Avis Budget Group Announces Commitment to Launch Exchange Offer for Dollar Thrifty

Avis Budget Group, Inc. CAR today sent a letter including the following statements to Dollar Thrifty Automotive Group, Inc. DTG: We believe that the Board of Directors of Dollar Thrifty should have declared our recent offer to be a superior proposal, and do not agree with the Board's purported reasons for not doing so. We believe that Dollar Thrifty shareholders deserve to receive the highest value for their investment, and the latest "best and final" offer from Hertz is not the highest value available to your shareholders. Based on our current analysis, the price being offered by Hertz provides double digit accretion in earnings to Hertz, while our higher offer would afford Dollar Thrifty shareholders an opportunity to participate in a larger share of the value to be created through a business combination.