Avis Budget Group to Sell Rental Fleet Vehicles Wholesale to Dealers Via ATC Open's Online Auction

New Service Lowers Cost and Improves Process Efficiency

PARSIPPANY, N.J., May 31 -- Avis Budget Group, Inc. today announced plans to sell daily rental fleet vehicles wholesale through ATC Open (http://www.atcopen.com/), an online auction service that enables auto dealers to purchase vehicles via the Internet. The service will allow Avis Budget Group to sell a portion of its inventory scheduled for rotation out of its rental fleet faster and at lower cost compared with conventional vehicle auctions. ATC Open will also greatly reduce the time the vehicles are out of service before the sale, helping Avis Budget Group achieve higher overall fleet utilization.

"Over the past two years we have lowered our costs by increasing the percentage of vehicles that we are responsible for selling when they are ready for rotation out of our fleet," said Robert Salerno, president and chief operating officer of Avis Budget Group. "This has driven us to seek new ways to remarket these vehicles faster and more efficiently. This strategic alliance with ATC Open keeps vehicles in service right up until they are sold, creating a faster and more efficient way to dispose of this inventory."

ATC Open will allow dealers to select from Avis Budget Group inventory that spans a variety of automotive makes and models, at a market "buy it now" price, and in specific volumes to suit each dealer. Potential buyers receive detailed vehicle profiles, including the year, make, model, mileage, location and options, which helps dealers make a more informed decision about purchasing vehicles in small or large quantities. Units are typically available for pickup or ready to be transported to the dealership in five business days or fewer. Most units qualify for Certified Pre-owned programs when purchased for resale by a franchisee of the appropriate auto manufacturer.

"I am always looking for a faster and more efficient way to fill my lot," said Tony Gianfermi, used car operations manager at Al Long Ford in Warren, Mich. "I often need to carry a lot of the same makes and models at my dealership, so the ability to buy Avis Budget Group inventory in bulk from ATC Open will save me a tremendous amount of time and money spent tracking down a large quantity of vehicles. And, the fact that the vehicles can be on my sales floor in five business days means I can begin to generate a return on my investment sooner."

"We are very excited to have Avis Budget Group selling its inventory on ATC Open," said Clive Kinross, senior vice president, ATC-Onlane, which operates ATC Open. "Not only does this represent a cost-effective way for Avis Budget Group to sell its vehicles, it gives dealers nationwide access to great inventory from a trusted source. Furthermore, we believe dealers will find the ability to purchase vehicles in volume, and have them available for sale in five business days, highly beneficial to their bottom line."

Forward-Looking Statements

Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words "believes," "expects" "anticipates," "intends," "projects," "estimates," "plans," "may increase," "may fluctuate" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could" are generally forward-looking in nature and not historical facts. Any statements that refer to expectations or other characterizations of future events, circumstances or results are forward-looking statements.

Various risks that could cause future results to differ from those expressed by the forward-looking statements included in this press release include, but are not limited to, the high level of competition in the vehicle rental industry, greater than expected cost increases for new vehicles, no increase or a downturn in airline passenger traffic, an occurrence or threat of terrorism, a significant increase in interest rates or borrowing costs, the Company's ability to operate independently in a cost-efficient fashion following completion of the separation, risks inherent in the restructuring of the operations of Budget Truck Rental and the Company's ability to accurately estimate its future results and implement its strategy for growth. Other unknown or unpredictable factors also could have material adverse effects on Avis Budget Group's performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this press release may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this press release. Important assumptions and other important factors that could cause actual results to differ materially from those in the forward-looking statements are specified in Avis Budget Group's Annual Report on Form 10-K for the year ended December 31, 2006, included under headings such as "Forward-Looking Statements," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." Except for the Company's ongoing obligations to disclose material information under the federal securities laws, the Company undertakes no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events unless required by law.

About ATC-Onlane

ATC-Onlane, Inc. is the leading online auction company in North America for automotive dealers to buy and sell wholesale vehicles. The company offers proven, end-to-end auto remarketing solutions to auto manufacturers, captive finance companies, lease and daily rental companies, financial institutions and wholesale auto auctions throughout the United States and Canada. Since 1999, ATC-Onlane's products and services have enabled customers to reduce cycle times, costs, and achieve greater profitability. For more information, please visit http://www.atc-onlane.com/ or call +1(866)969-0321.

About Avis Budget Group, Inc.

Avis Budget Group is a leading provider of vehicle rental services, with operations in more than 70 countries. Through its Avis and Budget brands, the Company is the largest general-use vehicle rental operator in each of North America, Australia, New Zealand and certain other regions. Avis Budget Group is headquartered in Parsippany, N.J. and has more than 30,000 employees. For more information on Avis Budget Group, visit http://www.avisbudgetgroup.com/.