning Auctions. Most recently, he had served as president and chief financial officer of Guardian Technologies International, Inc., Sterling, Va., a manufacturer of life saving equipment for law enforcement and military use. Earlier, Mr. Haynes had been president and chief operating officer of A-Mark Precious Metals Inc., Los Angeles, a distribution and business services firm; and president, chief operating officer and chief financial officer of Heritage Capital Corporation, Dallas, a wholesale, retail and auction company of coins, stamps and precious metals.
 Mr. Haynes holds a B.S. degree in mechanical engineering and an M.B.A. degree from Southern Methodist University. He is accredited as a certified public accountant and a certified financial planner.
 Greg Manning Auctions, Inc. is one of the world's largest stamp auction houses. It also conducts auctions of other collectibles, including sports trading cards and sports memorabilia, bringing together buyers and sellers throughout the world. The company completed its initial public stock offering in May 1993. Its securities trade on NASDAQ under the symbols GMAIU, GMAI and GMAIW, and on the Boston Stock Exchange under the symbols GGMU, GGM and GGMW, for the company's units, common stock and warrants, respectively.
 -0- 8/25/93
 /CONTACT: Michael R. Haynes, president and chief financial officer, or William Tully, executive vice president and chief operating officer of Greg Manning Auctions, 201-299-1800/
 (GMAI)


CO: Greg Manning Auctions, Inc. ST: New Jersey IN: SU: PER

WB-MP -- NY020 -- 5762 08/25/93 10:26 EDT
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Publication:PR Newswire
Date:Aug 25, 1993
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