Budget Group Granted Approval of Amendment to Revolving Credit Facility

    LISLE, Ill., Feb. 16 Budget Group, Inc.,
announced today that the Company's lender group has approved, effective
February 9, 2001, an amendment to its revolving credit facility maturing in
2003 which restores availability up to $550 million.
    Additionally, in conjunction with the approved amendment Budget Group will
exercise its option causing a deferral of dividend distributions on its trust
preferred securities (High Tides(SM)).  This deferral is limited to the High
Tides and does not impact the Company's other debt obligations.
    Approval of this amendment is the first of a multi-step fleet financing
plan underway to fund the needs of the Company in 2001 and beyond.  The
revolving credit facility is used primarily to provide credit enhancement for
the company's fleet borrowings.  There is no outstanding balance on the
facility.
    Budget Group, Inc. owns Budget Rent a Car Corporation and Ryder TRS, Inc.
Budget is the world's third largest car and truck rental system and Ryder TRS
is the nation's second largest consumer truck rental company.  For more
information, visit the Company's Web site at http://www.budget.com .
    Statements made in this press release that are not historical in nature
may include 'forward-looking statements' within the meaning of the federal
securities laws.  It is important to note that these statements may involve a
number of risks, uncertainties and other factors, including requirements to
secure other additional financings in order to fully utilize the credit
facility, and compliance with other customary conditions that could cause
Budget Group, Inc.'s actual results to differ materially from such
forward-looking statements. Additional information is contained in the
Company's Annual Report on Form 10-K for the year ended December 31, 1999,
Form 10-Q for the third quarter ended September 30, 2000, and other documents
filed by the Company with the SEC, all of which are available from the SEC.