AVIS SOUTHERN AFRICA LIMITED
AVIS CONCLUDES RCI SALE
Johannesburg, 1 March 2001 - Grenville Wilson, chief executive of Avis Southern
Africa, today announced that payment of R272.7 million had been received in
cash in respect of the disposal of Avis's 75% shareholding in RCI.
Wilson said the RCI transaction had been closed according to plan and in terms
of the circular to shareholders dated 16 January 2001. The proceeds would be
used to reduce borrowings pending the development of further expansion within
the group's core car rental and fleet management businesses.
For further information call Grenville Wilson on (011) 923 3768 or mobile 082
881 0025 or Andrew Langham on (011) 923 3763 or mobile 082 465 9534
Issued by du Plessis Associates on behalf of Avis Southern Africa, Limited.
dPA contact - Kathy du Plessis on Tel : (011) 728 4701, Fax : (011) 728 2547/8
or cell : 083-266-5847
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