In Progress!!!!
(COMTEX) B: ADVISORY/Press Conference to be Held 10 A.M. EST KCSA Pub
B: ADVISORY/Press Conference to be Held 10 A.M. EST KCSA Public Relations
Worldwide; Greg Manning Auctions Delivers High-Quality Images for Internet
Auctions
WEST CALDWELL, N.J. (Dec. 17) BUSINESS WIRE -Dec. 17, 1998-- New AT&T
Labs Technology Brings Better Pictures, Faster Downloads
---MEDIA ALERT---
PRESS CONFERENCE TO BE HELD 10 A.M. EST
KCSA PUBLIC RELATIONS WORLDWIDE
800 SECOND AVENUE
NEW YORK, NY 10017
Greg Manning Auctions, Inc. (NASDAQ: GMAI) announced today that it will
use new image compression technology developed by AT&T Labs for
real-time auctions on the Internet.
As a result of this technology, called DjVu, GMAI will be able to
deliver very high-quality images on the Internet at significantly
faster download times as well as allow customers to zoom in on images.
DjVu has image compression ratios up to ten times greater than existing
technologies.
Recently, GMAI announced that it had acquired Teletrade, Inc., making
GMAI the first publicly owned company to operate real-time Interphonic
auctions simultaneously over the Internet and via telephone. Similar in
business to eBay (NASDAQ: eBAY) and ONSALE (NASDAQ: ONSL), GMAI
specializes in stamps, coins, sports cards, memorabilia and diamonds.
Unlike many Internet auction companies, Teletrade guarantees all
consignor payments and has a no-risk immediate refund return policy
which is also guaranteed by the Company.
Yann Le Cun, Department Head of Image Processing Research at AT&T Labs,
said, "Our image compression technology is perfectly suited for viewing
high-end auction products and collectibles on the Internet. Our
improved images and rapid downloading will greatly enhance today's
Internet auction experience. GMAI is clearly a step ahead in the
Internet auction business by adopting AT&T Labs' new technology."
Greg Manning, Chief Executive Officer of GMAI, stated, "Until now,
auction customers not only have been concerned about the quality and
authenticity of objects being offered on the Internet but have been
impeded by the slowness of image downloads. Now we can offer our more
than 50,000 auction clients access to high-quality, full-color images
on the Internet in less time than is presently possible. In addition,
the technology will enable our customers to zoom in on images on which
they are interested in placing a bid, in order to take a high
definition look at the object."
DjVu will become available at www.teletrade.com in several weeks. In
the meantime, the technology can be viewed at
djvu.research.att.com.
AT&T Labs, the research and development unit of AT&T (NYSE:T), is
working to create the information services and communications network
of the twenty-first century. AT&T Labs is a leader in the development
of technologies and standards for audio, speech, video and image
processing; electronic commerce and digital copyright management;
search and directory services; network architecture, design,
engineering and operations; and other technology areas critical to the
advancement of new and existing telecommunications and Internet
services.
Greg Manning Auctions , Inc. is the nation's leading stamp auction
house and one of the largest specialty stamp auction houses in the
world. Teletrade, a wholly owned subsidiary, pioneered interactive
telephone auctioning and is a leading Internet auctioneer of coins,
diamonds, sports cards and memorabilia. Teletrade is the first publicly
owned auction company to operate real-time Interphonic auctions
simultaneously over the Internet and via telephone, while providing
confidential transmission of bidder and seller information over the
Internet. Greg Manning Auctions, Inc. common stock is traded on the
NASDAQ SmallCap system under the symbol GMAI, and on the Boston Stock
Exchange under the symbol GGM.
This press release contains statements of a forward-looking nature
relating to future events. Shareholders are cautioned that such
statements are predictions and that actual events or results may differ
significantly.
This release is available on the KCSA Worldwide Website at
www.kcsa.com.
-0- bk/ny*
CONTACT: Gregg Manning Auctions, Inc., West Caldwell
James Smith, Chief Financial Officer
973/882-0004
or
KCSA, New York
Jeff Corbin/Joseph A. Mansi
212/682-6300, ext 214/205
KEYWORD: NEW JERSEY
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED
INTERACTIVE/MULTIMEDIA/INTERNET RETAIL ADVISORY Today's News On The
Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
*** end of story ***
|
