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To: John F. Poteraske who wrote (567)	9/11/1997 4:50:00 PM
From: ted birnbaum	of 897

* NEWS GMAI * 10 Thursday September 11 12:44 PM EDT Company Press Release Source: Greg Manning Auctions, Inc. Afinsa Purchases 10% of Greg Manning Auctions, Inc. WEST CALDWELL, N.J., Sept. 11 /PRNewswire/ -- Greg Manning Auctions, Inc. (Nasdaq:GMAI) announced today that Afinsa Bienes Tangibles S.A. (Afinsa) of Madrid, Spain, has increased its holdings to 442,000 shares, or 10% of the outstanding shares of GMAI, based on certain filings with the Securities and Exchange Commission. Greg Manning, chairman and chief executive officer of GMAI stated, ``We are pleased to announce that the Chairman of Afinsa, Mr. Albertino de Figueiredo, has agreed to fill a vacancy on the GMAI Board of Directors. Mr. de Figueiredo founded Afinsa in 1980 and under his tenure Afinsa has, we believe, become the world's largest philatelic company.''

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