Budget Launches Truck Rental Internet Strategy Through Alliance
7 March 2000
Budget Group, Inc. Launches Truck Rental Internet Strategy Through Strategic Alliance With Homestore.com, Inc.
Multi-Million Dollar, Ten-Year Alliance with Internet's Largest
Home and Real Estate Network Provides Nation's Second Largest Truck Rental
Company Access to Over 2 Million Consumers per Month
LISLE, Ill., March 7 Budget Group, Inc. ,
through its Budget Truck Group division, which includes Ryder TRS and Budget
Truck Rental, announced the signing of a ten-year strategic alliance with
Homestore.com, Inc. , the largest home and real estate network
on the Internet.
With this alliance, Budget Truck Group is the first consumer truck rental
company to initiate a broad-scope Internet strategy for local and one-way
truck rental. The over 2 million consumers who visit the Homestore.com(TM)
Internet network each month will now have access to free online truck rental
quotes, online reservations and online purchase of boxes and other moving
supplies from Ryder TRS and Budget Truck Rental. "Self-movers" represent
approximately 75 percent of consumers who move each year, and of those,
40 percent rent trucks for their moves.
In return for marketing and exclusive branding services, Homestore.com
will pay Budget through the issuance of 1,085,000 shares of its common stock
priced at the close of the Nasdaq market yesterday.
"Working with Homestore.com provides a great opportunity to reach
consumers early in the moving process as they access the leading Internet real
estate and home network," said Sandy Miller, chairman and CEO of Budget Group,
Inc. "Budget Group and Homestore.com have hit a 'home' run with this 'bricks
and clicks' alliance by bringing value-added services and more choice to
consumers."
Homestore.com(TM) will participate in online and off-line Budget Group
media commitments, including national yellow page advertising, print,
television and radio advertising, and in-store promotions. In addition, the
Budget Truck Group rental fleet of more than 45,000 trucks will showcase the
Homestore.com logo, generating nearly 144 billion impressions as these
"rolling billboards" travel throughout America along interstate highways,
local roads and neighborhood streets.
With this alliance, Homestore.com obtains access to over 2 million Budget
Truck Group customers who move annually. Links from the Budget Group network
to Homestore.com(TM) will include Homestore.com(TM) extensive home, apartment
and real estate content as well as myriad relocation tools.
"Through this strategy, consumers will have access to the largest
inventory of homes for sale, products and home services - and now, world-class
online moving tools from one of the most recognizable names in the truck
rental business," stated Stuart Wolff, chairman and chief executive officer of
Homestore.com, Inc.
Homestore.com is a complete source of relocation information, including
special tools designed to help visitors price and organize their move, as well
as provide city reports, school district reports, community comparisons and
crime statistics.
About Budget Group, Inc.
Budget Group, Inc., through its Budget Truck Group division, is the
nation's second largest consumer truck rental company. The Budget Truck Group
is comprised of Ryder TRS, Inc. and Budget Truck Rental. Budget Truck Group
offers a fleet of 45,000 trucks, ranging from 10-foot to 24-foot models, at
more than 4,100 locations nationwide. For Ryder TRS quotes and reservations,
consumers can visit the Ryder TRS Web site: http://www.yellowtruck.com , call
1-800-GO-RYDER, or call a local Ryder TRS dealer. For Budget Truck Rental
quotes and reservations consumers can call 1-800-367-0522. For more
information on Budget Group, go to http://www.budget.com . Ryder(R) is a registered
trademark of Ryder System, Inc. and is used under license.
About Homestore.com, Inc.
Homestore.com, Inc. provides the leading network of sites
on the Internet for home and real estate-related information. Homestore.com,
Inc.'s family of web sites include the Homestore.com(TM), Realtor.com(R),
HomeBuilder.com(TM), SpringStreet.com(TM), Remodel.com(TM) and
HomeFair.com(TM) web sites. Consumers can view over 1.3 million new and
existing homes for sale and find broker and agent services on Realtor.com(R),
the official Internet site of the National Association of Realtors(R).
Consumers searching for new homes can find more than 130,000 models, new homes
and built to suit plans on HomeBuilder.com(TM), the official new homes site of
the National Association of Home Builders. Consumers interested in renting an
apartment will find listing information from more than 45,000 properties in
more than 6,000 cities on SpringStreet.com(TM). Homestore.com's remodeling
area covers home improvement needs for both consumers and remodeling
professionals. Comprehensive moving and relocation information on the Internet
is available from HomeFair.com(TM). Homestore.com(TM) also has content
distribution relationships with America Online; Excite @Home and Go
Network/Infoseek.
This press release contains forward-looking information within the meaning
of Section 27A of the Securities Exchange Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, and is subject to the safe harbors created by
those sections. Actual results may differ materially. The matters discussed
in this press release also involve risks and uncertainties described from time
to time in Budget Group, Inc.'s filings with the Securities and Exchange
Commission (SEC). In particular, see "Risk Factors" in the Company's Annual
Report on Form 10-K for the year ended December 31, 1998
( http://www.sec.gov ).
This press release contains forward-looking information within the meaning
of Section 27A of the Securities Exchange Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, and is subject to the safe harbors created by
those sections. Actual results may differ materially. The matters discussed
in this press release also involve risks and uncertainties described from time
to time in Homestore.com, Inc.'s filings with the Securities and Exchange
Commission (SEC). In particular, see "Risk Factors" in the Final Prospectus
included in the Company's Registration Statement on Form S-1 declared
effective by the SEC on August 4, 1999 ( http://www.sec.gov ).