Exhibit 99.1

MEDIA CONTACT:                FOR IMMEDIATE RELEASE
Kimberly Mulcahy
(630) 955-7672

INVESTOR CONTACT:
Sarah Lewensohn
(630) 955-7602

               BUDGET GROUP ANNOUNCES RECAPITALIZATION INITIATIVE

               DISCUSSIONS UNDERWAY WITH PRIVATE EQUITY INVESTORS

Lisle, IL, April 2, 2002 - Budget Group, Inc. (OTCBB: BDGPA) today announced
that it has launched a recapitalization initiative to restore its financial
health. The Company is currently in discussions with certain interested
investors regarding an infusion of new capital through a private equity
investment.

The Company has retained Lazard Freres & Co. LLC as its financial advisor
regarding recapitalization alternatives and has also begun discussions with
holders of the Company's senior notes concerning a balance sheet restructuring.
As part of this initiative, the Company did not make the $18.5 million senior
notes interest payment due on April 1, 2002. The Company has made all principal
and interest payments relating to its vehicle fleet financing.

In addition, Budget announced that it has filed an extension request with the
SEC relating to its annual report on Form 10-K for the year ended December 31,
2001. Budget expects to file the annual report on or about April 15, 2002.

The Company emphasized that the recapitalization will not affect Budget's
ability to service its car and truck rental customers. Budget said it would
continue to operate on a business as usual basis with regard to its employees,
customers and vendors.

Sandy Miller Chairman and Chief Executive Officer of Budget Group, Inc.
commented, "Despite a challenging economy, we are seeing signs of improvement as
evidenced by a rise in car rental industry pricing and increases in the
Company's vehicle utilization and revenue per vehicle. Recapitalization of the
balance sheet, combined with our continuing cost cutting and asset control
efforts, will put Budget on track for future financial success."

Budget Group, Inc. owns Budget Rent a Car Corporation and Ryder TRS, Inc. Budget
is the world's third largest car and truck rental system and Ryder TRS is the
nation's second largest consumer truck rental company. For more information,
visit the Company's Web site at www.budget.com.

Statements made in this press release that are not historical in nature may
include 'forward-looking statements' within the meaning of the federal
securities laws. It is important to note that these statements involve a number
of risks, uncertainties and other factors that could cause Budget Group, Inc.'s
actual results to differ materially from those projected in such forward-looking
statements. The expectations relating to the Company's debt restructuring and
recapitalization are estimates or


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expectations based on current assumptions which management believes to be
reasonable at this time. In addition, other risks to its business include
additional risk of losses from international operations; travel patterns
subsequent to September 11, 2001, seasonality; competition; general economic
conditions; and the availability and terms of financing. These factors and
conditions could be substantially different than the Company's actual future
activities and results of operations may differ materially from the
forward-looking statements made in this press release. Additional information
concerning such matters is contained in the Company's Annual Report on Form 10-K
for the year ended December 31, 2000, and in other documents subsequently filed
by the Company with the SEC, all of which are available from the SEC.


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