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Avis Board of Directors Announces Strategic Management Plan

7 August 1999

Avis Board of Directors Announces Strategic Management Plan

    GARDEN CITY, N.Y., Aug. 6 -- Avis Rent A Car, Inc.
announced today that the Board of Directors has finalized a
management plan for the Company.  The announcement comes as a result of the
acquisition of PHH's Vehicle Management Business and Wright Express, which
closed on June 30, 1999.  Under the new structure, the Avis Management Team
will be comprised of F. Robert Salerno, President and Chief Operating Officer
of Avis Rent A Car, Inc. - Rental Car Group, Kevin M. Sheehan, President of
Avis Rent A Car, Inc. - Corporate and Business Affairs, and Mark E. Miller,
President and Chief Operating Officer of Avis Rent A Car, Inc. - Vehicle
Management Services Group.  The combined management team will report directly
to the Executive Committee of the Board.
    Mr. Salerno will continue to direct Avis' rental car business and Mr.
Miller will direct Avis' vehicle management and card service businesses.  Mr.
Sheehan will be responsible for directing all of the corporate and
administrative functions, as well as directing the overall company's financial
reporting and investor communication efforts.  Sheehan has also been tasked
with spearheading the Company's efforts of maximizing the revenue and
synergistic opportunities inherent with the "New" Avis.
    "As the recent combination of the businesses unfolds, it has become
clearer to us that Kevin, Bob and Mark will, in fact, provide the strongest
team for leadership, direction and execution of Avis' goals.  We are extremely
confident that the team will continue to effectively position Avis as a global
leader of vehicle management and transportation solutions." said Martin L.
Edelman, Chairman of the Board and Executive Committee. "We have decided to
terminate our search for a new CEO."
    Avis is one of the world's leading providers of comprehensive automotive
transportation and vehicle management solutions, with strengths in car rental,
vehicle leasing, and vehicle management services.  Avis operates the second
largest general-use car rental business in the world, with locations in the
United States, Canada, Australia, New Zealand and the Latin American Caribbean
region.  Avis operates the vehicle management and fuel card businesses through
three separate units: PHH North America, PHH Europe and Wright Express.  The
services of these units consist of vehicle leasing and a broad range of
vehicle related fee based services.  The Company manages a fleet of
approximately 1 million vehicles and has over 3.6 million fuel and maintenance
cards outstanding. Annually, on a pro forma basis, the Company generates
approximately $4.0 billion in total revenue.