Seattle-Based Flexcar Acquires CarSharing Portland

    SEATTLE, April 20 /PRNewswire Interactive Press Release/ -- Flexcar, a
Seattle-based company that offers shared access to vehicles, has acquired its
Portland, Ore. counterpart, CarSharing Portland, the company announced this
week at the North American Shared Car Conference in Atlanta.  Terms of the
transaction were not disclosed.
    Flexcar, the largest car sharing company in the U.S., is the first car
sharing company to expand to a second city. According to Flexcar CEO
Neil Peterson, the Portland acquisition is the first in a series of major
expansions planned nationwide for the rapidly growing company. Flexcar has
grown to 40 cars and more than 1,300 members since it launched 15 months ago.
The acquisition brings the total number of cars to 65 with more than
1,800 members in Portland and Seattle. The expanded Flexcar service will give
Portland and Seattle members access to vehicles in both cities. "After a
successful beta test in Seattle, we're on track to take our concept to other
cities," Peterson said.
    Peterson is excited to be associated with the Portland operation, headed
by Dave Brook, "a leader in the industry" who will continue to direct the
Portland operation.
    "This acquisition is very good for Portland and will enable the program to
grow substantially as we continue to promote new mobility options," Brook
said. "The car sharing program is a natural connection between Portland and
Seattle and will benefit members in both cities by providing greater access to
shared vehicles."

    About Flexcar
    Established in January 2000, Flexcar is a membership-based car sharing
service marketed to individuals, businesses, and government organizations.
Flexcar members have joint access to a fleet of vehicles owned or leased by
the company and dispersed throughout targeted urban residential and business
neighborhoods. Members use the vehicles only when they need them, and pay for
them only when they use them. The service allows people to have the freedom
and flexibility afforded by access to a vehicle, without having to pay the
high costs of vehicle ownership.

    About CarSharing Portland
    Launched in March 1998, CarSharing Portland is the first car sharing
service in the U.S. CarSharing Portland has continued to grow consistently
with several hundred members and 25 vehicles at 23 different locations
throughout neighborhoods in and around downtown Portland.

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