Seattle-Based Flexcar Acquires CarSharing Portland

Apr 20, 2001, 01:00 ET from Flexcar

    SEATTLE, April 20 /PRNewswire Interactive Press Release/ -- Flexcar, a
 Seattle-based company that offers shared access to vehicles, has acquired its
 Portland, Ore. counterpart, CarSharing Portland, the company announced this
 week at the North American Shared Car Conference in Atlanta.  Terms of the
 transaction were not disclosed.
     Flexcar, the largest car sharing company in the U.S., is the first car
 sharing company to expand to a second city. According to Flexcar CEO
 Neil Peterson, the Portland acquisition is the first in a series of major
 expansions planned nationwide for the rapidly growing company. Flexcar has
 grown to 40 cars and more than 1,300 members since it launched 15 months ago.
 The acquisition brings the total number of cars to 65 with more than
 1,800 members in Portland and Seattle. The expanded Flexcar service will give
 Portland and Seattle members access to vehicles in both cities. "After a
 successful beta test in Seattle, we're on track to take our concept to other
 cities," Peterson said.
     Peterson is excited to be associated with the Portland operation, headed
 by Dave Brook, "a leader in the industry" who will continue to direct the
 Portland operation.
     "This acquisition is very good for Portland and will enable the program to
 grow substantially as we continue to promote new mobility options," Brook
 said. "The car sharing program is a natural connection between Portland and
 Seattle and will benefit members in both cities by providing greater access to
 shared vehicles."
 
     About Flexcar
     Established in January 2000, Flexcar is a membership-based car sharing
 service marketed to individuals, businesses, and government organizations.
 Flexcar members have joint access to a fleet of vehicles owned or leased by
 the company and dispersed throughout targeted urban residential and business
 neighborhoods. Members use the vehicles only when they need them, and pay for
 them only when they use them. The service allows people to have the freedom
 and flexibility afforded by access to a vehicle, without having to pay the
 high costs of vehicle ownership.
 
     About CarSharing Portland
     Launched in March 1998, CarSharing Portland is the first car sharing
 service in the U.S. CarSharing Portland has continued to grow consistently
 with several hundred members and 25 vehicles at 23 different locations
 throughout neighborhoods in and around downtown Portland.
 
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SOURCE Flexcar
    SEATTLE, April 20 /PRNewswire Interactive Press Release/ -- Flexcar, a
 Seattle-based company that offers shared access to vehicles, has acquired its
 Portland, Ore. counterpart, CarSharing Portland, the company announced this
 week at the North American Shared Car Conference in Atlanta.  Terms of the
 transaction were not disclosed.
     Flexcar, the largest car sharing company in the U.S., is the first car
 sharing company to expand to a second city. According to Flexcar CEO
 Neil Peterson, the Portland acquisition is the first in a series of major
 expansions planned nationwide for the rapidly growing company. Flexcar has
 grown to 40 cars and more than 1,300 members since it launched 15 months ago.
 The acquisition brings the total number of cars to 65 with more than
 1,800 members in Portland and Seattle. The expanded Flexcar service will give
 Portland and Seattle members access to vehicles in both cities. "After a
 successful beta test in Seattle, we're on track to take our concept to other
 cities," Peterson said.
     Peterson is excited to be associated with the Portland operation, headed
 by Dave Brook, "a leader in the industry" who will continue to direct the
 Portland operation.
     "This acquisition is very good for Portland and will enable the program to
 grow substantially as we continue to promote new mobility options," Brook
 said. "The car sharing program is a natural connection between Portland and
 Seattle and will benefit members in both cities by providing greater access to
 shared vehicles."
 
     About Flexcar
     Established in January 2000, Flexcar is a membership-based car sharing
 service marketed to individuals, businesses, and government organizations.
 Flexcar members have joint access to a fleet of vehicles owned or leased by
 the company and dispersed throughout targeted urban residential and business
 neighborhoods. Members use the vehicles only when they need them, and pay for
 them only when they use them. The service allows people to have the freedom
 and flexibility afforded by access to a vehicle, without having to pay the
 high costs of vehicle ownership.
 
     About CarSharing Portland
     Launched in March 1998, CarSharing Portland is the first car sharing
 service in the U.S. CarSharing Portland has continued to grow consistently
 with several hundred members and 25 vehicles at 23 different locations
 throughout neighborhoods in and around downtown Portland.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X61160957
 
 SOURCE  Flexcar