Budget Group Announces Filing of Registration Statement with SEC Relating to Additional Offering

2 September 1997
Budget Group Announces Filing of Registration Statement with SEC Relating to Additional Offering

    DAYTONA BEACH, Fla., Sept. 2 -- Budget Group, Inc.,
announced today that it has filed a Registration Statement with the
Securities and Exchange Commission relating to an offering of 4.5 million
shares of its Class A Common Stock held by an affiliate of Ford Motor Company.
    Budget Group, Inc. will not receive any of the proceeds from the sale of
these shares.  The shares to be sold are issuable upon the conversion of the
non-voting preferred securities issued to Ford Motor Company earlier this year
as part of Budget Group, Inc.'s acquisition of Budget Rent a Car Corporation.
    Goldman, Sachs & Co. will be the lead manager, Credit Suisse First Boston
will be the senior co-manager and ABN AMRO Chicago Corporation, Alex. Brown &
Sons, McDonald & Company, and J.P. Morgan & Co. will be additional co-managers
of the proposed offering.
    Budget Group, Inc., through subsidiary companies and their franchisees,
operates Budget Car and Truck Rental, the third largest worldwide car and
truck rental system, with over 3,200 airport and local market locations in
more than 110 countries and territories.  In addition, the company owns
Premier Car Rental, which serves the insurance replacement market through a
network of 101 locations in 13 major U.S. markets.  Budget Group is one of the
largest independent retailers of late model vehicles in the United States,
operating 23 retail car sales facilities under the name Budget Car Sales.  The
company also operates airport parking facilities at certain locations and
leases vans for van pooling operations in 28 states.
    A registration statement relating to these securities has been filed with
the Securities and Exchange Commission but has not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior to
the time the registration statement becomes effective.  This announcement
shall not constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of these securities in any state in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state.

SOURCE  Budget Group, Inc.