TEAM RENTAL GROUP EXPANDS OPERATIONS INTO RETAIL AUTO SALES; San Diego Marks First Location to Offer Used Autos

Business Wire, Jan 6, 1995

DAYTONA BEACH, Fla. and SAN DIEGO, Calif.--(BUSINESS WIRE)-- January 6, 1995--In keeping with its strategy to enter into businesses which complement its auto and truck rental operations, Team Rental Group, Inc. (NASDAQ: TBUD) announced today that it has secured a location in El Cajon, California, near San Diego for the purpose of retailing used autos. The approximately two acre site, formerly a Mercedes Benz dealership, will initially feature an inventory of approximately 125 vehicles from Team Rental Group s San Diego fleet as well as special purchase vehicles that the Company will acquire. Team Rental Group owns and operates the San Diego area Budget Rent a Car franchise which has 13 locations. Team Rental projects that the grand opening of the sales facility will take place mid-January 1995 and expects to sell approximately 1,000 vehicles from the operation in calendar 1995.

Commenting on the expansion, Team Rental Group Chief Executive Officer, Sandy Miller, stated, Entering the auto retailing market is part of our long-term expansion plan. This business provides a new profit center with attractive margins, enhances Team Rental s ability to turn its rental fleet, and increases the regional awareness of our rental operations because of the advertising we will do to promote sales.

Brian Britton, President of Budget Car Sales of San Diego, Team Rental s local sales subsidiary, added, We will be offering vehicles at attractive, no haggle prices in a professional sales atmosphere, in keeping with the environment customers prefer. All vehicles will include a 45 point safety inspection, and we intend to provide all the services a customer needs including accepting trades, arranging financing and offering service contracts and maintenance agreements. In addition to providing customers with service on vehicles they purchase, we may eventually also offer service on vehicles not purchased from us.

Budget Car Sales of San Diego will offer a broad array of vehicles with approximately 15% of inventory comprised of trucks and vans, 15% mini vans, 5% sport utility vehicles, 25% economy/compact cars, 25% intermediate/full size cars and about 15% luxury vehicles. Team Rental Group owns and operates eight Budget Rent a Car franchises engaged in car, truck and passenger van rentals in California, Delaware, New Jersey, New York, Ohio, Kentucky, Pennsylvania, Indiana and Virginia and has entered into definitive agreements to purchase Budget Rent a Car franchises in Charlotte, North Carolina and Dayton, Ohio. The Company also operates airport parking facilities at certain locations and is entering the retail used vehicle sales market.

CONTACT: Team Rental Group

             Sandy Miller
             Chief Executive Officer
             904/238-7035
                  or
             Jaffoni & Collins Incorporated
             Joseph N. Jaffoni, David C. Collins
             212/505-3015