Franchise Services of North America Inc.
TSX VENTURE : FSN

Franchise Services of North America Inc.

March 30, 2011 15:53 ET

Franchise Services of North America Inc. Announces Holding of Annual Meeting of Shareholders and New Franchise in Richmond, British Columbia

Expansion of Franchise Activity under the PractiCar Brand Continues

CALGARY, ALBERTA--(Marketwire - March 30, 2011) - FRANCHISE SERVICES OF NORTH AMERICA INC. ("FSNA" or the "Company") (TSX VENTURE:FSN) held its annual meeting of shareholders (the "Meeting") earlier today. At the Meeting, management's nominees, being Mr. Sandy Miller, Mr. Tom McDonnell, Mr. David Forseth, Mr. Tom McNeely, and Mr. Michael Linn, were re-elected to the Company's Board of Directors for the ensuing year. Also at the meeting, RSM Richter LLP was re-appointed as the Company's auditors. The Company also announced the sale of the PractiCar/Rent-A-Wreck franchise for Richmond, British Columbia.

Bob Barton, the Company's President and Chief Operating Officer, stated, "We are extremely pleased to announce the sale of the Richmond, British Columbia franchise. We continue to seek both new franchisees and to offer expansion opportunities to our existing franchisees under both the PractiCar and U-Save brands."

About FSNA

FSNA is a publicly traded company listed on the TSX Venture Exchange. The Company and its subsidiaries own the following brands: U-Save Car & Truck Rental, U-Save Car Sales, Rent-A-Wreck of Canada, PractiCar, Auto Rental Resource Center ("ARRC"), Xpress Rent A Car and Peakstone Financial Services. U-Save, together with its subsidiary ARRC, has over 1,100 locations throughout the United States and is one of North America's largest franchise car rental companies. Having primarily serviced the local market for the past 30 years, the Company is expanding into the airport market with plans for the opening of airport locations in the top 30 leisure markets in the United States and the major airports in Canada. U-Save currently services 35 airport markets in 13 different states and 7 countries. U-Save Car Sales is an expansion of the U-Save brand into the car sales market, and provides goods and services to car sales operators looking to affiliate with a national brand.

Practicar Systems Inc. (a wholly owned subsidiary of FSNA) owns the rights to the Rent-A-Wreck® trademark for all of Canada and the PractiCar trademark. The Rent-A-Wreck® system operates a network of 62 franchises from coast-to-coast in Canada, providing a range of vehicle rental, leasing and sales options to its customers. The Rent-A-Wreck® system has been in continuous operation in Canada since 1976.

Forward-Looking Information

Certain statements made in this news release are forward looking in nature. The words "may," "could," "should," "would," "expect," "intend," "estimate," "anticipate," "believe," or "outlook" and similar expressions often identify forward-looking information. By their nature, forward-looking statements require FSNA to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that predictions, forecasts, conclusions and projections will not prove to be accurate, that FSNA's assumptions may not be correct and that actual results may differ materially from such predictions, forecasts, conclusions or projections. FSNA's forward-looking statements are qualified in their entirety by these cautionary statements. In addition, the forward-looking statements are made only as of the date of this news release, and except as required by applicable law, FSNA undertakes no obligation to publicly update these forward-looking statements to reflect new information, subsequent events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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