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Budget Rent A Car International Acquires U.K.-Based Jasmor Rent A Car

16 July 1999

Budget Rent A Car International Acquires U.K.-Based Jasmor Rent A Car

    LISLE, Ill., July 15 -- Budget Rent a Car International, Inc.
a subsidiary of Budget Group, Inc. , announced the acquisition of
U.K.-based Jasmor Rent a Car, effective immediately.  Jasmor currently
operates a fleet of over 2,400 vehicles at 14 U.K. locations.
    The combined strength of Budget and Jasmor in the U.K. will create a
network of over 140 rental locations and a fleet of more than 16,000 vehicles.
Under the terms of the agreement, the Jasmor brand name will be gradually
phased out.
    "We are absolutely delighted to have completed the purchase of Jasmor.
The acquisition fits in perfectly with our aggressive business strategy,"
commented Doug Sawers, managing director and general manager of Budget U.K.
Operations.  "We're gaining additional Ford fleet and a great base of
commercial customers."
    A spokesperson for Jasmor Rent a Car stated, "The car rental industry is
undergoing a period of consolidation.  As a result, it was felt that the
long-term interests of the company, its employees and its customers would be
best served by the brand being developed with the financial support of one of
the world's largest car and truck rental companies.  Our existing customers
will be able to take advantage of Budget's wide range of products in the U.K.
as well as having access to a national and global network of local market and
airport locations."
    Budget Rent a Car, a wholly owned subsidiary of Budget Group, Inc.
, is one of the world's top three car and truck rental systems.  The
Budget system, which operates under the same name worldwide, has more than
2,900 airport and local market locations in over 120 countries and
territories.  Budget has nearly 900 corporate-owned and franchised locations
throughout the Europe, Middle East and Africa region, including over 140
rental locations in the U.K.
    Around the world, Budget differentiates itself in the industry through its
"out-of-the-ordinary" products and services.  In addition to the normal range
of vehicles, Budget's WorldClass Fleet in the U.K. includes Jaguar, Mercedes,
BMW and Porsche, cabriolets, 4 x 4 models and Harley-Davidson motorcycles.
The newest addition to the WorldClass Fleet is the Ford Cougar sports coupe.
Visit our Web site at: http://www.drivebudget.com .