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 April 1, 2004 to April 30, 2004

				Current Period			Activity - Filing
				Activity			Period to Date
				ACTUAL			ACTUAL
Cash — Beginning of Period				$	14,309,843		$	101,226,814
Receipts:
			Credit Card and Local Deposits		—			3,783,977,111
			Collections of Accounts Receivable		13,516			1,129,093,968
			Other Receipts — See Note 5 Below		56,613			1,133,832,860
Total Receipts				$	70,129		$	6,046,903,939
Disbursements:
			US Trustee Fees Paid		16,500			656,250
			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			46,338			451,134,985
		18                        Professional Fees Paid — Ordinary Course			—			28,465,108
		19                        Professional Fees Paid — Bankruptcy Professionals			341,033			49,165,828
		20                        Other Miscellaneous Operating Expenses Paid			48,749			190,990,155
		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				$	452,620		$	6,134,203,401
Net Cash Flow					(382,491	)		(87,299,462	)
Cash at End of Period				$	13,927,352		$	13,927,352

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
April 30, 2004

				ASSETS
Current Assets
Cash—Investments and Other Cash					$	1,539,036
		Cash — ANC Primary Disbursement				5,238
Total Unrestricted Cash									1,544,274
Restricted Cash — Professional Fee Escrow						5,583,078
Restricted Cash — Tax Escrow						6,800,000
Total Restricted Cash									12,383,078
Accounts Receivable Other						276,633
Corporate Accounts						3,651,950
Collission Damage Recovery A/R						2,873,499
Collision Damage Recovery Reserve						(2,873,499	)
Provision — Trade A/R						(3,651,950	)
Total Accounts Receivable — Net of Allowances									276,633
		Total Current Assets							14,203,985
Other Assets
Deposits — Insurance Collateralization						58,215
		Total Other Assets							58,215
			Total Assets					$	14,262,200
				LIABILITIES AND CAPITAL
Administrative Liabilities: (Note 1)
	Accounts Payable — A/P System				$	927,417
	Administrative Claim — Legal and Professional Fee Holdback 20%					775,569
	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							11,877,986
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								459,933,917
		Total Liabilities							481,320,439
		Total Capital							(467,058,239	)
Total Liabilities & Capital								$	14,262,200

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			For the four months
				ended 04/30/04			ended 04/30/04
Revenues
	Oth Inc/Exp (Admin Only)			$	507,518		$	830,851
	Total Revenues				507,518			830,851
Cost of Sales					—			—
	Total Cost of Sales				—			—
	Gross Profit				507,518			830,851
Expenses:
	Citations				(207	)		(323	)
	Turnback Expense Charges				—			356
	Damage Repair—Collections				(18,177	)		(57,384	)
	Unemployment Taxes—State				2			258
	Payroll Taxes—Other				—			3,250
	Bank Service Charges				1,784			11,850
	Consulting Fees				146,851			810,650
	Accounting — Auditing Fees				—			342
	Legal Fees				519,191			1,502,802
	Data Processing Services				6,600			24,662
	Rent Expense				3,750			3,750
	Utilities				(754	)		(754	)
	Telephone/Communications				—			(482	)
	Personal Property Taxes				(15,805	)		(665,488	)
	Non-Property Taxes				(6,319	)		12,826
	Environmental Costs				—			(8,782	)
	Corporate Provision For Bad Debt				—			—
	Misc Other Expense (Operating)				(8,990	)		(20,581	)
		Total Expenses			627,926			1,616,952
			Net Income	$	(120,408	)	$	(786,101	)

Note: Other Income — Asset Recoveries consists primarily of recoveries from adversarial preference actions initiated by the Debtors.