ANC Corporation Wins Pivotal Motion in Federal Bankruptcy Court

    FORT LAUDERDALE, Fla.--May 8, 2002--A Federal Bankruptcy Judge ruled in ANC Rental Corporation's favor on Friday, May 3, approving the company's motion to combine the operations of its Alamo and National car rental brands at airports in four additional cities: Las Vegas, Nev., Memphis, Tenn., Houston, Tex., and Melbourne Fla. Judge Mary Walrath rejected a motion from Hertz and Avis to block consolidation, and precluded both companies from making similar attempts in the future.
    The decision brings the number of airports to eleven where ANC can now operate its Alamo and National brands under a single concession agreement. The Cincinnati/Northern Kentucky International Airport has allowed the Alamo and National brands to operate out of a single location since January 10, and ANC has operated dual brands at the Detroit, Hartford, Jacksonville, Pittsburgh, Springfield, MO and Huntsville Ala. airports since late March.
    "This decision is a substantial step forward for ANC," said Lawrence Ramaekers, President and Chief Executive Officer ANC Rental. "Our leading competitors have stalled the process of consolidation for several months; now with this ruling, we will be in a position to quickly win court approval for the additional 34 dual-branding motions currently filed."
    Consolidation at the four most recently approved airports will save ANC $4.5 million dollars annually in operating costs. The company has added over a hundred thousand new cars to its fleet, giving customers a wider variety of cars from which to choose. Customers are seeing service improvements through the consolidation, including more frequent buses, ensuring quick, hassle-free rental experiences. ANC has also extended its hours of operation at many dual-branded locations to meet the needs of leisure and business travelers.
    ANC Rental Corporation, headquartered in Fort Lauderdale, is one of the world's largest car rental companies with annual revenue of approximately $3.2 billion in 2001. ANC Rental Corporation, the parent company of Alamo and National, has more than 3,000 locations in 69 countries. Its more than 17,000 associates serve customers worldwide with an average daily fleet of more than 275,000 automobiles.