Dollar Thrifty Automotive Sees FY2011 Revenues in Line with 2010

Dollar Thrifty Automotive Group, Inc. DTG is providing updated guidance for revenue, Corporate Adjusted EBITDA and fleet cost expectations for the full year of 2011. The Company's updated revenue guidance is primarily influenced by the rate per day environment experienced in the first six months of 2011. If the rate environment continues to remain under pressure during the second half of 2011, the Company would expect that rate environment, combined with single digit rental day growth, to result in full year 2011 revenues in line with 2010. The Company reported that it has substantially completed its 2012 fleet purchase negotiations and the overall economics were favorable to expectations. Additionally, the Company noted that the used vehicle market has been very robust throughout the first half of the year, and the Company expects that trend to continue through the back half of the year, subject to normal seasonal adjustments. Finally, the Company noted that it expects the used car market to be slightly less robust in 2012 than 2011, although better than its previously stated outlook for 2012 and beyond. Accordingly, the Company is lowering its fleet cost outlook for the full year of 2011, which it now expects to range from $215 - $225 per vehicle per month. Based on the factors outlined above, the Company is currently targeting Corporate Adjusted EBITDA for the full year of 2011 to be within a range of $270 million to $290 million. This estimate excludes the impact of merger-related expenses incurred to date and that may be incurred in the second half of 2011.