Franchise Services of North America Inc. Announces New Franchisees; Robert Barton, COO, new President of American Car Rental Association
TSX-V Trading Symbol: FSN
CALGARY, Feb. 27 /PRNewswire-FirstCall/ - FRANCHISE SERVICES OF NORTH AMERICA INC. ("FSNA" or the "Company") announced today the sale of the U-Save franchise for San Diego International Airport, two new Rent A Wreck Franchises, one in Sudbury, Ontario, and a two-location franchise for Terrace and Kitmat, British Columbia. The Company also announced that Robert M. Barton, it's Executive Vice President and Chief Operating Officer has been elected to be the new President of the American Car Rental Association ("ACRA"). "We continue our efforts to expand the U-Save presence in the top leisure airport markets. San Diego is a big step in that direction. Our continued development of the Rent A Wreck system in Canada is also doing quite well, with the addition of these three new locations. Bob's appointment to be the new President of ACRA is a reflection of his hard work and dedication. It is especially gratifying to have this recognition acknowledged by your peers," said Sandy Miller, Co-Chairman of the company, and also a past President of ACRA. About FSNA ---------- FSNA is a publicly traded company on the TSX Venture Exchange. The company and its subsidiaries own the following brands: U-Save Car & Truck Rental, U-Save Car Sales, Rent-A-Wreck of Canada, Auto Rental Resource Center ("ARRC"), Xpress Rent A Car and Peakstone Insurance. U-Save, with its subsidiary ARRC, has over 1,100 locations throughout the United States and is one of North America's largest franchise car rental companies. Having primarily serviced the local market for the past 25 years, the company is expanding into the airport market with plans for the opening of airport locations in the top 30 markets in the United States and the major airports in Canada. U-Save currently services 27 airport markets in 14 different states. U-Save Car Sales is an expansion of the U-Save brand into the car sales market, and provides goods and services to car sales operators looking to affiliate with a national brand. Practicar Systems Inc. (a wholly owned subsidiary of FSNA) owns the rights to the Rent-A-Wreck(R) trademark for all of Canada. The Rent-A-Wreck(R) system operates a network of 50 franchises from coast-to-coast in Canada, providing a range of vehicle rental, leasing and sales options to its customers. The Rent-A-Wreck(R) system has been in continuous operation in Canada since 1976. Forward-Looking Information --------------------------- Certain information included in this press release is of a forward-looking nature. Forward-looking information is subject to known and unknown risks, as well as uncertainties and other factors. Accordingly, actual results may differ materially from those expressed or implied in forward-looking information. Some of the risks, uncertainties and other factors affecting FSNA are discussed in our public filings with the securities regulatory authorities in Canada. Copies of FSNA's Canadian filings, including our most recent management information circular, annual information form, interim financial statements, material change reports and news releases, are available online at www.sedar.com. Information in this document is presented as of February 26, 2008 and is subject to change after this date. However, FSNA disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
SOURCE Franchise Services of North America Inc.
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