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Avis Budget Group Announces Early Results Of Tender Offer For 9 5/8% Senior Notes Due 2018 And 9.75% Senior Notes Due 2020

Stocks in this article: CAR

Additional Information

The Issuers have retained Barclays Capital Inc. to act as the Dealer Manager for the Offers.  D.F. King & Co., Inc. is the Information Agent and Tender Agent for the Offers.  Questions regarding the Offers should be directed to Barclays Capital Inc. at 800-438-3242 (toll free) or 212-528-7581 (collect).  Requests for documentation should be directed to D.F. King & Co., Inc. at 212-269-5550 (banks and brokers) and 800-967-4617 (all others).  This press release is for informational purposes only.  This press release is not an offer to purchase or a solicitation of an offer to purchase with respect to any Notes or any other securities.  The Offers are being made solely pursuant to the Offer to Purchase and related documents.  The Offers are not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the Offers to be made by a licensed broker or dealer, the Offers will be deemed to be made on behalf of the Issuers by the Dealer Manager, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction. None of the Company, the Issuers, the Dealer Manager, the Information Agent or the Tender Agent makes any recommendation as to whether holders should tender or refrain from tendering their Notes. Holders must make their own decision as to whether to tender Notes and, if so, the principal amount of the Notes to tender.

About Avis Budget Group, Inc.

Avis Budget Group, Inc. is a leading global provider of vehicle rental services, both through its Avis and Budget brands, which have more than 10,000 rental locations in approximately 175 countries around the world, and through its Zipcar brand, which is the world's leading car sharing network, with more than 775,000 members.  Avis Budget Group operates most of its car rental offices in North America, Europe and Australia directly, and operates primarily through licensees in other parts of the world. Avis Budget Group has approximately 29,000 employees and is headquartered in Parsippany, N.J. More information is available at www.avisbudgetgroup.com .

Forward-Looking Statements

Certain statements in this press release constitute "forward-looking statements."  Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  Statements preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans," "may increase," "may fluctuate," "will," "should," "would," "may" and "could" or similar words or expressions are generally forward-looking in nature and not historical facts.  Important risks, assumptions and other important factors that could cause future results to differ materially from those expressed in the forward-looking statements are specified in Avis Budget Group's Annual Report on Form 10-K for the year ended December 31, 2012, including under headings such as "Forward-Looking Statements," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and in other filings and furnishings made by the Company with the Securities and Exchange Commission from time to time.  The Company undertakes no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events.

CONTACT: John Barrows
         973-496-7865
         PR@avisbudget.com
         
         Neal Goldner
         973-496-5086
         IR@avisbudget.com

Avis Budget Group, Inc. Logo

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