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Filed
pursuant to Rule 433
Registration
Statement No. 333-141832
Avis
Budget Group Announces Filing of
Exchange
Offer Registration Statement for Senior Notes
PARSIPPANY,
N.J., April 3, 2007 -
Avis
Budget Group, Inc. (NYSE:
CAR),
a
leading provider of vehicle rental services, today announced that it has
filed a
Form S-4 registration statement with the Securities and Exchange Commission.
The
registration statement relates to the Company’s proposed offer to exchange the
Floating Rate Senior Notes due 2014, 7.625% Senior Notes due 2014 and 7.75%
Senior Notes due 2016 issued by its subsidiaries Avis Budget Car Rental,
LLC and
Avis Budget Finance, Inc. for like principal amounts of securities with
substantially the same terms, except with respect to transfer restrictions,
registration rights and additional interest provisions. The new notes will
be
issued by Avis Budget Car Rental, LLC and Avis Budget Finance, Inc. and
guaranteed by Avis Budget Group and certain of its subsidiaries, which are
the
same parties that are guarantors of the outstanding notes. The exchange offer
will be conducted pursuant to the terms and subject to the conditions stated
in
the prospectus for such offer, which can be viewed online here
(http://www.sec.gov/Archives/edgar/data/723612/000119312507073015/ds4.htm),
only
after the registration statement is declared effective by the
SEC.
Before
you invest, you should read the prospectus in the registration statement
and
other documents the Company has filed with the SEC for more complete information
about the issuers and this offering. You may get these documents at no cost
by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Company
will arrange to send you the prospectus if you request it by writing to Avis
Budget Group, Inc., 6 Sylvan Way, Parsippany, N.J. 07054, Attention: Investor
Relations or by calling toll-free at (800)700-7870.
The
Company also noted that the Company’s Annual Report on Form 10-K for 2006, filed
on March 1, 2007, includes Selected Quarterly Financial Data for second quarter
2006. As indicated in the 2006 Form 10-K, such Selected Quarterly Financial
Data
for second quarter 2006 reflects the correction of a previously disclosed
error
related to the impairment charge on the disposal of Travelport, Inc., our
former
subsidiary that holds the assets and liabilities of our former Travel
Distribution businesses. The effect of the correction was to recognize an
additional impairment charge of $300 million related to Travelport in second
quarter 2006, with a corresponding decrease in the loss on the sale recognized
in third quarter 2006. The Company will also reflect the correction related
to
the impairment charge on the disposal of Travelport in its restated interim
financial statements for second quarter 2006, which will be included in the
Company's Quarterly Report on Form 10-Q for second quarter 2007. With the
filing
of the 2006 Form 10-K and the Company’s amended Annual Report on Form 10-K/A for
2005 also filed on March 1, 2007, all restatements announced by the Company
in
November 2006 related to 2005 and prior periods have been completed and filed
with the SEC.
About
Avis Budget Group, Inc.
Avis
Budget Group is a leading provider of vehicle rental services, with operations
in more than 70 countries. Through its Avis and Budget brands, the company
is
the largest general-use vehicle rental company in each of North America,
Australia, New Zealand and certain other regions. Avis Budget Group is
headquartered in Parsippany, N.J. and has more than 30,000 employees. For
more
information about Avis Budget Group, visit www.avisbudgetgroup.com.
Media
Contacts:
John
Barrows Susan
McGowan
(973)
496-7865 (973)
496-3916
Investor
Contact:
David
Crowther
(973)
496-7277
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