| Parsippany, NJ May 2, 2005 -
Cendant Car Rental Group, Inc., owner of Avis Rent A Car System, Inc. and Budget Rent A Car System, Inc., today announced management changes to support its efforts to expand its local market/off-airport network by more than 500 locations in the United States during the next three years and to serve the insurance replacement segment.
Leading the effort will be Ray Koch who has been appointed vice president of off-airport development. He brings more than 30 years of industry experience as a station, fleet, city and district manager. Most recently, Koch was regional manager for the Washington/Baltimore operations at Cendant Car Rental Group. He will be based in Parsippany.
In addition, Vance Watson has been named vice president of off-airport expansion. Watson, former vice president of off-airport and licensee operations for Budget, has more than 18 years of car rental experience and joined Cendant Car Rental Group when the company acquired Budget in 2002.
“We are committed to expanding our presence in the local market, ” said Michael Collins, executive vice president of operations for Cendant Car Rental Group. “Together, Koch and Watson have nearly a half century of experience and industry knowledge, which makes them ideal leaders to drive this initiative.”
Cendant Car Rental Group now has nearly 1,300 off-airport locations in the United States. Avis operates more than 730 and Budget, nearly 550.
About the Cendant Car Rental Group
Cendant Car Rental Group, Inc., subsidiary of Cendant Corporation (NYSE: CD), is the largest car rental company serving North America, the Caribbean, Australia and New Zealand. Through its subsidiaries and franchisees, the company operates the Avis Rent A Car system, the industry leader in customer service, and the Budget Rent A Car system, the leading value-oriented rental car brand. For more information about Avis and Budget, visit www.avis.com and www.budget.com.
Senior Associate, Public Relations
Cendant Car Rental Group
6 Sylvan Way
Parsippany, NJ 07054
back to top