The new alliance, effective immediately, calls for all Sears Car Rental® locations to be converted to Avis Rent A Car operations and for special benefits and promotions to be marketed to Sears customers under the Avis® brand. Up to 45 Avis locations are expected to open at Sears facilities by the end of January 2003, with at least 100 more to follow over the next 3-5 years. Other key components of the alliance include:

• Avis will immediately become the only car rental company to accept the Sears Card, currently held by more than 30 million Sears customers;
• Avis will provide a unique Avis Worldwide Discount Number for Sears Card holders with discounted rates and special offers; and
• Avis will book reservations for Sears customers through a dedicated reservation number (1-800-527-0770), its own reservation center (1-888-777-AVIS) and the sears.com web site (sears.com/avis).

"Sears' decision to select Avis as its exclusive rental car partner represents a perfect alignment of two great brands," said Avis Executive Vice President of Operations Michael Collins. "Like Sears, Avis prides itself on our complete commitment to service and the deep loyalty of our customers. In particular, we look forward to the role that Sears locations will play in Avis' continuing growth in the suburban, off-airport market." 

"Through our partnership with Avis, Sears customers will have convenient access to exceptional car rental values combined with Avis' outstanding service," said Sears Vice President and General Manager, Licensed Businesses, John Pigott. "We are also pleased to be working with Avis to significantly increase the number of car rental locations at Sears stores."

Avis has been Sears' corporate supplier of rental car services for more than 10 years, winning Sears' prestigious "Partners in Progress" supplier award for the past two years.

About Avis

Avis Rent A Car System, Inc. and its subsidiaries operate the world’s second largest general-use car rental brand, providing business and leisure customers with a wide range of services at more than 1,700 locations in the United States, Canada, Australia, New Zealand and the Latin/American Caribbean region. Avis is one of the world’s top brands for customer loyalty, ranking as the number one brand overall among 158 ranked in the 2002 Brand Keys® Customer Loyalty Awards. The company is a wholly owned subsidiary of Cendant Corporation (NYSE: CD), a diversified global provider of business and consumer services primarily within the real estate and travel sectors.

About Sears 

Sears, Roebuck and Co. is a broadline retailer with significant service and credit businesses. In 2001, the company's annual revenue was more than $41 billion. The company offers its wide range of apparel, home and automotive products and services to families in the U.S. through Sears stores nationwide, including approximately 870 full-line stores. Sears also offers a variety of merchandise and services through its Web site, www.sears.com . In June 2002, Sears acquired Lands' End, a direct merchant of traditionally styled, classic Lands' End clothing offered to customers around the world through regular mailings of its specialty catalogs and online at www.landsend.com .