|January 12, 2001|
Budget To Sell UK Corporate Operations In Manchester And Birmingham
|Budget Group, Inc. today announced that it has signed a letter of intent to sell its corporate operations in Manchester and Birmingham, England to Jaeban U.K., Ltd., a current Budget franchisee. The sale of the operations, which collectively operate over 1,000 vehicles, represents a significant step in the Company's strategy to reduce its exposure in Europe by franchising corporate operations there. The Company anticipates the closing of the agreement within the first quarter.|
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.