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Avis Rent A Car, Inc. Completes Purchase of Richmond's Rent-A-Car Company, Inc.

22 March 1999

Avis Rent A Car, Inc. Completes Purchase of Richmond's Rent-A-Car Company, Inc.

    GARDEN CITY, N.Y., March 19 -- Avis Rent A Car, Inc.,
today announced it has completed its previously disclosed purchase
of Rent-A-Car Company, Inc., one of the oldest Avis franchises in the United
States, headquartered in Richmond, VA.
    Rent-A-Car Company, Inc. generates approximately $15 million in annual
revenue at 19 rental locations across Virginia, Maryland and Delaware
including the Richmond International Airport.  It operates a fleet of
approximately 1,750 cars and employs approximately 100 people.
    The purchase of Rent-A-Car Company, Inc. is another stop in Avis' program
of strategic acquisitions.  Thus far, the strategic acquisitions program has
increased Avis' revenue by almost $300 million.
    Avis Rent A Car, Inc., with locations in the United States, Canada,
Australia, New Zealand and the Latin American Caribbean region is one of the
leading rental car companies in the world.  Annually, the company completes
approximately 15 million rental transactions, with a fleet averaging
approximately 200,000 vehicles, generating over $2.2 billion in revenue.
    For corporate background information and recent news releases, please log
onto the Avis Web site at http://www.avis.com or call Company News at 800-758-5804,
access code #078975.