DTG Acquires 16 Thrifty Franchise Locations

TULSA, OKLAHOMA -- Dollar Thrifty Automotive Group (DTG) today announced the acquisition of the Thrifty Car Rental franchise operations in Atlanta, Houston and Ontario, Calif. These acquisitions, consistent with DTG's corporate growth strategy, add 16 locations and approximately 3,500 vehicles to DTG's corporate operations.

"These acquisitions confirm DTG's continuing success in executing an aggressive internal growth strategy which includes operating larger U.S. locations corporately," said Gary L. Paxton, DTG president and COO for corporate operations. "Our purchases of key franchise operations, along with the opening of greenfield locations, have now added approximately 6,500 vehicles to our fleet since the beginning of 2003."

With these additions, DTG's corporate locations now operate a fleet of 74,000 vehicles at 202 locations in the U.S.

"The acquisitions and opening of greenfield locations allow us to grow DTG's revenue despite the ongoing difficult conditions in the travel industry," Paxton said.

This year, DTG has also acquired the Thrifty franchise operations in Hawaii and Manchester, N.H. Moreover, the company opened greenfield locations in Charlotte, N.C.; Milwaukee, Wis.; Daytona Beach, Fla.; and Tucson, Ariz.

"Our accretive franchise acquisition efforts will continue and we expect to announce additional transactions in the near future," Paxton said.

Acquisition of the Thrifty Atlanta franchise, effective August 1, includes in-terminal operations at Hartsfield Airport, the third largest U.S. airport car rental market. Also included are company-operated locations in College Park, Marietta and Atlanta, and four agency locations in Norcross, Decatur, Lawrenceville and Tucker, Ga.

Also effective August 1, DTG will acquire the Thrifty Ontario, Calif., operation located off-airport at the Ontario International Airport.

The Houston Thrifty acquisition, which becomes effective Sept. 15, adds seven locations in the Houston area to DTG's corporate operations, including in-terminal locations at Houston's Intercontinental and Hobby airports. Other locations include the Galleria, Medical Center, Southwest, West, and North Loop sections of Houston.

Paxton said transition of the 16 locations from franchise to corporate operations will be virtually invisible to Thrifty's customers.

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