Payless, Sixt Form Rental Partnership

ST. PETERSBURG, Fla. -- Sixt AG and Payless Car Rental System have formed a partnership, giving customers of both companies access to an international network of more than 1,400 rental locations in more than 60 countries.

The arrangement calls for the exclusive exchange of reservations for their respective regions, mutual acceptance of their respective payment methods, and common use of booking channels. Those channels include the Internet, travel agencies and reservation centers.

"In Payless Car Rental, we have found an ideal partner who shares our vehicle rental philosophy," said Erich Sixt, chairman of the managing board of Sixt AG. "Like Sixt, the company is independent and has no ties to any particular vehicle manufacturer. It aims to continually implement new innovations to make vehicle rental simpler and easier for customers. As is the case at Sixt, this means that the Internet is playing a more and more important role as a series channel."

Added Michael J. Harley, president and chief operating officer of Payless Car Rental System: "The regional presence of both companies complements each other perfectly. I am confident that we will be able to profit from Sixt's strong market position in Europe."

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