SOURCE: Manchester, Inc.

May 03, 2007 09:45 ET

Taglich Brothers Initiates Coverage on Manchester, Inc.

NEW YORK, NY -- (MARKET WIRE) -- May 3, 2007 -- Taglich Brothers, Inc. announces it initiated coverage of Manchester, Inc. (OTCBB: MNCS).

Manchester, Inc. (OTCBB: MNCS), headquartered in Dallas, Texas, retails used vehicles through nine automobile lots in Georgia (4) and Tennessee (2) operating as "Nice Cars," and Indiana (3) operating under the name "Freedom Auto Sales." The company operates on a "Buy-Here/Pay-Here" basis; sales, credit application and processing, and collections are all handled at the point of sale. The company extends financing through its own financing arm. Most of its customers are of limited means and have weak credit histories.

The company aims to pursue a strategy of "rolling up" Buy-Here/Pay-Here dealerships and selling the acquired receivables portfolios and receivables generated from ongoing retail operations. These receivables will be sold through a financial intermediary, the company's line of credit lender, which will bundle some of the receivables into securities (securitization) to be sold on the financial markets.

The complete 17-page report is available at

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    Rick Oh
    Taglich Brothers, Inc.