Avis Budget Group Completes Acquisition of Zipcar

Avis Budget Group Completes Acquisition of Zipcar

PARSIPPANY, N.J. and CAMBRIDGE, Mass., March 14, 2013 (GLOBE NEWSWIRE) -- Avis
Budget Group, Inc. (Nasdaq:CAR) announced today that it has completed its
previously announced acquisition of Zipcar, Inc., the world's leading car
sharing network.

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Zipcar

About Avis Budget Group, Inc.

Avis Budget Group, Inc. is a leading global provider of vehicle rental
services, both through its Avis and Budget brands, which have more than 10,000
rental locations in approximately 175 countries around the world, and through
its Zipcar brand, which is the world's leading car sharing network, with more
than 775,000 members. Avis Budget Group operates most of its car rental
offices in North America, Europe and Australia directly, and operates
primarily through licensees in other parts of the world. Avis Budget Group has
approximately 29,000 employees and is headquartered in Parsippany, N.J. More
information is available at www.avisbudget.com.

The Avis Budget Group, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8891

The Zipcar, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=17488

Forward-Looking Statements

Certain statements in this press release constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements. Statements preceded by, followed by or that
otherwise include the words "believes," "expects," "anticipates," "intends,"
"projects," "estimates," "plans," "may increase," "may fluctuate," "will,"
"should," "would," "may" and "could" or similar words or expressions are
generally forward-looking in nature and not historical facts. Important risks,
assumptions and other important factors that could cause future results to
differ materially from those expressed in the forward-looking statements are
specified in Avis Budget Group's Annual Report on Form 10-K for the year ended
December 31, 2012, including under headings such as "Forward-Looking
Statements", "Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations" and in other filings and
furnishings made by the Company with the Securities and Exchange Commission
from time to time. The Company undertakes no obligation to release publicly
any revisions to any forward-looking statements, to report events or to report
the occurrence of unanticipated events.

CONTACT: Media
         John Barrows
         (973) 496-7865
         PR@avisbudget.com
        
         Investor Relations
         Neal Goldner
         (973) 496-5086
         IR@avisbudget.com

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