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Executive Offices of Avis' Vehicle Management Business Relocate

5 July 1999

Executive Offices of Avis' Vehicle Management Business Relocate to Garden City, New York

    GARDEN CITY, N.Y., July 2 -- Avis Rent A Car, Inc.,
today announced that the executive offices of its newly acquired
vehicle management business have been relocated from Hunt Valley, Maryland to
Avis World Headquarters located in Garden City, New York.  The Company will
continue to maintain its vehicle management operations in Hunt Valley to
service its clients.
    On June 30th, Avis completed its transaction to acquire the vehicle
management and fuel card businesses from Cendant Corporation.
    Avis Rent A Car, Inc., is one of the world's leading providers of
comprehensive automotive transportation and vehicle management solutions, with
strengths in car rental, vehicle leasing, and vehicle management services.
The Company operates the second largest general-use car rental business in the
world, with locations in the United States, Canada, Australia, New Zealand and
the Latin American Caribbean region.  Avis also operates vehicle management
and fuel card businesses.  The services of these units consist of vehicle
leasing and a broad range of vehicle related fee based services.  Combined,
the Company manages a fleet of approximately 1 million vehicles and has over
3.6 million fuel and maintenance cards outstanding.  For the twelve months
ended March 31, 1999, the newly combined companies would have generated
$4.0 billion of total revenue and EBITDA of $353 million.
    For corporate background information and recent news releases, please log
onto the Avis Web site at http://www.avis.com or call Company News at
800-758-5804, access code #078975.