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AGENCY RENT-A-CAR, INC. SHIFTS INTO HIGH GEAR WITH LYN ST. JAMES

 AGENCY RENT-A-CAR, INC. SHIFTS INTO HIGH GEAR
 WITH LYN ST. JAMES
 CLEVELAND, May 5 /PRNewswire/ -- Agency Rent-A-Car, Inc. (NASDAQ: AGNC) the nation's leading automobile insurance replacement company, today announced that it will be the primary sponsor of international race car driver Lyn St. James in her attempt to become only the second woman to compete in the Indianapolis 500.
 St. James, who holds 31 national and international speed records for women, passed her rookies orientation for Indianapolis this past April. In her fourth day of practice, Lyn is turning speeds in excess of 218 m.p.h. at the fabled Brickyard. Race car owner Dick Simon today stated that he "is 99.9 percent certain that Lyn will qualify for the 76th running of the Indy scheduled for May 24."
 Samuel J. Frankino, chairman of the board and chief executive officer, stated that "the opportunity to assist Lyn St. James in reaching her lifetime objective to race in the Indianapolis 500 presents an opportunity to associate with an individual who captures the essence of Agency's success."
 The challenge of racing in many ways mirrors the competitive nature of Agency's business. Like racing, Agency's success is a result of a team effort of some 2,800 employees throughout the nation. St. James' efforts and dedication will inspire all Agency employees, especially the 600 women the company employs.
 In reaching the agreement with St. James and Dick Simon Racing, Inc., Frankino stated that "the Simon organization knows that success depends upon service to its customers, which is the cornerstone of our business. Dick Simon understands this philosophy and has instilled this competitive edge throughout his entire organization."
 In response to the announcement, St. James stated, "I am delighted to have Agency Rent-A-Car as primary sponsor of our car. I can breathe a lot easier now and focus all of my energy on winning the race."
 Agency's sponsorship of St. James represents the company's return to Indy car racing. In 1990, Agency was an associate sponsor of Al Unser, Sr.
 In addition to her racing success, St. James has dedicated herself to another significant cause -- the female athlete. As president of the Women's Sports Foundation, St. James has devoted much time and effort to enhance the opportunities for other women athletes throughout the country.
 St. James also announced that she will be making a $10,000 donation to the Women's Sports Foundation in her name. The gift, which was funded by the Samuel J. and Connie M. Frankino Charitable Foundation, was made in recognition of Lyn's outstanding efforts on behalf of the Women's Sport Foundation.
 St. James, who was born in the Cleveland suburb of Willoughby, Ohio, provides yet another tie to Agency, which started the automobile insurance replacement industry in Cleveland in 1969. Today, with more than 40,000 cars, the company operates 734 locations throughout the continental United States and Canada.
 Agency, which rents automobiles on a short-term basis to individuals who have lost the use of their personal vehicle through accident, theft, or mechanical failure, occupies a pre-eminent position in the industry as the largest publicly owned insurance replacement company in the United States.
 St. James' recent success at the Indianapolis Speedway also coincides with Agency's 28 percent gain in earnings per share for its fiscal year ended Jan. 31, 1992. Like the challenges of Indianapolis, steering the company to heightened profitability through 1991's troubled economic climate required skill and prudent management.
 "This year's earnings growth reflects the success of a number of management plans implemented during the year and provides the impetus for further growth," said Frankino.
 Planned expansion calls for the opening of 65 new offices that will increase field locations to more than 800 by the end of 1992. Agency's goal for growth will be achieved through management's ability to recognize, adopt and successfully respond to a changing and challenging market place. Agency confidently stands positioned for even more growth, profit and leadership in the years to come.
 -0- 5/5/92
 /CONTACT: Peter T. Zackaroff, executive vice president of Agency Rent-A-Car, 216-349-1000, or Jennifer Jones of Fleishman Hillard, 317-299-9299/
 (AGNC) CO: Agency Rent-A-Car ST: Ohio IN: SU:


LC -- CL012 -- 6693 05/05/92 15:24 EDT
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Publication:PR Newswire
Date:May 5, 1992
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