Sixt, a Leading European Car Rental and Leasing Company Launches Singapore Franchise

SINGAPORE, Nov. 7, 2006 -- As the 7th country in Asia Pacific, Sixt, one of the leading European car rental and leasing companies, is rolling out its services in Singapore. The company has signed a franchise agreement with the Singapore Mobility Corporation, a subsidiary of PG Asia, a regional group with diversified interests in the automotive and IT industry across Asia Pacific.

Unique Products for a unique market: Singapore, home to many Asia pacific headquarters of multinational companies, is known to be one of the world's most expensive places to purchase cars. Sixt is therefore introducing a range of new leasing products designed to significantly cut costs for vehicle owners. From flexible cost effective leasing solutions and vehicle sales, across international and local short term car rental and limousine services to car sharing services for businesses and individuals, Sixt Singapore is offering a one stop shop solution for all mobility requirements for corporations and private individuals.

Paul Chirdaris, Director of Sixt Singapore: "We have been following the Singapore market for a while now and found that there is a lot of room to improve mobility service products. After launching our products to selected target groups in the market we have received overwhelming response and I am confident that Sixt will be able to make a strong impact on the way vehicle leasing will be offered in Singapore in the future".

One example of the different approach Sixt is taking is its service offering to corporate customers. Companies with higher fleet requirements are offered a free study of their current total cost of fleet ownership and are advised on how to further reduce costs taking into account anything from fuel consumption, fleet utilization, taxation and vehicle depreciation.

Singapore as an innovation hub for mobility solutions: Singapore also acts as a regional hub for Sixt, who supports its various franchisees across the Asia Pacific region from here. Though limited in its market size, Singapore, due to its excellent infrastructure, offers a unique opportunity to test & try various service products for the Asian market before introducing them to other franchisees. Thus several fleet management technologies are being currently tested and will be soon introduced to various other Asian markets next year.

About Sixt

The Sixt AG, headquartered in Pullach, Munich, is an international provider of high quality mobility services. The company that was founded in 1912 is represented worldwide with 3,500 service points, supported by partners and licensees.

About PG Asia

PG Asia is a holding company with diversified interests in the automotive and IT industry. The company operates out of Singapore, China and Australia. PG Asia owns majority or strategic shares in Pelagic Group, GECO Asia, Sixt Asia Pacific and the Singapore Mobility Corporation.