Europcar today announces the signing of a major strategic agreement with Vanguard Car Rental Holdings LLC ("Vanguard"), one of the leading passenger and light utility vehicle rental companies in North America, operating under the National Car Rental and Alamo Rent A Car brands. Under this agreement, Europcar is acquiring Vanguard's European businesses ("Vanguard EMEA") for an enterprise value of 670 million euros, thereby becoming the leading rental operator in the United Kingdom and strengthening the No. 1 position it has held in Europe since 2003. In addition, Europcar and Vanguard have signed a transatlantic partnership agreement enabling Europcar to attain a leadership position on the worldwide car rental market and to offer its clients a premier network in North America.

Europcar has become the first car rental company in Australia to operate Subaru cars.

Paris, December 20th, 2004, Europcar earned the distinction of being Europe's Leading Car Rental Company for the second consecutive year and was internationally acclaimed as the World's Leading Leisure Car Rental Company for the first time.