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Dollar Thrifty Automotive Group Announces Share Repurchase Program


Dollar Thrifty

TULSA, OK--February 24, 2011: Dollar Thrifty Automotive Group, Inc. today announced that the Company's Board of Directors has authorized a share repurchase program providing for the repurchase of up to $100 million of DTG stock.  The share repurchase program is discretionary and has no expiration date.  Shares will be repurchased at times and amounts based on market conditions and other factors.  Additionally, share repurchases will be subject to applicable purchase limitations under the Company's senior secured credit facilities.  The share repurchase program may be suspended or discontinued at any time.

"Over the past few years, the Company has demonstrated the ability to generate significant and sustainable cash flow.  While our primary focus is to invest in the business in a manner that generates a high return on assets, we will evaluate all appropriate alternatives for investment of cash, including the potential return of excess cash to our shareholders through the program we are announcing today," said Scott L. Thompson, President and CEO.

Subject to applicable law, the Company may repurchase shares directly in the open market, in privately negotiated transactions, or pursuant to derivative instruments or plans complying with SEC Rule 10b5-1, among other types of transactions and arrangements.  

About Dollar Thrifty Automotive Group, Inc.

Through its Dollar Rent A Car and Thrifty Car Rental brands, the Company has been serving value-conscious leisure and business travelers since 1950.  The Company maintains a strong presence in domestic leisure travel in virtually all of the top U.S. and Canadian airport markets, and also derives a significant portion of its revenue from international travelers to the U.S. under contracts with various international tour operators.  Dollar and Thrifty have approximately 300 corporate locations in the United States and Canada, with approximately 6,000 employees located mainly in North America.  In addition to its corporate operations, the Company maintains global service capabilities through an expansive franchise network of approximately 1,275 franchises in 82 countries.