Press Release - January 24, 2000

New Format Augments $40 Million in 1999 Rare Coin Auction Sales.

Majority of Bidders Successful In Heritage's New Exclusively Internet™ Auctions

Dallas, Texas: "In the first four months of our Exclusively Internet™ auctions, an astonishing 65% of bidders have been successful on at least one lot - racking up sales exceeding $700,000," reported Holli Hughes, Heritage's E.I. Coordinator. Heritage, the world's largest rare coin dealer and auctioneer, created the new category of weekly auctions last September at "Our rapid growth is also attracting attention from consignors. One dealer offered to fill every sale from his inventory! We thanked him, but prefer a diversity of coins from many dealers and collectors."

According to Co-Chairman Jim Halperin, the Internet's role in Heritage's success is expanding. "When we released our Interactive Internet™ software in March, we knew bidding in our Signature Sales™ and Bullet Auctions™ would be popular; indeed, we've averaged over $3 million in Internet bids in recent sales, buying as much as 25% of the sale. We must close Internet bidding before our public auction sessions, so many high Internet bids are outbid by floor bidders. To address such disappointments, we created a new auction category for our Web bidders: Exclusively Internet™, with no floor action."

Added Brian Shipman, Heritage's Chief Internet Officer, "All Heritage auctions use the exact same software, including the same passwords, so familiarity gives our Web bidders the confidence to participate immediately. A new E.I. sale opens every Wednesday and closes every Tuesday. Bidders enjoy the full-color photographs and expert cataloging, and knowing the status of their bids at all times has made it easy to win. With sell-through rates as high as 95%, consignors are very happy."

With annual sales approaching $200 million, and auction revenues exceeding $40 million, Heritage is headquartered at 100 Highland Park Village, 2nd Floor, Dallas, Texas 75205, 1-800-872-6467

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