Flexcar Gives Green Light to Car-Sharing For Undergrads; First National Company to Offer Car-Sharing for Drivers Under Age 21

SEATTLE--Aug. 3, 2006--Flexcar today announced its new "Flexcar for Undergrads" program, which kicks off at six universities across the country. The first campuses include the University of Portland (Ore.), University of California-Los Angeles, University of California-San Diego, University of California-Berkeley, University of Maryland and Emory University (Atlanta). Flexcar will partner with more campuses in the Fall as this pilot program demonstrates success at the initial sites. Colleges and universities can learn more about this program and register their interest in bringing it to their campus online at www.flexcar.com/undergrad.

Personal transportation has long been a challenge for undergraduates. Campus parking for privately owned cars is usually very limited, and rental car companies traditionally only rent to people 25 and older. Even car-sharing, which has been rapidly expanding on college campuses, has been restricted to those 21 and older. But Flexcar's pilot program will change all that, and in the process create a whole new level of mobility, flexibility and environmental stewardship on campuses.

Flexcar's award-winning service provides its members with on-demand access to a fleet of low emission vehicles, including a significant number of hybrids, conveniently located in metropolitan areas across the country. Members reserve a vehicle online or via touchtone phone, use a Smartcard to open the doors, take their trip, then return the car at the end of the reservation. A single, simple hourly fee covers all gas, insurance, mileage, maintenance, parking and 24-7 emergency service. National studies have shown that each shared car placed in service removes up to 14 privately owned vehicles.

Flexcar is already a leading provider of car-sharing services to faculty and staff at colleges and universities across the United States. Many campuses offer Flexcar as a commuting enhancement service to encourage faculty and staff to leave their cars at home, using Flexcar for personal errands during the day.

Other campuses rely on Flexcar for university-related business travel, such as meetings, seminars and other trips. Flexcar for Undergrads now opens up all of the benefits of car-sharing to 18-20 year-olds, a group which comprises the largest portion of most campus populations.

"We originally brought Flexcar on campus to help us reduce the number of cars on campus while at the same time give our faculty, staff and older students a convenient transportation option," said David Allen, director of transportation services at the University of Maryland. "Now, with more people eligible to use the program, we expect the impact to be even more significant."

The company is working through the many challenges associated with what the insurance industry generally considers the highest-risk driver group -- under-21 year olds. Nonetheless, Flexcar officials feel it is important to extend the personal, environmental and community benefits to this segment of the driving population.

"Flexcar is perfect for today's college students" said Mark Norman, Flexcar's CEO. "They value our clean fleet and appreciate how easy it is to use our 'point-click-drive' program. Flexcar makes getting a car on campus easy and frees up hard-earned money for tuition or entertainment."

Students at these universities must meet certain eligibility requirements in order to participate in the program, including a clean driving record, supplemental insurance and parental approval. They also must pay a refundable deposit. More information on the Flexcar for Undergraduates Program is available at: www.flexcar.com/undergrad

About Flexcar

Flexcar founded the U.S. car-sharing industry and now operates car-sharing programs for more than 35,000 members in eight metropolitan areas, covering nearly 40 cities in seven 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. Flexcar is a portfolio company of Revolution Living, an operating unit of Steve Case's investment firm Revolution LLC.

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