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Dollar Rent A Car and Europcar Announce Alliance

10 December 1997

Dollar Rent A Car and Europcar Announce Alliance

    TULSA, Okla., and PARIS, Dec. 10 -- Dollar Rent A Car
Systems, Inc. and Europcar International today announced an alliance of the
U.S. and European car rental reservations systems of both companies.
    According to the terms of the agreement, effective February 1, 1998,
Dollar(R) and Europcar(R) rental locations in the U.S. and Europe will use the
names of both companies.  No stock or assets will be exchanged as a result of
the agreement.  The announcement was made simultaneously from New York by Gary
L. Paxton, Dollar President and Chief Executive Officer, and from Paris by
John Du Monceau, Chief Executive Officer, Europcar.
    This agreement will, in the initial stage, enable Dollar customers,
seeking to reserve rental cars in Europe, the Middle East and Africa, to use
the services of Europcar.  Likewise, Europcar will reserve Dollar vehicles for
its U.S., Canada and Latin America bound clients.  This arrangement is
designed to better serve the needs of Dollar and Europcar customers.
    Dollar and Europcar believe this is a logical, and natural step which will
strengthen both companies.  In the short term, this could lead to selected
joint ventures in Asia and other international markets, while long term, to
greater overall global cooperation.
    "We are extremely pleased that this innovative partnership will allow our
respective companies to grow in areas that are vital to the global travel
market," Paxton said.  "Europcar is an excellent company that shares Dollar's
philosophy of providing exceptional customer service, value and convenience.
Together, we plan to capitalize on these synergies by serving the world's
busiest gateways."
    "This unique alliance provides clear opportunities for Europcar and Dollar
to increase transatlantic rental volumes, pursue worldwide business
development and optimize costs," John Du Monceau said.  "The success of this
alliance is backed by our two companies' similitude and recent accomplishments
including significant growth in our respective markets."
    Dollar Rent A Car and Europcar International will thus meet the needs of
the global travel market at over 2,800 locations in 134 countries with a fleet
of over 175,000 vehicles.  The companies provide services to over seven
million customers annually at suburban and on-airport locations at all major
airports in the United States and Europe, and locations in Canada, Mexico, the
Middle East, Central and South America, Africa and Asia.
    Dollar Rent A Car has approximately 370 worldwide locations in 26
countries, including 230 locations in the U.S.  The company has suburban and
on-airport locations at all major airports throughout the United States.  It
also has significant presence in Australia, Canada, the Caribbean and Latin
America.  The company and its licensees have a fleet of more than 75,000
vehicles.  Founded in 1966, in Los Angeles, California, its worldwide
headquarters are located in Tulsa, Oklahoma.
    Europcar is one of the major European car-rental groups.  Founded in Paris
in 1949, Europcar today has a fleet of over 110,000 vehicles located in 96
different countries covering Europe, the Middle East and Africa.  It is
represented in all the major airports and in downtown locations.  The company
is owned equally by ACCOR, the world leader in hotels, travel agencies and
services, and by VOLKSWAGEN AG, the largest car manufacturer in Europe.  The
company's headquarters are located in the Paris region at St. Quentin-en-

SOURCE  Dollar Rent A Car Systems, Inc.

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