Franchise Services of North America Inc. Provides Update on Regulatory Matters

TSX-V Trading Symbol: FSN

Jun 18, 2008, 01:00 ET from Franchise Services of North America Inc.

    CALGARY, June 18 /PRNewswire-FirstCall/ - Franchise Services of North
 America Inc. ("FSNA" or the "Company") announced today that it has received
 notification from the Alberta Securities Commission (the "ASC") that they
 have completed their continuous disclosure review of the Company's public
 filings and that the ASC's file in respect of that review is now closed.
     Bob Barton, the Company's Chief Operating Officer, stated, "We are
 pleased to report that we have satisfied all comments received to date from
 the ASC in connection with their continuous disclosure review of the
 Company's public filings and that they have advised us the file is now
 closed. All required financial reports have now been filed and the Company
 has filed the application to have the cease trade order rescinded."
     About FSNA
     FSNA is a publicly traded company listed 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 Financial
     U-Save, together 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
     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 53 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.
     The TSX Venture Exchange does not accept responsibility for the
     or accuracy of this release.

SOURCE Franchise Services of North America Inc.