Dollar Thrifty Automotive Group Provides Fourth Quarter Update

TULSA, Okla. /PRNewswire-FirstCall via COMTEX/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today provided an update on its outlook for the fourth quarter and full year of 2009. The Company announced that it expects fourth quarter Corporate Adjusted EBITDA to be within a range of $10 million to $15 million, up significantly from a loss of $43.4 million in the comparable quarter of 2008. Based on these expected results, the Company's full year 2009 Corporate Adjusted EBITDA would range from $83 million to $88 million, up from a loss of $2.3 million in 2008. The Company confirmed its prior guidance of an 8 to 10 percent decline in rental revenues for the full year of 2009 compared to 2008.

"Our strategy for 2009 involved a significant number of actions to return the Company to profitability while navigating through the significant challenges of the current economic downturn. We are very pleased with how the company has performed during 2009 and the way the year is ending. We believe the success of the actions taken in 2009, combined with our recent equity offering, position the Company well for 2010 and beyond," said Scott L. Thompson, Chief Executive Officer and President. "We greatly appreciate the support that we received in 2009 from our manufacturer partners, our lenders and our employees as we worked to significantly change the Company's direction and competitive position," said Thompson.

The above data relating to the fourth quarter results are preliminary estimates based on information available at this time, and will be updated in conjunction with the Company's fourth quarter earnings release.

About Dollar Thrifty Automotive Group, Inc.

Dollar Thrifty Automotive Group, Inc. is headquartered in Tulsa, Oklahoma. Driven by the mission "Value Every Time," the Company's brands, Dollar Rent A Car and Thrifty Car Rental, serve value-conscious travelers in over 70 countries. Dollar and Thrifty have over 600 corporate and franchised locations in the United States and Canada, operating in virtually all of the top U.S. and Canadian airport markets. The Company's approximately 6,400 employees are located mainly in North America, but global service capabilities exist through an expanding international franchise network.

This press release contains "forward-looking statements" about our expectations, plans and performance. These statements use such words as "may," "will," "expect," "believe," "intend," "should," "could," "anticipate," "estimate," "forecast," "project," "plan" and similar expressions. These statements do not guarantee future performance and Dollar Thrifty Automotive Group, Inc. assumes no obligation to update them. Risks and uncertainties that could materially affect future results include:

Forward-looking statements should be considered in light of information in this press release and other filings we make with the Securities and Exchange Commission.

SOURCE: Dollar Thrifty Automotive Group, Inc.

About Dollar Thrifty Automotive Group

Dollar Thrifty Automotive Group, Inc. (DTG) is a Fortune 1000 company headquartered in Tulsa, Oklahoma.

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