Budget Group Announces Reorganization of its French Locations

Apr 03, 2001, 01:00 ET from Budget Group, Inc.

    LISLE, Ill., April 3 /PRNewswire/ -- Budget Group, Inc. (NYSE:   BD)
 announced today that it is reorganizing its French network of rental locations
 into major regional franchise territories.  Included in the reorganization is
 the refranchising of nearly all of the Company's corporate French locations,
 transforming the country into a ninety percent franchised operation.
     Budget Rent a Car International has negotiated agreements with a
 number of investors, nearly all of whom are current Budget franchisees.
 These transactions are expected to close throughout April and May.  The
 refranchising represents the second step in the execution of Budget's
 scale-back strategy to substantially reduce financial and operating risk
 in Europe.  The Company recently completed the sale of its Birmingham and
 Manchester, England locations to a Budget franchisee.
     Jack Frazee, president and chief operating officer of Budget Rent a Car
 International stated, "This restructuring program mirrors what we have already
 implemented in the UK and are now starting in other European corporate
 locations.  The investors we have secured for the expanded regional franchises
 were selected on the basis of their industry expertise, local market knowledge
 and strong focus on high levels of customer service."
     Meanwhile, Budget will retain corporate control of select locations at
 the Paris and Nice gateway airports, as well as Paris railway stations and
 downtown locations.  In addition, Budget will continue to manage the
 administration of large corporate accounts and serve the growing international
 customer base from the rest of Europe, the Middle East, Africa, North America
 and Asia Pacific.
     Through the reorganization, Budget France will also be able to achieve
 better fleet utilization and higher levels of service through a more effective
 management of the business.  The strategy will enable Budget France to combine
 the flexibility offered by a franchise network with the service guarantee of a
 corporate network.
     Budget Group, Inc. owns Budget Rent a Car Corporation and Ryder TRS.
 Budget is the world's third largest car and truck rental system and Ryder
 TRS is the nation's second largest consumer truck rental company.  For more
 information, visit the company's Web site at www.budget.com .
 
     Statements made in this press release that are not historical in nature
 may include 'forward-looking statements' within the meaning of the federal
 securities laws.  It is important to note that these statements involve a
 number of risks, uncertainties and other factors that could cause Budget
 Group, Inc.'s actual results to differ materially from those projected in such
 forward-looking statements.  Additional information concerning such matters is
 contained in documents filed by the Company with the SEC, all of which are
 available from the SEC.
 
 

SOURCE Budget Group, Inc.
    LISLE, Ill., April 3 /PRNewswire/ -- Budget Group, Inc. (NYSE:   BD)
 announced today that it is reorganizing its French network of rental locations
 into major regional franchise territories.  Included in the reorganization is
 the refranchising of nearly all of the Company's corporate French locations,
 transforming the country into a ninety percent franchised operation.
     Budget Rent a Car International has negotiated agreements with a
 number of investors, nearly all of whom are current Budget franchisees.
 These transactions are expected to close throughout April and May.  The
 refranchising represents the second step in the execution of Budget's
 scale-back strategy to substantially reduce financial and operating risk
 in Europe.  The Company recently completed the sale of its Birmingham and
 Manchester, England locations to a Budget franchisee.
     Jack Frazee, president and chief operating officer of Budget Rent a Car
 International stated, "This restructuring program mirrors what we have already
 implemented in the UK and are now starting in other European corporate
 locations.  The investors we have secured for the expanded regional franchises
 were selected on the basis of their industry expertise, local market knowledge
 and strong focus on high levels of customer service."
     Meanwhile, Budget will retain corporate control of select locations at
 the Paris and Nice gateway airports, as well as Paris railway stations and
 downtown locations.  In addition, Budget will continue to manage the
 administration of large corporate accounts and serve the growing international
 customer base from the rest of Europe, the Middle East, Africa, North America
 and Asia Pacific.
     Through the reorganization, Budget France will also be able to achieve
 better fleet utilization and higher levels of service through a more effective
 management of the business.  The strategy will enable Budget France to combine
 the flexibility offered by a franchise network with the service guarantee of a
 corporate network.
     Budget Group, Inc. owns Budget Rent a Car Corporation and Ryder TRS.
 Budget is the world's third largest car and truck rental system and Ryder
 TRS is the nation's second largest consumer truck rental company.  For more
 information, visit the company's Web site at www.budget.com .
 
     Statements made in this press release that are not historical in nature
 may include 'forward-looking statements' within the meaning of the federal
 securities laws.  It is important to note that these statements involve a
 number of risks, uncertainties and other factors that could cause Budget
 Group, Inc.'s actual results to differ materially from those projected in such
 forward-looking statements.  Additional information concerning such matters is
 contained in documents filed by the Company with the SEC, all of which are
 available from the SEC.
 
 SOURCE  Budget Group, Inc.

RELATED LINKS

http://www.budgetrentacar.com