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ANC Rental Corporation announced today that Lawrence RAMAEKERS, Chief Executive Officer and President, has informed the Board of Directors that he intends to return to retirement at the end of 2002. Plamondon William, currently the ANC Chief Restructuring Officer and a Car Industry veteran, was ANC's Chief Executive Officer and will work with Mr. RAMAEKERS, as Chief Restructuring Officer by the end of this year to ensure a smooth transition.

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'ANC has laid the groundwork for a successful reorganization, "" Mr. RAMAEKERS said. "" Given how far ANC has made, this is probably the most appropriate time for me to change my long-awaited retirement, without the restructuring effort. ""

Bill Plamondon, which begin immediately as CEO, thanked Mr. RAMAEKERS ANC for turning the business around. "Larry has this business for the future", "Mr. Plamondon said. "" Now our efforts must focus on completing the restructuring and building a strong, profitable businesses. I look forward to working with our entire management team and our creditors in order to achieve these goals. "Mr. Plamondon said:" We have worked closely and cooperatively with Lehman Brothers, our largest creditor, and other major creditors. They have taught their confidence in the new management team and their continued support for our efforts to a successful reorganization. "

Andrew Goldman, speaking for the ANC creditors' committee said: "We look forward to continued cooperation with the ANC on the road to a successful reorganization. "

Mr. RAMAEKERS, 65, a veteran turnaround specialist, joined the ANC of retirement in October 2001. Shortly after the ANC Chapter 11 filing in November 2001, Mr. RAMAEKERS was ANC President and Chief Operating Officer. In April 2002 Mr RAMAEKERS was the company as Chief Executive Officer.

Bill Plamondon, 55, was ANC's Chief Restructuring Officer since October 2001 and on the board of directors of the ANC since June 2000. Mr. Plamondon founded RI Heller Company LLC, a management consulting firm, in April 1998, and served as its President and Chief Executive Officer. Mr. Plamondon has also, as President and Chief Executive Officer of First Merchants Acceptance Mark Corporation, a national financing of the Company and as President of Budget Rent-A-Car. Mr. Plamondon worked at Budget Rent-A-Car from 1978 to 1997.

ANC Rental Corporation, headquartered in Fort Lauderdale, is one of the world's largest car rental company with annual sales of approximately $ 3.2 billion. ANC, the parent company of Alamo Rent-a-Car and National Car Rental, has more than 3,000 locations in 69 countries. The more than 17,000 employees worldwide, customers around the world with an average daily fleet of more than 275,000 automobiles.

Certain statements and information contained in this press release are "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results , performance or achievements of the Company materially from any future results, performance or achievements expressed or implied in such forward-looking statements. Further discussion of the factors that could cause actual results to differ materially from the management projections, forecasts, estimates and expectations is in society SEC.