TSX-V Trading Symbol: FSN
CALGARY, Feb. 27 /CNW/ - FRANCHISE SERVICES OF NORTH AMERICA INC. ("FSNA"
or the "Company") announced today the sale of the U-Save franchise for San
Diego International Airport, two new Rent A Wreck Franchises, one in Sudbury,
Ontario, and a two-location franchise for Terrace and Kitmat, British
Columbia. The Company also announced that Robert M. Barton, it's Executive
Vice President and Chief Operating Officer has been elected to be the new
President of the American Car Rental Association ("ACRA").
"We continue our efforts to expand the U-Save presence in the top leisure
airport markets. San Diego is a big step in that direction. Our continued
development of the Rent A Wreck system in Canada is also doing quite well,
with the addition of these three new locations. Bob's appointment to be the
new President of ACRA is a reflection of his hard work and dedication. It is
especially gratifying to have this recognition acknowledged by your peers,"
said Sandy Miller, Co-Chairman of the company, and also a past President of
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 27 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.
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 27, 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 the
contents of this press release.
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