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GENERAL RENT-A-CAR EXPERIENCES SURGE IN BOND RECIPIENTS

 GENERAL RENT-A-CAR EXPERIENCES SURGE IN BOND RECIPIENTS
 HOLLYWOOD, Fla., Aug. 11 /PRNewswire/ -- Requests for U.S. Savings Bonds are up 43 percent at both the U.S. Treasury and General Rent-A-Car, which is awarding bonds to customers participating in its innovative frequent renter program.
 USA Today reported Monday that sales of U.S. Savings Bonds in July were up 43 percent over July 1991. In June and July, General Rent-A-Car experienced an average increase of 43 percent in customer redemption requests for savings bonds over previous months of the "Bond with General" promotion.
 Travelers receive a $50 savings bond with just four rentals of a Chrysler compact or larger car at General, and a $1,000 savings bond with 50 qualified rentals.
 "Response to our program has been tremendous," said F. Paul Silicato, president and CEO of General Rent-A-Car. "I think part of our success can be attributed to the growing popularity of savings bonds, in the wake of declining CD and interest rates. Plus, where else can you rent a car at a low rate and make money at the same time."
 There is no membership enrollment process or cost to participate in the "Bond with General" program, which runs through March 31, 1993. Customers just submit completed rental agreements with a simple application form, available at all General locations nationwide. Bonds arrive within six to nine weeks.
 Savings bonds have been a popular way for Americans to save since they were introduced more than 50 years ago. If held five years or more, savings bonds earn a minimum of 6 percent interest. Bonds are exempt from state and local taxes, and interest is deferred from federal income tax until the bonds are redeemed.
 Located nationwide with a strong presence in the Southeast, Southwest, West and Northwest regions, all General offices are corporately owned and operated to ensure quality service and products. In 50 percent of the airports it serves nationally, General offers convenient in-terminal rental counters.
 Reservations or more information may be obtained by calling a travel agent or General at 800-327-7607.
 -0- 8/11/92
 /NOTE TO EDITOR: See USA Today, Monday, Aug. 10, 1992, Money Section, "Big Returns Boost Savings Bond Sales," by Chris Wloszczyna./
 /CONTACT: Janet P. Maizner or Kathryn Higham of Maizner & Franklin Inc., 305-761-8888, for General Rent-A-Car/ CO: General Rent-A-Car ST: Florida IN: LEI SU:


JB-JJ -- FL007 -- 8927 08/11/92 11:37 EDT
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Publication:PR Newswire
Date:Aug 11, 1992
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