NEW YORK, May 13 /PRNewswire-FirstCall/ -- Escala Group today corrects a misstatement in a Reuter's article. Escala's stamp businesses in auctions and sales of inventory, as are its other businesses in coins and art and antiques, continue to operate uninterrupted as they did prior to the investigation of Afinsa by Spanish authorities. Escala has a strong quarter lined up in auctions, with a special emphasis in stamps, and the Company remains committed to all our business segments.
As stated during the Company's third quarter conference call on Wednesday, May 10th, Escala's philatelic companies will attend the Washington 2006 World Philatelic Exhibition on May 27th through June 3rd. In conjunction with this event, H.R. Harmer and Greg Manning Auctions will collectively conduct four auctions over the course of Monday, May 29th and Wednesday, May 31st as previously announced.
Also in the fourth quarter, Greg Martin Auctions in Escala's Art and Antiques division will hold its Antique and Collectible Arms and Armor auction on June 26th and 27th as previously scheduled. Bowers and Merena, our auction house specializing in high-end, rare coins, will hold its next auction on May 26th in Anaheim, California.
About Escala Group, Inc.
Escala Group is a global network of leading companies in the collectibles market with operations in North America, Europe and Asia as well as on the Internet. The company operates through a number of subsidiaries that specialize in various sectors of the collectibles markets, and is comprised of three business areas: auctions, merchant/dealer operations and trading.
Escala Group's North American auction and retail operations include Greg Manning Auctions division, Ivy & Manning Philatelic Auctions, Greg Manning Galleries, Greg Martin Auctions, Teletrade, Nutmeg Stamp Sales, Superior Sports, Bowers and Merena Auctions, North American Certified Trading, and H.R. Harmer. In Europe, the leading auction houses affiliated with the network are Auctentia Subastas (Afinsa Auctions) of Madrid, Spain; Corinphila Auktionen of Zurich, Switzerland; and the Koehler group of auction companies of Berlin and Wiesbaden, Germany. In Asia, Escala Group's auction operations are conducted through John Bull Stamp Auctions, Ltd, the oldest philatelic auction house in Hong Kong.
Merchant/dealer activities are conducted through Greg Manning Auctions and Central de Compras Coleccionables, S.L. of Madrid, and through Spectrum Numismatics International, one of the largest wholesalers of rare coins in the U.S.
The trading activities of Escala Group are conducted through A-Mark Precious Metals, one of the largest private sellers of bullion coins and bullion gold, silver and platinum to the wholesale marketplace.
SAFE HARBOR
Statements contained in this presentation that relate to future plans, objectives, expectations, performance, events and the like are "forward- looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results to differ materially from those expressed or implied in these statements. Factors that may cause such differences include changes in market conditions, changes in economic environment, competitive factors and the other factors discussed in the "forward-looking information" or "risk factors" sections included in ESCL's filings with the Securities and Exchange Commission, including ESCL's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, prospectuses and other documents that ESCL has filed with the Commission. In particular, any statement related to ESCL's expected revenues or earnings or ESCL's being well positioned for future profitability and growth are forward-looking statements.
The words "should," "believe," "estimate," "expect," "intend," "anticipate," "foresee," "plan" and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made. Additionally, any statements related to future improved performance and estimates of revenues and earnings per share are forward-looking statements. ESCL undertakes no obligation to publicly update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.
(ESCL)
