EV Rental Seek $7 Million Investment Capital

Funds to be used to acquire additional vehicles. Offer closes June 21, 2001.

Published: 11-Jan-2001

LOS ANGELES (January 8, 2001) -- EV Rental Cars, the only company in the United States to rent electric, natural gas and hybrid-electric cars, is seeking investors for the second round of investment in its history.

This new round of investment is intended to maintain the company¹s fast-paced growth, primarily by securing financing for new vehicles. The company hopes to raise $7 million to acquire new vehicles and open new U.S. markets. The minimum individual investment in the offering is $100,000. The offering opened January 1, 2001, and closes June 21, 2001, or when all units are sold. Already, the company has been in discussions to assign approximately 40 percent of the offer.

EV Rental Cars, through its joint effort with Budget Rent a Car Corporation, now rents more than 235 vehicles in eight airports in the U.S. Over 9,000 customers have been served by Budget EV Rental Cars. In 2000, the company reported revenue growth of more than 850 percent and fleet growth of more than 650 percent. Management projects that 2001 will be a profitable year of continued growth for the company.

Interested parties should contact Terry O¹Day, Vice President of Planning and Operations at EV Rental Cars at 310-642-4530.

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