Press Release Details

PARSIPPANY, N.J., Feb. 9, 2015 (GLOBE NEWSWIRE) -- Avis Budget Group (Nasdaq:CAR) today announced that it has signed an agreement with Barloworld Ltd, which operates the Avis Car Rental brand in southern Africa, to also operate the Budget Car Rental brand there, effective March 1, 2015. The agreement offers both companies an opportunity to leverage Barloworld's extensive knowledge of the car rental market to grow and develop the Budget brand across southern Africa.

"Avis Budget Group is delighted to be extending its relationship with Barloworld to include Budget," said Troy Warfield, commercial and licensee director, Avis Budget Europe, Middle East and Africa (EMEA). "The combination of Barloworld and our global network positions Budget Car Rental to continue to grow and prosper today and in the future."

"Barloworld has a 45-year history of partnership with Avis Budget Group, and proven experience successfully operating the Avis brand in southern Africa. We are thrilled to add the Budget brand to our portfolio as part of Avis Budget Group's multi-brand strategy," said Keith Rankin, chief executive of Avis Rent a Car Southern Africa.

Avis Car Rental in southern Africa has garnered numerous honors for outstanding customer service, including "Leading Car Rental Company" in South Africa at the 2014 World Travel Awards. The transition is expected to be seamless, with Budget customers continuing to receive the same high level of service they are accustomed to.

Under the license agreement, Barloworld will operate the Budget brand in Botswana, Lesotho, Malawi, Mozambique, Namibia, Swaziland, Zambia and Zimbabwe as well as South Africa. Barloworld already operates the Avis brand in Angola, Botswana, Lesotho, Malawi, Mozambique, Namibia, South Africa, Swaziland, Zambia and Zimbabwe.

About Avis Budget Group

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 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. More information is available at www.avisbudgetgroup.com.

CONTACT: John Barrows

         (973) 496-3916

         PR@avisbudget.com