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Car/Limo Rentals

 October 11, 2001
Budget Sells Four Territories In London; Two New Locations Opened

 Budget Rent a Car International has sold four territories in London to its second largest franchisee, Budgetlink Limited. Following the sale, two new Budget locations have opened in Mitcham and Uxbridge and six other new rental locations are planned over the coming 18 months. Terry Clark, vice president, franchise management, EMEA said: "The four territories complement our existing corporate operations in central London and at Heathrow, Gatwick and Stansted airports, and those of other franchisees in the suburbs of London. This development strengthens our franchise network and builds on our regional franchising strategies within our new contractual framework. We envisage substantial growth and market penetration over the coming years."

Mr Mahash Patel and Dr Tari Ranshi, joint managing directors of Budgetlink commented: "As one of Budget's longstanding franchisees, we are committed to the Budget brand and see considerable opportunity for the future. With these acquisitions, one of the areas of the business we propose developing in the new territories is the rental of speciality vehicles, namely prestige and sports cars."

Budgetlink has 17 rental locations in and around London, including the two recently opened locations in Mitcham and Uxbridge. All the locations will use Budget International's front counter system, BMS, by November 1.

Budget Rent a Car is a wholly-owned subsidiary of Budget Group Inc, and is one of the world's top three car and van rental companies. Budget has more than 3,200 corporate and licensee-operated locations in over 120 countries. In the UK, Budget operates around 110 locations and has seven corporate locations, comprising the three major international London gateway airports at Heathrow, Gatwick and Stansted plus four major downtown locations in the capital.