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Dollar Thrifty Automotive Group Announces Executive Management Changes

Dollar Thrifty Automotive Group Announces Executive Management Changes

Contact:
Terri Snow
Executive Director - Investor Relations
(918) 669-2743

Steve Hildebrand
Chief Financial Officer
(918) 669-2288 

TULSA, OKLAHOMA, December 5, 2002: Dollar Thrifty Automotive Group, Inc. (NYSE: DTG), today announced changes to its executive management team. DTG previously announced its two operating companies (Dollar Rent A Car Systems, Inc. and Thrifty, Inc.), will be operating as a single company while continuing to support and grow both of its two strong brands independently (Dollar Rent A Car and Thrifty Car Rental).

Joseph E. Cappy remains DTG chairman and chief executive officer. Gary L. Paxton and Donald M. Himelfarb have been elevated to co-chief operating officers and co-presidents of DTG. The three have worked together as a team since 1993. Mr. Paxton, previously Dollar Rent A Car Systems, Inc. president, has been named DTG president and chief operating officer – corporate operations. Mr. Himelfarb, previously Thrifty, Inc. president, has been named DTG president and chief operating officer – marketing, franchising and administration.

DTG’s new organization includes one of the most experienced senior management teams in the car rental industry. Prior to being named DTG chairman, chief executive officer and president in 1997, Mr. Cappy was a vice president of Chrysler Corporation and former chief executive officer and president of American Motors. Mr. Cappy is a 46-year veteran of the automotive and car rental industry.

Responsibilities for Mr. Paxton include all U.S. corporate operated locations, Canadian operations, international sales and development, fleet operations and car sales. Mr. Paxton has over 34 years of experience in the car rental industry.

Mr. Himelfarb will be responsible for U.S. franchise operations, brand sales and marketing, technology services and all administrative functions. Mr. Himelfarb has 29 years of car rental industry experience.

Steve Hildebrand remains DTG executive vice president and chief financial officer, a position he has served in since 1997. Mr. Hildebrand first joined the car rental industry in 1987 and held various senior management positions with Thrifty Car Rental and Pentastar Transportation Group prior to his appointment with DTG.

Other senior management executives, all with the title of executive vice president, and their respective areas of responsibility are: Scott Anderson, marketing and U.S. franchise operations; Jay Betz, fleet operations and car sales; Yves Boyer, Canadian operations; Jay Foley, U.S. corporate operations; Peter Guptill, international; Rich Halbrook, administration; David Sparkman, finance; Lloyd St. Clair, information services; and Vicki Vaniman, general counsel.

About Dollar Rent A Car
Dollar Thrifty Automotive Group, Inc. is headquartered in Tulsa, Oklahoma, and has over 5,000 worldwide employees. Focused on being the low-cost provider in the car rental industry, the company’s brands, Dollar Rent A Car and Thrifty Car Rental, serve value-conscious leisure travelers in more than 70 countries. With operations at most major airports, Dollar and Thrifty have approximately 900 corporate and franchised locations in the United States and Canada.

Some of the statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Dollar Thrifty Automotive Group, Inc. believes such forward-looking statements are based upon reasonable assumptions, such statements are not guarantees of future performance and certain factors could cause results to differ materially from current expectations.

These factors include: price and product competition; economic and competitive conditions in markets and countries where the companies' customers reside and where the companies and their franchisees operate; airline travel patterns; changes in capital availability or cost; costs and other terms related to the acquisition and disposition of automobiles; costs of conducting business and changes in structure or operations; and certain regulatory and environmental matters. Should one or more of these risks or uncertainties, among others, materialize, actual results could vary from those estimated, anticipated or projected. Dollar Thrifty Automotive Group, Inc. undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.

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