[May 28, 2008]

Avis Budget Group, Inc. Purchases a License under the Ronald A. Katz Technology Licensing, L.P. Patents

LOS ANGELES --(Business Wire)-- Avis Budget Group, Inc. (NYSE:CAR), a leading provider of vehicle rental services, headquartered in Parsippany, N.J., has purchased a license under the patent portfolio held by Ronald A. Katz Technology Licensing, L.P. and licensed through its affiliate, A2D, L.P. The nonexclusive license covers services offered by Avis Budget Group in the "Travel and Transportation Services" Field of Use, including customer service delivered through automated systems and live agents. Other terms of the license were not disclosed.

The patents held by Ronald A. Katz Technology Licensing, L.P. cover a wide range of interactive technology including automated forms of: customer service, prescription refill services, securities trading, merchandising, prepaid services, telephone conferences, registration, home shopping, as well as functions involved in securing information from databases by telephone, interactive cable transactions, and various other uses of toll-free and local numbers.

Ronald A. Katz stated, "We welcome Avis Budget Group to the large group of companies who have purchased a license under this portfolio."

There are over 225 companies with license rights under this portfolio, including over 25 energy and utility companies. Companies with license rights under this portfolio include: Advanta Corp., Alltel Corporation, American Century, American Express, Ameritrade Holding Corporation, Atmos Energy Corporation, Automatic Data Processing, Inc., AT&T Inc., Avon Products, Inc., Bank of America Corporation, BB&T Corporation, Capital One Services Inc., Certegy Inc., Chevron U.S.A. Inc., Continental Airlines, Countrywide Financial Corporation, Dell Inc., Delta Air Lines, Inc., Discover Financial Services, Edward D. Jones & Co., L.P., Equifax Inc., Experian, Express Scripts, First Data Corporation, The Gallup Organization, Hewlett-Packard Company, Hilton Hotels Corporation, Home Shopping Network Inc., Household International, Inc., HSBC Bank USA, ING North America Insurance Corp., International Business Machines (IBM), KeyCorp, LaSalle Bank Corporation, Leap Wireless International, Inc., Massachusetts Mutual Life Insurance Company, MCI Inc., Mellon Financial Corporation, Merck & Co., Merrill Lynch & Co., Inc., Metris Companies Inc., Microsoft, Morgan Stanley, Nationwide, New York Life Insurance Company, OppenheimerFunds, Inc., People's Bank, The PNC Financial Services Group, Inc., Principal Financial Group, Inc., Prudential Financial, Inc., Qwest Communications International Inc., QVC, Inc., Regions Financial Corporation, Safeway Inc., Sears, Roebuck and Co., Sprint Corporation, SouthTrust Bank, Sunoco, Inc., SUPERVALU INC., T. Rowe Price Associates, Inc., T-Mobile USA, United Air Lines, Inc., The Vanguard Group, Inc., Verizon California Inc. and its affiliates, Wachovia Corporation, Walgreen Co., Wal-Mart Stores, Inc., WellPoint, Inc., Wells Fargo & Company, West Corporation and Zions Bancorporation.

Mr. Katz is the named inventor on a large number of patents primarily in the fields of telecommunications and computing. He also formed Telecredit, Inc., the nation's first on-line real time credit and check cashing authorization system, and was awarded a patent as co-inventor of that technology.

Avis Budget Group is a leading provider of vehicle rental services, with operations in more than 70 countries.

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