ANC Announces Closure of Charlotte Reservation Center; Sharp Reductions in Travel and Softening Economy Prompt Closing

    FORT LAUDERDALE, Fla.--Oct. 19, 2001--In the wake of the tragic September 11 events and the corresponding impact on the travel industry, ANC Rental Corporation today gave 60 days notice of its intention to close its Charlotte, North Carolina reservation center, which currently employs approximately 260 people. This notification is in keeping with the Worker Adjustment and Retraining Act.
    "Naturally, we regret having to take this action but today's travel environment, combined with an already softening economy, make this move unavoidable," said ANC CEO and Chairman Michael S. Egan. "The closing will be transparent to our customers, since their calls will be routed to our centers in Boca Raton, Charleston, and Salt Lake City," he added.
    ANC Rental Corporation , headquartered in Fort Lauderdale, is one of the world's largest car rental companies with annual revenue of approximately $3.5 billion in 2000. ANC Rental Corporation, the parent company of Alamo and National, has more than 3,000 locations in 66 countries and employs approximately 19,000 associates worldwide.

    Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. Additional discussion of factors that could cause the actual results to differ materially from management's projection, forecasts, estimates and expectations is contained in the Company's Form 10-K and other SEC filings.