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Advantage CEO Resigns and Replaced by Acting Executive

December 26, 2006

SAN ANTONIO, TEXAS - Advantage Rent A Car has a new president and CEO of the automotive-rental company.George J. Gremse, Advantage Rent A Car president and CEO, left the company to return to Florida and resume his consulting and investment practice. He also wanted to be closer to his family. Gremse became CEO earlier this year after ARC Venture Holding Inc. acquired the local company from the Walker family in San Antonio. Advantage’s board of directors has appointed William N. Plamondon III as acting president and CEO. Plamondon most recently worked as chief restructuring officer of ANC Rental Corp., the parent company of Alamo Rent-A-Car and National Car Rental, until it was sold to a private investment group. He started his career in the car-rental industry with Budget Rent A Car and ultimately became the company's president and CEO. Since Advantage Rent A Car was bought by ARC Venture Holding, the company has been working to steadily expand both the number of airport and local market locations, including Las Vegas, Minneapolis, and Honolulu. It will soon open new locations in Maui; Colorado Springs; Aspen, Colo.; and Orlando. In 2007, Advantage also will start franchising its brand. Advantage operates nearly 300 daily rental locations and reservation networks in more than 34 countries worldwide. Its corporate headquarters are in San Antonio.
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