Rent-A-Wreck Announces Completed Merger

OWINGS MILLS, Md.--Jan. 2, 20066, 2006--Rent-A-Wreck of America, Inc. ("Rent-A-Wreck") is pleased to announce that today it completed its merger with MBFG, Inc., a Delaware corporation ("MBFG").

On January 20, 2006, Rent-A-Wreck announced that it had entered into an agreement to merge with MBFG. Upon completion of the merger today, holders of record of pre-merger Rent-A-Wreck stock, subject to applicable requirements, became entitled to receive $0.40 in cash per share of Rent-A-Wreck Common Stock and $0.88 in cash per share of Rent-A-Wreck Series A Convertible Preferred Stock. Such holders are to receive formal notices and instructions with regard to their shares, including information with respect to statutory appraisal rights.