Jack London Square Adopts Carsharing with Flexcar; Flexcar Establishes East Bay Carsharing Service

SAN FRANCISCO--June 20, 2006--East Bay traffic congestion is one of the worst in the Bay Area, as growth continues from new residential and commercial development. Along with traffic congestion comes parking shortages. Residents and tenants located at Jack London Square know this very well, as hundreds of new residential units are being built, making this neighborhood vibrant and teeming with activity. That's why Jack London Square property management has adopted Flexcar carsharing as a tenant amenity. It's now easier to live and work at Jack London Square without owning a car. As Flexcar expands its carsharing service from San Francisco to the East Bay, Jack London Square becomes a focal point for the growth for Flexcar services.

Many of the real estate developments in the area provide a one-to-one ratio of unit-to-parking spaces, which most often is not enough for the number of cars that tenants own. This has fed the parking congestion issues within the Jack London Square District. Studies have shown that cars are parked on average more than 90 percent of the time. With carshare vehicles, in general 24 or more people share a single car. For every carshare vehicle on the road, 14 vehicles are taken off the road (on average). After joining Flexcar, about 60 percent of members report selling a car or not buying a car.

"Jack London Square is one of the Bay Area's most beloved destinations, with restaurants, shops, hotels, entertainment, recreation, outdoor markets and special events. As we grow, we strive to offer the high quality of life that makes living and working here uniquely special," said Jim Falaschi, Managing Principal of Jack London Square. "Part of this commitment includes offering smart transit options. While solving a congestion issue for us, carsharing is an excellent way to help our residential and commercial tenants have access to a car when they need one. Flexcar presented a plan that works great for everyone."

With Flexcar as an option, people who live or work in the Jack London Square District no longer need to own a car to have access to one. This should help reduce the number of parking spots needed to accommodate future tenant growth.

One tenant at Jack London Square to benefit from Flexcar carsharing is Parsons Brinckerhoff, the contractor operating 511 Rideshare. Many of Parsons Brinckerhoff's 511 Rideshare employees take public transit or carpool to work. But if staff needs a car during the day, they can now use one of Flexcar's fleet of hybrid vehicles parked right outside their offices.

"While 511 Rideshare provides carpool and vanpool matching for Bay Area commuters, we are also instrumental in coming up with comprehensive transportation solutions for the Bay Area businesses. Carsharing is an excellent option in helping employees access cars when they need one, without having to drive their own cars to work," said Debbie Maus, Parsons Brinckerhoff's Operations Manager for 511 Rideshare.

Flexcar's innovative program provides its members with on-demand access to a fleet of low emission vehicles, including gas/electric hybrids, pickup trucks and minivans. Members reserve the vehicles via the Internet or touchtone phone for hourly use. A simple hourly, or discounted monthly fee includes gas, insurance, parking, maintenance and 24-7 emergency service.

"Jack London Square wanted to bring people into this charming and historic neighborhood as a gathering place for residents and visitors -- but not all the cars. Carsharing works particularly well here," said Dana Beard, general manager of Flexcar in San Francisco. "More managers are turning to Flexcar to help reduce parking congestion and increase transit options for their residential and commercial tenants. Flexcar is a perfect fit at Jack London Square, where employees can use the cars during the workday, and tenants can use them in the evening and weekends. This efficient use of the vehicles benefits everyone. We are very pleased to be working with such a forward-thinking community."

In the Bay Area, Flexcar vehicles are clustered in the San Francisco downtown Financial District and in numerous neighborhoods, including North Beach, Civic Center and Pacific Heights. In addition, Flexcar is the first carsharing company to offer service throughout the state of California, along the West Coast and across the country. Because Flexcar operates nationally, individual and business members can use vehicles from Seattle to San Diego and in 37 other cities in 6 states from coast-to-coast -- with more locations being added soon. More information on Flexcar's San Francisco operation is available at www.flexcar.com or by calling 415-282-3539

ABOUT FLEXCAR

Flexcar founded the U.S. car-sharing industry and now operates car-sharing programs for more than 35,000 members in seven metropolitan areas, covering 37 cities in 5 states and the District of Columbia. With flexible pricing plans, members can reserve and drive any of these cars whenever and wherever they need to, without filling out complicated paperwork, paying for insurance, gas or repairs. Flexcar Business Memberships enable companies to augment or replace their fleet with Flexcar vehicles. Flexcar's fleet includes sedans, gas-electric hybrids, and specialty vehicles including pickups, AWD, minivans and convertibles. AOL Founder Steve Case and auto industry legend Lee Iacocca are investors/owners of Flexcar.

Editor's Note: Correct spelling and punctuation of name is "Flexcar" (not Flex-car FlexCar, Flexicar or Flex Car).