Press Release Details

PARSIPPANY, N.J., Nov. 8, 2012 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc.(Nasdaq:CAR)and Intrawest, a leading developer and operator of mountain resorts across North America, have entered into a multi-year partnership agreement. As part of the new agreement, Avis Car Rental and Budget Car Rental will be designated as the "official rental car" of each of Intrawest's properties, including Mont Tremblant Ski Resort, Steamboat Ski & Resort, Winter Park Resort, Snowshoe Mountain, Stratton Mountain, Canadian Mountain Holidays, the largest heli-skiing operation in the world, and Club Intrawest, the Company's private resort club.

"We are excited to strategically align ourselves with Intrawest's world-class properties across North America," said Stephen Wright, vice president of global travel and partnerships, Avis Budget Group. "Much like Avis Budget Group, Intrawest is committed to consistently delivering exceptional experiences to its customers. This new partnership will give us the opportunity to market our brands to their valuable customer-base and as a result, help us drive profitable growth to travelers from around the world."

The Avis Budget Group and Intrawest partnership will provide Intrawest's guests with discounts on Avis and Budget rentals around the globe. The car rental brands will be featured on signage at each of Intrawest's properties throughout North America and logo placement will be included on Intrawest's official website and each of the properties' websites. In addition, Avis Budget Group will include Intrawest in its call transfer program thereby offering interested customers the opportunity to make a reservation at Intrawest's family of ski resorts.

"We are proud to partner with Avis Budget Group to provide our guests with exceptional service and a convenient way to escape to some of the best resorts in the world," said Ian Arthur, chief marketing officer, Intrawest. "This partnership leverages our common goals and values, opening up a multitude of opportunities for both companies."

About Intrawest

Intrawest is an industry leader in the development and management of experiential destination resorts. The Company has a network of resorts at North America's most popular mountain destinations including Mont Tremblant Ski Resort, Steamboat Ski & Resort, Winter Park Resort, Snowshoe Mountain and Stratton Mountain. The Intrawest network also includes Canadian Mountain Holidays, the largest heli-skiing operation in the world, and Club Intrawest, a private resort club with exclusive locations across North America. In addition, Intrawest markets and sells real estate at its resorts in North America. Intrawest is headquartered in Denver, Colo.

About Avis Budget Group

Avis Budget Group, Inc. is a leading global provider of vehicle rental services through its Avis and Budget brands, with 10,000 rental locations in approximately 175 countries around the world. 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. For more information, visit www.avisbudgetgroup.com.

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

CONTACT: Alice Pereira

         (973) 496-6113

         PR@avisbudget.com