Zipcar, Nation's Largest Car Sharing Service, to Launch 100 Vehicles; Becomes Largest Car Sharing Fleet in Illinois With Plans for Rapid Growth

Historic Water Tower Park Event Celebrates Successful Launch, Unprecedented State Grant and Member Tax Incentives

CHICAGO, Sept. 12 -- Zipcar -- North America's largest and fastest growing car sharing service -- today becomes the largest car sharing service in Illinois as its fleet of nearly 100 Zipcars is launched in 14 city neighborhoods. The company will significantly increase its fleet by the end of 2006.

Zipcar also announced that it will match a $25,000 State of Illinois grant, announced today to encourage car sharing in Illinois. This will mean a combined total of $50,000 in savings to be passed along to new Zipcar members. The first 1,000 members to sign up for the Zipcar service will each receive a $50 driving credit. In addition, the City of Chicago has exempted car sharing from its tax on rental cars, demonstrating the city's desire to help keep Zipcar's rates affordable.

To celebrate establishment of its successful launch and planned expansion of its Midwest hub in Chicago, Zipcar is hosting a ceremony today at historic Water Tower Park, 806 North Michigan Avenue. A live trio will set the tone playing classic Chicago Blues. Zipcar CEO Scott Griffith will be joined by state and city officials in heralding Zipcar -- urban transportation's future -- and in cutting the green ribbon around an 18-wheeler stacked with fuel- efficient new Zipcars.

Zipcar's first vehicles are located throughout the city, parked near transportation lines in 14 neighborhoods, including Lakeview, Wrigleyville, Lincoln Park, Wicker Park/Bucktown, River North, River West, Hyde Park, Old Town, the Gold Coast, and the UIC/Little Italy area. The fleet expansion will place new cars in these neighborhoods, as well as bring cars to additional neighborhoods currently underserved by car sharing and transportation options. This rapid fleet expansion follows the recent announcement that GE Commercial Finance Services has green-lighted $20 million in vehicle lease financing, supporting Zipcar's growth and enabling Zipcar to source and roll out new vehicles more quickly and cost-effectively.

"Our expansion plans will make more Zipcars available at more locations where people live and work so Chicagoans can rely on us to make real lifestyle changes," Griffith said. "Our members have easy access to a growing network of new fuel-efficient, fun vehicles. They can reserve them at low hourly rates that include gas, parking and insurance. Our goal is to encourage residents and businesses to rethink owning a car in the city."

"Gov. Blagojevich and I are happy Zipcar is expanding in Illinois, which will provide residents and businesses with a unique, convenient service, while reducing traffic congestion and fuel consumption, maximizing our taxpayer's dollars and improving the quality of life. With our assistance, we look forward to watching an increase of this car sharing service and creating more opportunities and economic development in our communities," said Illinois Department of Commerce and Economic Opportunity Director Jack Lavin.

Sadhu Johnston, Commissioner of the City of Chicago Department of the Environment and Assistant to the Mayor for Green Initiatives, noted that the City of Chicago has exempted car sharing from its tax on rental cars to help keep Zipcar's rates affordable.

"Car sharing urbanites bike and walk more. Most increase routine public transit use by nearly 50% and then choose to use a Zipcar for other kinds of driving trips," Johnston said. "This extensive network of shared vehicles will ease parking and traffic congestion and increase transit use while removing underutilized cars from neighborhood roads."

Nationally, Zipcar estimates it has taken over 25,000 personally owned vehicles off the road. In recent surveys conducted by Zipcar as well as through third-party research, it was found that nearly 40% of Zipcar members sell their private vehicle or put off purchasing a car because Zipcar's car sharing service is available in their neighborhoods.

Jerry Roper, President and CEO of the Chicagoland Chamber of Commerce, said, "Studies show that Zipcar members, most of whom do not own cars, save over $5,000/year versus car ownership and drive these vehicles to go shopping or eat out in local neighborhoods around the city. More discretionary income means that this new approach to urban living will be a boon to local merchants."

Those wishing to attend the launch event should be present at 11:00 a.m. at the historic Water Tower Park, 806 North Michigan Avenue. Special offers, discounts and prizes will be distributed to all attendees. Jack Lavin, Sadhu Johnston and Jerry Roper will speak at this event.

About Zipcar

With 70,000 consumer and business drivers, Zipcar is North America's largest car sharing service. The company currently operates over 1,800 vehicles in 12 states and provinces, including metro New York, Boston, Chicago, San Francisco, Minneapolis, Toronto and Washington, DC. With Zipcar's award-winning technology, accessing and using a Zipcar is as easy as getting cash from an ATM. In minutes or up to a year in advance, members can reserve Zipcars online or by phone, 24 hours a day, seven days a week. Zipcar members have automated access to any Zipcar across North America using a "Zipcard" to simply unlock the door and drive away. With Zipcar, gas, parking and insurance are always included. For more information, visit http://www.zipcar.com/ .