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Enterprise Rent-A-Car (US) Expanding into Vietnam

24 May 2017 - Enterprise Holdings Inc. – the world's largest car rental company – has announced plans to enter the Vietnam market with its flagship brand, Enterprise Rent-A-Car, as well as its National Car Rental and Alamo Rent A Car brands. Enterprise Holdings appointed an affiliate of MP Logistics as its first franchisee in Asia at the 2017 Asian American Chamber of Commerce Connections Dinner today, subject to Enterprise's registration in Vietnam as a franchisor.

This appointment not only marks a historic milestone in Enterprise Holdings' ongoing global expansion, but also reflects the company's broader strategy to build an extensive network of transportation services that deliver value, choice and outstanding customer service to business and leisure travelers around the world. "Our robust growth is a tribute to the strong international reputation of our brands," said Peter A. Smith, vice president of global franchising at Enterprise Holdings, who highlighted the company's rapid expansion and integrated global network as a keynote speaker at the 2016 International Car Rental Show.

Enterprise Holdings also hosted a global franchise meeting last year in St. Louis – its hometown and world headquarters – which served as an ideal place for business partners from all over the world to find some 'middle ground' and discuss a variety of issues, from operational procedures and employee recruitment strategies to urban mobility concepts and ethics and compliance policies. "We look forward to working with MP Logistics to further enhance our brands' reputation," Smith stated. "We believe this partnership is just the latest example of ensuring that our loyal leisure and corporate customers are able to enjoy the high-quality service they've come to expect from our Enterprise, National and Alamo brands, no matter where in the world their travels take them."

Next year, MP Logistics will begin providing long-term rentals under the Enterprise Rent-A-Car brand primarily to the employees of multinational companies with operations in Vietnam. Over time, the offering will expand to include short-term car rental services for business and leisure travelers. MP Logistics estimates that the average international customer will rent a vehicle for anywhere from one to five years – similar to vehicle lease programs in the United States, but with the added benefit of a local driver.

"Enterprise and MP Logistics are both committed to the highest standards of customer service," said Minh Phuong Dang, Chief Executive Officer and Founder of MP Logistics. "As family-owned companies, we both share common values that include a strong entrepreneurial spirit, a culture of excellence and a deep commitment to our people."

Another Vietnamese-American Business Success Story

Throughout the past two decades, Vietnam has undergone a rapid economic expansion. In the article, "Having attained middle-income status, Vietnam aims higher," The Economist recently reported that Vietnam's growth has averaged nearly six percent a year per capita since 1990.

With that kind of economic strength in mind, Cuong Dang – CEO of St. Louis-based Enliven as well as Vice President of the local Asian American Chamber of Commerce (AACC) – works to foster business opportunities across Asia. He has led trade missions between St. Louis and Vietnam for the past two years. In this role, he recognized the market potential for a well-respected and trusted consumer brand such as Enterprise Rent-A-Car to thrive in the fragmented Vietnamese car rental marketplace. As a result, he connected the two companies for a potential partnership.

MP Logistics is a family-owned company that specializes in air and ocean freight, warehousing, distribution, project cargo and inland transportation. With a strong reputation for delivering exceptional customer service throughout the region, the company's current fleet provides long-term rentals for international business executives who work and live in Vietnam.

"MP Logistics looked at many potential car rental partners, and the company is confident that the combination of Vietnam's emerging economy and Enterprise's unique value proposition and unmatched customer service reputation will add up to yet another Vietnamese-American business success story," Dang said.

During the last five years, Enterprise Holdings has rapidly expanded the presence of its three brands –Enterprise Rent-A-Car, National Car Rental and Alamo Rent A Car – and now serves more than 95 percent of the worldwide car rental market. In the beginning of 2012, the company operated in just three European countries – the UK, Ireland and Germany. Today, the Enterprise Holdings global network operates in more than 90 countries and territories, including North America, Central America, South America, the Caribbean and Europe, as well as parts of Asia-Pacific and the Middle East. The company also ranks near the top of the global travel industry, ahead of many airlines and most cruise lines, hotels, tour operators and online travel agencies.

About Enterprise Holdings

Enterprise Holdings – through its integrated global network of independent regional subsidiaries and franchises – operates the Enterprise Rent-A-Car, National Car Rental and Alamo Rent A Car brands at more than 9,600 fully staffed neighborhood and airport locations. The company and its affiliate, Enterprise Fleet Management, together offer a total transportation solution, including extensive car rental and car-sharing services, truck rental, corporate fleet management and retail car sales. Combined, these businesses accounted for more than $20.9 billion in revenue and owned nearly 1.9 million vehicles throughout the world in fiscal year 2016. Enterprise Holdings' regional subsidiaries and Enterprise Fleet Management currently employ more than 97,000 worldwide. Enterprise Holdings currently is ranked as one of America's Largest Private Companies. In addition, among all North American car rental companies, it has the lowest leverage ratio and is the only one with an investment-grade rating. Furthermore, if it were publicly traded, Enterprise Holdings would rank on Fortune's list of the 500 largest American public companies.

Enterprise Holdings Inc.



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