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Budget Converts St. Louis Franchise Operations to Corporate Ownership

13 November 1997

Budget Converts St. Louis Franchise Operations to Corporate Ownership

    LISLE, Ill., Nov. 13 -- Budget Rent a Car Corporation, a
wholly owned subsidiary of Budget Group, Inc. , announces the
acquisition of its franchise operation in St. Louis, Missouri in a Budget
Group stock transaction.
    Budget of St. Louis operates an average fleet of more than 1,000 cars and
trucks at six convenient locations throughout St. Louis, including the airport
and several downtown and suburban locations.
    "We have always maintained an excellent relationship with the Cowhey
family, who has owned and operated the profitable franchise since 1966 and who
will be instrumental in ensuring a smooth transition into corporate
ownership," comments Sandy Miller, chairman and CEO for Budget Group, Inc.
    Miller continues, "Budget is at the highest level of unified ownership in
its history. The company's U.S. corporate locations now account for nearly 80
percent of the Budget system, and our goal is to reach 90 percent to allow for
even greater consistency of service and control."
    "Converting the St. Louis franchise operation to corporate ownership
enables Budget to experience a reduction in overhead costs such as fleet and
financial planning, and provides the company with a corporate flagship
operation in the Midwest," states Ken Reimann, vice president, Central Region
for Budget Rent a Car Corporation.
    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 120 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 Car Sales, a subsidiary of Budget
Group, is one of the largest independent retailers of late model vehicles in
the United States, operating 26 retail car sales facilities. The company also
operates airport parking facilities at certain locations and through Van Pool
Services, Inc. leases vans for van pooling operations in 28 states.

SOURCE  Budget Rent a Car Corporation