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Budget Group Expects to Close Ryder TRS Acquisition by June 19

4 June 1998

Budget Group Expects to Close Ryder TRS Acquisition by June 19

    DAYTONA BEACH, Fla., June 4 -- Budget Group, Inc.
announced today that it expects to complete its acquisition of Ryder TRS,
Inc., and certain related financing transactions, by Friday, June 19, 1998.
Budget expects to acquire Ryder TRS for $125 million in cash, 3,605,946 shares
of Budget Group Class A common stock and up to $20 million of additional
contingent consideration.
    Prior to the completion of the Ryder TRS acquisition, Budget Group expects
to enter into a series of financing transactions that will include a private
placement of $300 million of trust preferred securities by a subsidiary of
Budget.  The trust preferred securities will be convertible into Class A
common stock of Budget.  The proceeds of the private placement will be used to
provide funds to redeem $165 million aggregate principal amount of Budget's
9.57% Guaranteed Senior Notes Due 2007 (the "Budget Notes") and to fund a
make-whole payment of $25.7 million pursuant to the terms of the Notes.  In
addition, Budget Group expects to initiate on June 5, 1998, a tender offer and
consent solicitation to purchase up to $175 million aggregate principal amount
of Ryder TRS's 10% Senior Subordinated Notes Due 2006 (the "Ryder TRS Notes").
The purchase of the Ryder TRS Notes will be made at a price based on a spread
to U.S. Treasury securities of 75 basis points to the first call date as
described in the Offer to Purchase.  Budget Group announced that, giving
effect to the make-whole payment on the Budget Notes, the tender offer premium
of approximately $25 million on the Ryder TRS Notes and related charges, it
expects to incur after tax extraordinary or non-recurring charges of
$47 million during the quarter ending June 30, 1998.
    The trust preferred securities referred to herein have not been registered
under the Securities Act of 1933 and may not be offered or sold in the United
States absent registration under the Securities Act or an exemption from
registration.  The tender offer for the Ryder TRS Notes and related consent
solicitation will be made only pursuant to an offer to purchase and consent
solicitation statement that is expected to be distributed by Budget Group on
or about June 5, 1998.
    Budget Group, Inc., through subsidiary companies and their franchisees,
operates Budget Car and Truck Rental, the third largest worldwide car and
truck rental system.  In addition, the company owns Premier Car Rental, which
serves the insurance replacement market.  Budget Group also owns Budget Car
Sales, one of the largest independent retailers of late model vehicles in the
United States, and Cruise America, the largest recreational vehicle rental and
sales company in North America.  The company also operates airport parking
facilities at certain locations and, through Van Pool Services, leases vans
for van pooling operations.