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Budget & Europcar Announce Partnership Agreement

28 January 2000

    LISLE, Ill. -- Budget Rent a Car Corporation, the world's third largest car 
and truck rental system and a wholly owned subsidiary of Budget Group, Inc., 
announced today that it has reached a cooperative agreement with Europcar 
International, S.A., a unit of Volkswagen AG, to service inbound Europcar 
customers into North America,effective March 1, 2000.

    "This is just the beginning of a long and mutually beneficial relationship
between Budget and Europcar," stated Sandy Miller, chairman and CEO, Budget
Group, Inc.  "We are exploring additional joint marketing opportunities to
boost revenue and profitability to take advantage of the combined strength of
both companies."

    To ensure ease of identification and to welcome Europcar travelers, Budget
plans to display Europcar signage at its North American locations.  Throughout
the U.S. and Canada, Europcar customers will have a wide choice of rental
vehicles from Budget's WorldClass Fleet and after an initial transition period
they will have access to Fastbreak(SM), the company's fastest way to rent a
car.

    "Through this partnership with Budget, our customers are assured of a
positive rental experience when traveling in the U.S. and Canada," stated
Dr. Michael Kern, CEO, Europcar International, S.A.

    Europcar is one of Europe's leading car rental companies.  Founded in
France in 1949, Europcar today operates a fleet of over 138,000 vehicles with
a network of over 2,400 rental locations in Europe, the Middle East, Africa
and Asia-Pacific through a combination of corporate owned and franchised
outlets.  The company is owned by Volkswagen AG, the largest automobile
manufacturer in Europe.

    Budget Rent a Car Corporation, 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 3,000 airport 
and local market locations in over 120 countries and territories.  Budget has 
more than 1,000 corporate-owned and franchised locations in the United States.  
Budget's WorldClass Fleet is comprised of more than 30 percent specialty 
vehicles, ranging from sport utility vehicles, convertibles and luxury cars to 
minivans, pickups and environmentally friendly vehicles.