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Alamo Makes Tender Offer For Senior Notes

FORT LAUDERDALE, Fla., Nov. 26 /PRNewswire/ -- Alamo Rent-A-Car, Inc., a subsidiary of Republic Industries, Inc. (Nasdaq: RWIN), today announced that it is conducting a Tender Offer for all outstanding $100 million aggregate principal amount 11 3/4 % Senior Notes Due 2006 issued by Alamo and certain affiliates on February 16, 1996. Concurrently with the Tender Offer, Alamo is conducting a Consent Solicitation in order to effect certain changes to the indenture relating to the Senior Notes.

Aggregate consideration to Noteholders that tender and consent will be $1,202.50 per $1,000 principal amount plus accrued and unpaid interest to the tender date. Such amount consists of $1,192.50 per $1,000 principal amount plus accrued and unpaid interest for tendered notes and, for Noteholders providing their consent by December 10, 1996, $10 per $1,000 principal amount for their consent. The Consent Solicitation will expire December 10, 1996 and the Tender Offer will expire at 12:00 midnight December 23, 1996. The aggregate consideration will be paid only upon closing of the Tender Offer. Noteholders may not consent to the indenture modifications without tendering their Senior Notes.

The Tender Offer and Consent Solicitation are subject to the terms and conditions set forth in documentation which has been sent to holders of the Senior Notes. Merrill Lynch & Co. acting as Dealer Manager for the Tender Offer and Consent Solicitation. Beacon Hill Partners, Inc. acting as Information Agent. (Contact: Edward McCarthy, 800-755-5001).

Alamo is one of the largest general use rental car companies in the world and is the fourth largest general use rental car company in the U.S. Alamo operates in 45 states in the U.S. and has operations in 9 European countries and Canada.

Republic is a diversified company operating in the solid waste, automotive, electronic security services and out-of-home media industries.

SOURCE Alamo Rent-A-Car
 -0- 11/26/96


/CONTACT: Merrill Lynch & Co., 888-ML4-TNDR; or N. Maria Menendez, Alamo Rent-A-Car, Inc., 954-527-4773/

(RWIN)

CO: Alamo Rent-A-Car ST: Florida IN: LEI AUT SU: OFR

RK -- FLTU005 -- 4196 11/26/96 08:40 EST http://www.prnewswire.com
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Publication:PR Newswire
Date:Nov 26, 1996
Words:350
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