Avis Budget Group Amends Principal Credit Facility

Avis Budget Group, Inc. CAR announced today that its wholly-owned subsidiary, Avis Budget Car Rental, LLC, has amended its corporate revolving credit facility, extending the maturity date to 2016, expanding capacity to $1.2 billion, and reducing its borrowing spread under the facility by 150 basis points. The Company expects to generate more than $5 million in interest expense savings in 2011 as a result of the transaction. In addition, the Company expects that the terms and conditions of the amended credit facility will provide it with additional financial flexibility to pursue its strategic objectives, including the potential acquisition of Dollar Thrifty.