FT. LAUDERDALE, Fla. -- Vanguard Car Rental USA Inc., which operates the National Car Rental and Alamo Rent A Car brands, plans to move its headquarters to the Tulsa, Okla., area by the end of the year.

The announcement was made in Tulsa by Oklahoma Governor Brad Henry, Tulsa Mayor Bill LaFortune and Vanguard President and CEO William E. Lobeck.

The move is expected to be completed by late 2004. Lease negotiations for the new Tulsa location are currently being finalized, and the site will be announced shortly. The company currently is headquartered in Fort Lauderdale, Fla. It is expected that the move will eventually add close to 700 jobs to the Tulsa area.

"The state of Oklahoma and the cities of Tulsa and Owasso showed they wanted our company to join their growing economic community," Lobeck said. "The incentives they offered, as well as the access to a well-qualified workforce in a geographically central location, were major components of our decision. This move will significantly reduce our current costs."

Vanguard acquired the Alamo and National brands in October 2003. A group of investors owns Vanguard Car Rental USA Inc.

The National and Alamo brands generated worldwide annual revenues of approximately $2.4 billion in 2002. The organization employs more than 14,000 associates, has more than 3,200 locations in 83 countries, and operates a fleet of more than 217,000 automobiles.