Dollar Thrifty Automotive Group Sets Strategy In Motion; Acquires Hawaii FranchiseContact:
Executive Director - Investor Relations
Chief Financial Officer
TULSA, OKLAHOMA, February 5, 2003: Dollar Thrifty Automotive Group, Inc. (NYSE:DTG) today announced the acquisition of the Thrifty Car Rental franchise in Hawaii. Acquisition of the Thrifty locations in Hawaii comes approximately one month after DTG launched a new corporate structure and growth strategy. The acquisition of the Thrifty franchise adds six locations including: in-terminal operations at Kahului, Maui; Lihue, Kauai; Kona and Hilo on the Big Island; as well as locations off airport in Honolulu and Waikiki. Terms of the agreement, which became effective February 1, were not disclosed.
“We are extremely pleased to announce the acquisition of the Thrifty Car Rental Hawaii operations, Gary L. Paxton, DTG President and Chief Operating Officer – Corporate Operations, said. “We believe this acquisition will provide great momentum to our previously announced expansion efforts.”
Jay Foley, Dollar Thrifty Automotive Group Executive Vice President - U.S. Corporate Operations, said, “We are looking forward to operating the Thrifty brand corporately in the state of Hawaii. The transition will be invisible to our customers. Both the Dollar and Thrifty locations will present separate and distinct brands to the consumer. Both will continue to serve their own accounts and loyal customers with the same high level of service that has been in place for many years. With the addition of the Thrifty locations, we have over 550 employees in the state of Hawaii. At the time of this transaction, Thrifty was operating a fleet of 1,500 vehicles in the state.”
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 over 800 corporate and franchised locations in the United States and Canada.