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
"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.
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.
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.