Dollar and Thrifty Group Record Third Quarter Growth Over 40 Percent in Middle East and North Africa

November 18, 2004 (PRLEAP.COM) Business News
Dollar Thrifty Automotive Group Inc. (NYSE: DTG), one of the region's leading car rental companies, today announced a 42 percent increase in its Middle East and North Africa (MENA) business from January to September 2004 over the same period last year.

The company, which supplies more than 14,000 automobiles to the region under the Dollar Rent A Car and Thrifty Car Rental brands, received a major boost in markets such as Bahrain, Jordan, Kuwait, Lebanon, Oman, Qatar, Turkey and the UAE.

"Externally, a combination of factors, from special events such as the Formula One activities in Bahrain, to ongoing tourism efforts in markets such as Lebanon and the Gulf, contributed to DTG's considerable growth during the first nine months of this year. DTG itself has driven this increase by launching new reservation tools, enhancing relations with major international travel groups, and improving customer service in conjunction with our regional licensing partners,' commented Sam Eltibi, regional director, MENA, Dollar Thrifty Automotive Group.

"Dollar and Thrifty's 42 percent growth in the MENA countries from January to September is especially significant given that other regions such as Europe and Asia Pacific recorded lesser gains over the same period. Clearly the Middle East and North Africa markets are witnessing major growth in both tourism and business travel, and Dollar and Thrifty licensees have positioned themselves strategically to capitalize on this traffic,' he added.

Eltibi outlined a number of regional and global initiatives aimed at further increasing the company's market share. DTG has introduced the Dollar Rent A Car brand to both the UAE and Bahrain markets, with additional regional launches in the works. DTG is also introducing prepaid Internet vouchers to be used at its nearly 70 locations around the region. Finally, the company is increasing brand awareness regionally through targeted advertising in the Levant and GCC markets.

As part of its regional expansion program, Dollar aims to open 20 new outlets in the MENA region, including three in the United Arab Emirates, to support its Dubai headquarters.

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About the Dollar Thrifty Automotive Group

Dollar Thrifty Automotive Group, Inc. is a Fortune 1000 Company headquartered in Tulsa, Oklahoma. Driven by the mission "Value Every Time,' the Company's brands, Dollar Rent A Car and Thrifty Car Rental, serve value-conscious travelers in approximately 70 countries. Dollar and Thrifty have approximately 800 corporate and franchised locations in the United States and Canada, and they have operations at most major airports. The Company's more than 8,000 employees are located mainly in North America, but global service capabilities exist through an expanding international franchise network. For additional information, visit

Some of the statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Dollar Thrifty Automotive Group, Inc. believes such forward-looking statements are based upon reasonable assumptions, such statements are not guarantees of future performance and certain factors could cause results to differ materially from current expectations. These factors include: price and product competition; economic and competitive conditions in markets and countries where the companies' customers reside and where the companies and their franchisees operate; airline travel patterns; changes in capital availability or cost; costs and other terms related to the acquisition and disposition of automobiles; costs of conducting business and changes in structure or operations; and certain regulatory and environmental matters. Should one or more of these risks or uncertainties, among others, materialize, actual results could vary from those estimated, anticipated or projected. Dollar Thrifty Automotive Group, Inc. undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.