ANC Rental Corporation Wins Pivotal Motions in Appellate Court and Approval to Consolidate at Ten More Airports

    FORT LAUDERDALE, Fla.--May 24, 2002--ANC Rental Corporation won a pivotal ruling Wednesday, May 22 when the U.S. District Court in Delaware denied a series of requests by Hertz and Avis for emergency stays that would have prevented ANC from consolidating its Alamo Rent A Car and National Car Rental brands at numerous airports nationwide. ANC had received the go ahead to operate at 27 airports under a single concession agreement approved by the Delaware Bankruptcy Court under a series of rulings dated January 28, March 20, May 3, and May 10, 2002.
    "Hertz and Avis have failed to demonstrate the necessary irreparable harm," that is required to grant a stay of relief, wrote U.S. District Judge Gregory Sleet in his ruling. Addressing Hertz and Avis' claim that the advantage gained through consolidation would cause them irreparable harm, the court ruled that, "revenues and customers lost to competition, which can be regained through competition, are not irreparable." The court also found that Hertz and Avis failed to, "make even a prima facie showing which demonstrates that approval for consolidation would result in a tangible financial or other loss to them."
    In another court win Wednesday, ANC was granted approval to operate its Alamo and National brands under a single concession agreement at ten additional airports nationwide. The airports approved in Wednesday's ruling include Tampa, Reno, St. Petersburg/Clearwater, Nashville, Grand Rapids, MI., Moline, IL., Eugene, OR., Lubbock TX., and Aspen CO. Also approved in Wednesday's court ruling was the airport in Ft. Walton Beach, FL.; significant because it is the first consolidation to be approved over an airport's objections.
    "Wednesday's rulings were very significant for us," said Larry Ramaekers, CEO and President of ANC Rental Corporation. "The denial for stays thwarted a major strategy for Hertz and Avis, and it was a major win for us. We were particularly pleased with the court's admonition that the marketplace is where Hertz and Avis should focus to correct any alleged harm they suffered."
    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.