Abrams Consulting and William Adler, Former President of PHH Vehicle Management Services, Join Forces to Create New Business Unit.

PURCHASE, N.Y.--(BUSINESS WIRE)--June 24, 1999--

Neil Abrams, President of ABRAMS CONSULTING GROUP, INC.(ACG), a specialized consultancy to auto rental and allied travel industries, and William Adler, former President of Vehicle Management Services Division of Hunt Valley, Maryland based PHH, have formed a joint venture to market management consulting and market research services to the commercial fleet management and leasing industry.

The new venture, AdlerAbramsAdvisors, is a business unit of ABRAMS CONSULTING GROUP, for 17 years a leading travel service and automotive consultancy. AdlerAbrams offers clients consulting services concentrating on assessing and developing business strategies, organization planning, new products and services, and marketing initiatives within commercial fleet and allied industries. Market research and information products include customized research studies, information services tracking key statistics and performance measurements for the fleet industry, competitive analysis, and consumer and business-to-business survey capabilities. AdlerAbrams combines Adler's organizational and commercial fleet expertise with ACG's auto rental specialization to provide companies with decision support models to enhance productivity, organizational efficiency, and cost management of the assets, human and financial, employed in transportation and travel.

In explaining the reasons for his collaboration with Adler, Abrams states, "ACG, together with its business units ABRAMS CONSULTING INTERNATIONAL and ABRAMS TRAVEL DATA SERVICES, has become the recognized leader in providing professional and management services to the auto rental and collateral businesses. Bill Adler is a recognized industry leader and authority on fleet management and leasing. Bill is to the commercial fleet business what we are to auto rental. The combining of resources will provide a platform of consulting and market research services unparalleled in the vehicle rental, management, and leasing industries".

Bill Adler, based in Delray Beach, FL, held several senior management posts during his 12 year career with PHH, culminating in the chief executive position of the Global Fleet Management business unit. During his tenure, the total worldwide leasing and management fleet grew to comprise over 700,000 vehicles. Adler also served as President of the American Automotive Leasing Association.

About his collaboration with the ABRAMS CONSULTING GROUP, Adler explains, "For some time, I have recognized the need for specialized consulting and research services to identify the critical success factors in an environment characterized by complex and changing needs. As the competitive landscape of the commercial fleet management and leasing community changes, so must the business models that drive their strategic initiatives. To remain successful, organizations must be able to anticipate and respond to tomorrow's needs today. The combined expertise of ACG and myself in collateral industries provides a formidable alliance which will optimize the strengths of our collective network and resources to deliver unique solutions to our clients".

ABRAMS CONSULTING GROUP, INC., founded in 1982 and with offices in Purchase, NY, Long Beach, CA, England, and Japan, is the leading specialized consulting firm dedicated to providing strategic business development and management services to auto rental operators, systems, and suppliers throughout the U.S. and Canada. A subsidiary, ABRAMS CONSULTING INTERNATIONAL, advises and supports auto rental, travel services, and transportation companies worldwide. Another subsidiary, ABRAMS TRAVEL DATA SERVICES, provides analytical market research and data on the global car rental industry and allied travel services. Complete information on ACG's products, organization, and services can be found on the company's website at www.abramsconsulting.com.