Manheim Asia Pacific Wins 'Service Provider of the Year' at the Asia Insurance Industry Awards

DUBAI, United Arab Emirates, November 16 - Bangkok - Manheim Asia Pacific has been awarded "Service Provider of the
Year" at the prestigious Asia Insurance Industry Awards 2009.

The award was accepted by Simon Moran, Vice President of Manheim Asia
Pacific.

"The Asia Insurance Review is the region's preeminent publication and
trusted journal of the Insurance community and we are honoured and delighted
to win this prestigious award. It is an outstanding recognition for the
company which commenced operations in Thailand in 2001. Since then, we have
worked hard to set new standards for service levels in the industry and the
award is fantastic recognition of our success. I would like to thank all our
staff for their professionalism and dedication to customer service excellence
that has made this achievement possible."

Manheim Asia Pacific was selected from a number of high profile companies
competing for the honour of receiving the award. Introducing a new standard
for auto insurers' resale of salvage units in Thailand, the firm has
successfully reduced losses for insurers and was recognised for making an
outstanding contribution for insurers across Thailand.

Manheim has responded to the needs of the market it serves by providing a
dedicated salvage auction for the resale of accident-damaged vehicles.
Finely-tuned marketing and a thorough understanding of parts, wrecking and
repair markets have led to a significant reduction in losses for the insurer,
the judging panel noted.

Around 70% of insurers in Thailand now use Manheim Thailand for their
resale of salvage units. Direct sales of salvage units to a limited number of
buyers via methods such as tender, lucky draw, and private and contractual
agreements are in the process of being dismantled.

By introducing these services, Manheim has reset the industry pricing
structure for the resale of salvage in Thailand. Many buyers were excluded
from previous sales methods due to the size and dominating nature of some
wholesalers and parts wreckers. Insurers in Thailand were paying 30%
pre-accident value for any vehicle deemed written off. With its
implementation of remarketing systems, Manheim has delivered an average of
43% in 2008, and 42% year-to-date 2009. The initiative accounts for almost
100% growth in returns for insurers for the sale of accident-damaged
vehicles.

Under the scheme, auction efficiency is upwards of 80% sold per event,
with large crowds of buyers in attendance both at the auctions or online.
Manheim offers flexibility for sellers through the availability of online
sales channels for vehicles in remote locations where transportation costs
may outweigh asset value.

Funds are collected by Manheim in three business days and paid to
insurers in four working days. Coupled with savings from land and storage
costs and decreased theft of parts due to differing standards of security,
Manheim has made an outstanding contribution for all insurers in the country.

About Manheim Asia Pacific

Manheim Asia Pacific is part of the Manheim group of companies and
benefits from belonging to an organisation with over 60 years of remarketing
experience. Manheim Asia Pacific can support customers in Thailand with all
their used vehicle remarketing needs and can offer tailor made remarketing
and logistical solutions.

Manheim Asia Pacific offers a breadth of services, including
transportation co-ordination, secure storage with 24/7 security, valuation
prior to sale, national remarketing, voice auction and online sales,
collection of proceeds, reconciliation of tax commitments to local
authorities, remittance of funds for auto salvage in Thailand, results
analysis and consulting, and disaster recovery services.

Globally, Manheim has 135 operating locations in 19 countries and in 2009
will handle some twelve million vehicles facilitating transactions worth an
estimated 60 billion dollars.

www.manheimthailand.com

    For further information please contact:

    Simon Moran
    Vice President Manheim Asia Pacific
    Telephone: +66-2-329-1155
    Mobile: +66-898-131-606

Simon Moran, Vice President Manheim Asia Pacific, Telephone: +66-2-329-1155, Mobile: +66-898-131-606