DTG Acquires Thrifty Franchise in Memphis

TULSA, Okla. -- Dollar Thrifty Automotive Group Inc. announced the acquisition of the Thrifty Car Rental franchise in Memphis, Tenn.

The purchase includes the Thrifty operation at Memphis International Airport as well as a suburban location. Terms of the agreement were not disclosed.

"We are looking forward to operating the Thrifty brand corporately in Memphis," said Jay Foley, senior executive vice president for corporate operations. "DTG's acquisition of these franchised locations is consistent with our plan to operate larger U.S. locations corporately."

The Memphis acquisition adds approximately 300 vehicles to DTG's corporate operations. As a result of DTG's aggressive acquisition activities and the opening of greenfield locations, the company has added approximately 14,000 vehicles on an annualized basis to the company's U.S. rental fleet in 2003. For the first nine months of this year, DTG's corporate U.S. rental fleet averaged approximately 75,000 vehicles.

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