Franchise Services of North America Inc. Announces Filing of its Financial Results for the Year Ended September 30, 2007



    TSX-V Trading Symbol: FSN

    CALGARY, Feb. 25 /CNW/ - FRANCHISE SERVICES OF NORTH AMERICA INC. ("FSNA"
or the "Company") announced today that it has filed audited annual
consolidated financial statements for the fiscal year ended September 30, 2007
("the 2007 Annual Financial Statements"). Revenue for the combined period was
US $18,180,802, and Net Income was US $489,738. These 2007 Annual Financial
Statements include thirteen months of U-Save's results and ten months of
Practicar Systems, Inc. due to the November, 2006 Business Combination
Transaction ("BCT") between U-Save Auto Rental of America, Inc. and the
predecessor company, Rent-A-Wreck Capital Inc. Reference is made to the
Company's public filings which are available on line at www.sedar.com, which
contain a detailed description of the BCT and related financial information.
    On January 28, 2008, FSNA announced that it had delayed the filing of its
2007 Annual Financial Statements, which were, pursuant to applicable Canadian
securities laws, required to be filed no later than January 28, 2008. As a
result, cease trade orders were issued by the Alberta Securities Commission,
the British Columbia Securities Commission and the Ontario Securities
Commission. The Toronto Venture Exchange ("TSX-V") also suspended trading in
the Company's common shares. Application is being made to each of the
above-noted securities commissions and to the TSX-V to have the cease trade
orders rescinded.
    "The 2007 Annual Financial Statements are the first set of annual
financial statements to be prepared following the completion by the Company of
a cross-border reverse take-over transaction in late 2006. The delay in filing
the statements related in part to the challenge of combining FSNA's United
States and Canadian operations, as well as conforming financial periods and
accounting standards" said Robert M. Barton, Chief Operating Officer of the
Company.

    About FSNA
    ----------
    FSNA is a publicly traded company on the TSX Venture Exchange. The
Company and its subsidiaries own the following brands: U-Save Car & Truck
Rental, U-Save Car Sales, Rent-A-Wreck of Canada, Auto Rental Resource Center
("ARRC"), Xpress Rent A Car and Peakstone Insurance.
    U-Save, with its subsidiary ARRC, has over 1,100 locations throughout the
United States and is one of North America's largest franchise car rental
companies. Having primarily serviced the local market for the past 25 years,
the Company is expanding into the airport market with plans for the opening of
airport locations in the top 30 markets in the United States and the major
airports in Canada. U-Save currently services 26 airport markets in 14
different states. U-Save Car Sales is an expansion of the U-Save brand into
the car sales market, and provides goods and services to car sales operators
looking to affiliate with a national brand.
    Practicar Systems Inc. (a wholly owned subsidiary of FSNA) owns the
rights to the Rent-A-Wreck(R) trademark for all of Canada. The Rent-A-Wreck(R)
system operates a network of 50 franchises from coast-to-coast in Canada,
providing a range of vehicle rental, leasing and sales options to its
customers. The Rent-A-Wreck(R) system has been in continuous operation in
Canada since 1976.


    Forward-Looking Information
    ---------------------------
    Certain information included in this press release is of a
forward-looking nature. Forward-looking information is subject to known and
unknown risks, as well as uncertainties and other factors. Accordingly, actual
results may differ materially from those expressed or implied in
forward-looking information. Some of the risks, uncertainties and other
factors affecting FSNA are discussed in our public filings with the securities
regulatory authorities in Canada. Copies of FSNA's Canadian filings, including
our most recent management information circular, annual information form,
interim financial statements, material change reports and news releases, are
available online at www.sedar.com. Information in this document is presented
as of February 25, 2008 and is subject to change after this date. However,
FSNA disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.

    The TSX Venture Exchange has neither approved nor disapproved of the
    contents of this press release.

    %SEDAR: 00010981E




For further information:

For further information: on FSNA or any of its operating subsidiaries
contact: Alison Tullis, CHF Investor Relations, (416) 868-1079 x 233,
Alison@chfir.com; Robert M. Barton, Chief Operating Officer, FSNA, (601)
713-4333 x 116, www.fsna-inc.com


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