Press Release Details

PARSIPPANY, N.J., Jan. 29, 2015 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (Nasdaq:CAR), a leading provider of vehicle rental services, announced today that it has completed its previously announced acquisition of its licensee for the Avis and Budget brands in Norway, Sweden and Denmark. The licensee acquired operates both the Avis and Budget brands at major locations throughout the region including Oslo, Stockholm, Copenhagen and Sweden's Arlanda and Goteberg airports. The purchase price of approximately $50 million was funded with available cash.

About Avis Budget Group

Avis Budget Group, Inc. is a leading global provider of vehicle rental services, both through its Avis and Budget brands, with 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 900,000 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 30,000 employees and is headquartered in Parsippany, N.J. For more information, visit www.avisbudgetgroup.com.

CONTACT: Media Contact:

         John Barrows

         973-496-7865

         PR@avisbudget.com

         

         Investor Contact:

         Neal Goldner

         973-496-5086

         IR@avisbudget.com