ANC Rental (ANCQ) 8-K Financial statements and exhibits

ANC Rental Corporation, et al. Case Number 01-11200 Substantively Consolidated
COMBINED SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS — SUBSTITUTE MOR-1
For the Period March 1, 2004 to March 31, 2004

		Current Period		Activity - Filing
		Activity		Period to Date
		Actual		Actual
Cash — Beginning of Period		$	13,995,961	$	101,226,814
Receipts:
	Credit Card and Local Deposits		—		3,783,977,111
	Collections of Accounts Receivable		43,767		1,129,080,453
	Other Receipts — See Note 5 Below		785,752		1,133,776,247
Total Receipts		$	829,518	$	6,046,833,810
Disbursements:
	US Trustee Fees Paid		—		639,750
4	Fleet Operating Expenses		—		312,469,217
5a	Personnel - Net Cash Payroll		—		470,673,178
5b	Personnel - Payroll Taxes Paid		—		177,255,692
5c	Personnel - Benefits Payments		—		140,980,642
5d	Personnel - Payments of Garnishments Withheld		—		3,982,091
6	Travel Expenses Paid		—		9,755,142
7	Fuel Payments For Rental Fleet		—		88,990,045
8	Airport - Agency - Concession Fees Paid		—		375,635,115
9	Insurance Payments All		—		215,564,562
11	Facility and Other Fixed Operating Expenses Paid		—		375,115,781
13	Travel Agency Tour Operator Commission Payments		—		158,023,825
14	Advertising Payments		—		106,395,931
15	IT Consulting Payments		—		111,295,973
16	IT Other Cash Payments		—		39,361,917
17	Sales Taxes and Other Taxes Paid		53,395		451,088,647
18	Professional Fees Paid - Ordinary Course		—		28,465,108
19	Professional Fees Paid - Bankruptcy Professionals		442,593		48,824,795
20	Other Miscellaneous Operating Expenses Paid		19,648		190,941,406
23	Capital Expenditures		—		31,422,159
24	Interest and Financing Fees Paid		—		58,831,871
25	Vehicle Holding Costs Paid		—		1,796,983,772
25.1	Fleet Purchase Payments and Financing Enhancements		—		626,101,604
26	Working Capital Fundings to Subsidiaries		—		4,000,000
	Cash Purchased by Vanguard at Closing		—		94,153,390
	Loan Repayment to Congress and LOC Collateralization		—		55,117,839
	Payoff Lehman Supplemental Facility		—		40,000,000
	Partial Payment to Lehman - Bridge Loan Facility		—		121,681,330
Total Disbursements		$	515,636	$	6,133,750,781
Net Cash Flow			313,883		(86,916,971	)
Cash at End of Period		$	14,309,843	$	14,309,843

Note 1	All Operations effectively in Vanguard’s control as of 10/01/03 — Sale to Vanguard closed 10/14/03.
Note 2	“Projected” amounts no longer valid as no cash budget prepared for post-sale liquidation.
Note 3	Effective July 2002, category 12 “Other” has been combined with Category 20 “Other”
Note 4	Effective August 2002, all Insurance payments combined in item 9 “Insurance All”
Note 5	Other receipts for this reporting period consist primarily of tax refunds.

ANC Rental Corporation et al.
Case Number 01-11200 Substantively Consolidated Balance Sheet
March 31, 2004

ASSETS
Current Assets
Cash—Investments and Other Cash	$	1,647,931
Cash — ANC Primary Disbursement		7,419
Total Unrestricted Cash		1,655,350
Restricted Cash — Professional Fee Escrow		5,854,493
Restricted Cash — Tax Escrow		6,800,000
Total Restricted Cash		12,654,493
Accounts Receivable Other		26,824
Corporate Accounts		3,658,573
Collision Damage Recovery A/R		2,880,780
Collision Damage Recovery Reserve		(2,880,780	)
Provision — Trade A/R		(3,658,573	)
Total Accounts Receivable — Net of Allowances		26,824
Total Current Assets		14,336,667
Other Assets
Deposits — Insurance Collateralization		58,215
Total Other Assets		58,215
Total Assets	$	14,394,882
LIABILITIES AND CAPITAL
Administrative Liabilities: (Note 1)
Accounts Payable — A/P System	$	943,386
Administrative Claim — Legal and Professional Fee Holdback 20%		746,844
Accrued Interest On 3rd Party Debt		6,500,000
Reserve for Other Professional Fees and Administrative Claims		3,675,000
Estimated Administrative and Professional Fee Reserves		11,865,230
Secured Liabilities:
Accrued Ad-Valorem Tax Reserve		6,800,000
Priority Liabilities:
Accrued Prepetition Personal Property Taxes		2,264,409
Other Priority Creditor Accruals		444,127
General Unsecured Liabilities:
Reserves for General Unsecured Claims		459,958,947
Total Liabilities		481,332,713
Total Capital		(466,937,831	)
Total Liabilities & Capital	$	14,394,882

Note 1: Total administrative claims submitted by creditors exceed $18.0 million. Debtors are disputing balances not accrued above. Accruals will be made and reported as required under APB5 as claims are resolved.

ANC Rental Corporation, et al.
Case Number 01-11200 Substantively Consolidated
Statement of Operations
For the Periods as indicated

	For the one month ended			For the three months ended
	03/31/04			03/31/04
Revenues
Oth Inc/Exp (Admin Only)	$	—		$	323,333
Total Revenues		—			323,333
Cost of Sales		—			—
Total Cost of Sales		—			—
Gross Profit		—			323,333
Expenses:
Citations		—			(116	)
Turnback Expense Charges		—			356
Damage Repair—Collections		(39,207	)		(39,207	)
Unemployment Taxes—State		227			256
Payroll Taxes—Other		3,250			3,250
Bank Service Charges		4,414			10,067
Consulting Fees		266,763			663,799
Accounting — Auditing Fees		342			342
Legal Fees		234,536			983,611
Data Processing Services		6,702			18,062
Telephone/Communications		(31	)		(482	)
Personal Property Taxes		(649,684	)		(649,684	)
Non-Property Taxes		3,248			19,145
Environmental Costs		—			(8,782	)
Corporate Provision For Bad Debt		32,116			—
Misc Other Expense (Operating)		56,716			(11,592	)
Total Expenses		(80,606	)		989,026
Net Income	$	80,606		$	(665,693	)