Ian Russell Named Teletrade President

(Irvine, CA) – Pioneering Internet auction service, Teletrade, has announced the promotion of e-commerce veteran, Ian Russell, to be President of the company effective June 1, 2005. He previously served as Executive Vice President, and has been a marketing consultant to Teletrade’s parent company, Greg Manning Auctions, Inc. (NASDAQ: GMAI) since 2000.

“The number of coins offered on Teletrade has expanded by about 30 percent in recent months, and we also are increasing the diversity and range of the offerings while maintaining excellent customer service. We now are offering 25,000 certified coins each month,” said Russell.

Teletrade conducts an average of three Internet auctions of certified U.S. coins each week, with special monthly and quarterly sales. Over 100,000 collectors, dealers and investors have registered on the free, easy-to-use web site, www.Teletrade.com.

“Ian has successfully initiated many e-commerce projects for Teletrade, including the Mr. Wantlist concept, and has managed key aspects of marketing, operations and technology in rare coin sales as well as other collectibles,” said Greg Manning, First Vice Chairman, CEO and President of Greg Manning Auctions, Inc.

Russell was responsible for “KISS The Auction,” the multi-million dollar memorabilia auction conducted in June 2000 by Greg Manning Auctions, Inc. in conjunction with Butterfields. He also worked for Auctentia, a Greg Manning company based in Madrid, Spain, gaining experience in the European collectible and tangible asset markets.

Prior to joining Greg Manning Auctions, he worked from 1995 until 1999 for Stanley Gibbons in Australia as a philatelic buyer and appraiser. He handled many important philatelic sales including the Purcell Collection of Kangaroo and Map Series; The Mackey Collection of Australian States/Pacific Islands; and the Morrison Hill China Collection that set the record price for a foreign stamp sold in Australia with the famous and rare Sun Rays Issue. Russell also put together the company’s first paper money auction featuring one of the finest New Zealand bank note collections.

Russell resides in Southern California, and is an avid traveler who enjoys listening to ‘80s pop music. And, says Russell, “I play way-too much squash for my own good!” For additional information, contact Ian Russell at Teletrade at 18022 Cowan, Suite 107, Irvine, CA 92614-6805. Phone: (800) 949-2646. E-mail: [email protected].