/ 6 November 2000

AVIS WARNS OF BRAKE ON EARNINGS

AVIS Southern Africa, the South African-based auto rental group, says it does not expect to achieve an earnings per share growth for 2001 due to margin pressure. Continuing low economic growth in southern Africa, high fuel prices and decreased foreign visitors would also limit earnings potential. ”Although there are some short-term pressures on earnings growth, a return to real growth is expected in the new financial year (2002),” it said. Avis reported headline earning per share for the six months to September 30, 2000, up 18% at 31.2 cents from 26.4 cents. – Reuters