Zipcar brings convenient cars with a conscience to London

With £13MM in new investments, the world's largest car club brings Londoners a convenient alternative to car ownership and high petrol prices

LONDON (29 November 2006) — Zipcar, the world's largest car club, launches today in London, bringing Londoners a smart urban transport alternative. Already used by more than 80,000 drivers in some of the world's most congested cities, Zipcar offers a unique combination of clean, green, affordable car transportation around the capital without any of the hassle and expense of owning or maintaining a vehicle.

The Zipcar car club offers drivers a choice of fun and environmentally friendly vehicles from a luxury BMW to a run around MINI, with six models available from launch in London, as well as the simplest to use self service and fully automated booking and pick up services. Car club members can book online or over the phone at any time, any day of the week, and with the unique Zipcard system drivers just swipe to unlock the car and drive away with the minimum of fuss.

Conceived to deliver a cost-effective and sustainable urban transport solution for savvy, eco-conscious city dwellers, Zipcar gives Londoners the best of both worlds. With an estimated twenty private cars taken off the road for every Zipcar introduced, the impact on reducing congestion on London's roads and improving air quality without compromising residents' desire to travel by car is an exciting proposition for most urbanites. What's more, parking, petrol, insurance, maintenance and 60 miles of free driving are all included in the low hourly or daily rates, relieving the headache and expense of London car ownership.

Scott Griffith, Zipcar CEO, believes London is the perfect city for the Zipcar experience. "London is a vibrant, forward-thinking city and a great place to live, but as one of the largest and most densely-populated cities in the world, it faces complex challenges of traffic congestion and limited parking availability. In cities such as New York, Toronto, Chicago, and San Francisco, Zipcar has proven its service can impact car ownership in the city. With our technology, variety of vehicles and superior member experience, we are confident that Zipcar will quickly become a car ownership alternative for thousands of Londoners."

London Zipcars will launch initially in Zones 1 and 2 and the Kensington & Chelsea borough with plans to extend throughout the capital by the end of 2007. Zipcar car club members can book a variety of makes and models for prices from £4.20 per hour including petrol, insurance, maintenance and reserved parking. The first batch of London Zipcars will include Honda Civics, Toyota Aygos, BMWs, and MINI Coopers, available on a 24 x 7 basis.

Scott Griffith, Zipcar CEO adds: "Everyone at Zipcar is committed to transforming transport and communities throughout London. Our team in the capital is already working alongside Transport for London to deliver Zipcar as a sustainable, environmentally sound solution for all urban residents and businesses in the city."

Sir Malcolm Rifkind, MP of Kensington and Chelsea, said, "The problem of congestion in the UK with its related environmental implications is one that requires an innovative solution. Car sharing fits the bill perfectly. It is a sustainable measure that will reduce the number of cars on the road without inconveniencing people or harming their ability to get around in a big city. I am pleased that Kensington and Chelsea will pioneer this scheme. London, in particular, faces acute transport problems. Car clubs can assist in leading the way to resolving some of the difficulties associated with overcrowding on the roads. A forward thinking scheme such as this is to be welcomed."

The London operation is headed up by London resident and General Manager Paul McLoughlin, formerly European General Manager for Vipre, a division of VPSI. London will become the hub for Zipcar's expansion into Europe as part of its overall vision to deliver full international car club availability. Zipcar today also announced £13MM in additional equity financing and is already the world's largest on-demand car club.

Zipping in London

With Zipcar's award-winning technology, accessing and using a Zipcar is as easy as getting money from a cash point. Within minutes or up to a year in advance, car club members can reserve Zipcars online or by phone, 24 hours a day, seven days a week.

To celebrate the arrival of Zipcars in London, residents can now join the Zipcar car club at www.zipcar.com for only £50. As a welcome gesture, and for a limited time, Zipcar will also include £25 of free driving so that urbanites can 'kick the tyres' of car sharing to experience its benefits first hand. Rates in London start at £4.20 per hour and £34 per day (any 24 hour period), with petrol, designated parking and comprehensive insurance included. To join Zipcar residents simply need to have a valid driving license, be over 21 years of age and meet safe driving standards.

About Zipcar
With 80,000 consumer and business drivers, Zipcar is the world's largest and fastest growing car sharing service. The company currently operates 2,500 vehicles in London and 13 states and provinces throughout the United States and Canada, including metropolitan New York, Boston, Chicago, San Francisco, Minneapolis, Toronto and Washington.

Through its success to date, Zipcar has proven that large-scale car clubs can make a positive impact on urban lifestyle and environment. After joining the service, more than 40% of Zipcar members report selling their car or delaying a decision to purchase a new vehicle. Members also report driving less and walking and using public transportation more, saving an average of $435 (c. £250) compared to the average cost of owning and operating a car in the city. Zipcar also replaces older vehicles with newer cars that have more stringent pollution and emission control, helping to clean up air quality in local communities.

The launch of Zipcar into London and the European market follows three consecutive years of 100%+ growth for the company.

For more information, visit www.zipcar.com.