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NATIONAL CAR RENTAL NAMES MURPHY CEO; RETAINS TURNAROUND FIRM JAY ALIX & ASSOCIATES

 MINNEAPOLIS, Jan. 27 /PRNewswire/ -- National Car Rental System, Inc. today has named Chairman Thomas N. Murphy to the post of chief executive officer. Robert J. McKenna continues as president and chief operating officer.
 In a companion move, the two executives announced they have retained Jay Alix & Associates, a firm specializing in corporate restructuring, to assist them in the management of National. Jay Alix, founder of Jay Alix & Associates, has been named chief turnaround officer and will become a member of the National board of directors.
 "Jay Alix & Associates will work with the management of National Car Rental to restructure the company. Our goal is to maximize the value of National Car Rental to our shareholders, including General Motors, which owns a majority interest in the company," Murphy said.
 Jay Alix & Associates will begin an immediate analysis of the operations of National Car Rental to improve the company's financial and competitive position. "Over the next several months, we will be working closely with management to position National towards profitability and to consider strategic alternatives," said Alix.
 Founded in 1981, Jay Alix & Associates is one of the largest and most experienced corporate turnaround and restructuring specialists, with more than 35 professionals in offices in New York and Detroit. Among the firm's turnaround and restructuring assignments have been Unisys, Cardinal Industries, Core Industries, G. Heileman Brewing Co. and Interco.
 Murphy had been elected chairman of the board in February of 1992, and placed on special assignment by General Motors to work with National. With the addition of the chief executive officer title, Murphy becomes a full-time employee of National Car Rental System, Inc.
 National is part of the Interrent group of companies, and services over 4,900 locations in 129 countries worldwide with its partners Tilden Interrent in Canada, Nippon Interrent in Japan and the Pacific Rim, and Europcar Interrent in Europe, Africa, and the Middle East.
 -0- 1/27/93
 /CONTACT: Michael J. Olsen, VP of corporate communications, 612-830-2537, for National Car Rental/


CO: National Car Rental System, Inc.; Jay Alix & Associates ST: Minneapolis IN: LEI SU: PER

MP -- MN001 -- 9518 01/27/93 10:15 EST
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Publication:PR Newswire
Date:Jan 27, 1993
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