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Avis Europe plc AGM Trading Update

28 April 2000

Avis Europe plc AGM Trading Update

    BRACKNELL, Berkshire--April 28, 2000--Avis Europe plc, the leading car rental company in Europe, Africa, the Middle East and Asia, announced that at the AGM at noon today, Chairman, Alun Cathcart, will comment:

    1999 was another year of excellent progress for the Group in which we achieved further strong profit growth.
    I am pleased to report that demand has been encouraging in the first four months of the current year and against the background of improving economies in our major markets, we continue to experience good volume growth across all business segments, together with selective price increases. We are making good progress in pursuing e-commerce opportunities, with further enhancements to the on-line booking site, the planned summer launch of our on-line used car sales service and the introduction of a new electronic damage tracking system. These initiatives will realise further productivity gains and cost savings, as well as enhancing customer service.
    Our current trading performance and the favourable economic outlook lead us to expect a satisfactory outcome for the year.

    Avis Europe plc rents cars under the Avis brand name to customers in 112 countries. Avis Europe's ordinary shares trade on the London Stock Exchange. Prices may be accessed on Bloomberg under the symbol AVE LN and Reuter Equities 3000 Service under AVE.L. Additional information is available on Avis Europe's internet site: www.avis-europe.com.