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

Exhibit 99.1

ANC RENTAL CORPORATION, ET AL. CASE NUMBER 01-11200 SUBSTANTIVELY CONSOLIDATED
COMBINED SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS — SUBSTITUTE MOR-1
FOR THE PERIOD MAY 1, 2004 TO MAY 31, 2004

		Current Period			Activity - Filing
		Activity			Period to Date
		ACTUAL			ACTUAL
Cash - Beginning of Period		$	13,927,352		$	101,226,814
Receipts:
	Credit Card and Local Deposits	$	—		$	3,783,977,111
	Collections of Accounts Receivable		180,496			1,129,274,465
	Other Receipts - See Note 5 Below		6,956			1,133,839,816
Total Receipts		$	187,452		$	6,047,091,392
Disbursements:
	US Trustee Fees Paid		—			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		18,053			451,153,039
18	Professional Fees Paid - Ordinary Course		—			28,465,108
19	Professional Fees Paid - Bankruptcy Professionals		484,980			49,650,808
20	Other Miscellaneous Operating Expenses Paid		21,652			191,011,807
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		$	524,686		$	6,134,728,087
					$	—
Net Cash Flow			(337,233	)	$	(87,636,695	)
Cash at End of Period		$	13,590,119		$	13,590,119

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Note 2	“Projected” amounts no longer valid as no cash budget prepared for post-sale liquidation.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
May 31, 2004

ASSETS
Current Assets Cash—Investments and Other Cash in Bank	$	1,200,896
Cash — ANC Primary Disbursement		6,145
Total Unrestricted Cash					1,207,041
Restricted Cash — Professional Fee Escrow		5,583,078
Restricted Cash — Tax Escrow		6,800,000
Total Restricted Cash					12,383,078
Accounts Receivable Other		119,020
Corporate Accounts		3,640,880
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					107,950
Total Current Assets					13,698,069
Other Assets Deposits — Insurance Collateralization		58,215
Total Other Assets					58,215
Total Assets				$	13,756,284
LIABILITIES AND CAPITAL
Administrative Liabilities: (Note 1) Accounts Payable — A/P System	$	742,059
Administrative Claim — Legal and Professional Fee Holdback 20%		780,441
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					11,697,500
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					459,750,164
Total Liabilities					480,956,200
Total Capital					(467,199,916	)
Total Liabilities & Capital				$	13,756,284

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
May 31, 2004

	For the one			For the five
	month ended			months ended
	5/31/04			5/31/04
Revenues Oth Inc/Exp (Admin Only)	$	—		$	830,851
Total Revenues		—			830,851
Expenses Citations		(606	)		(929	)
Turnback Expense Charges		—			356
Damage Repair—Collections		(5,581	)		(62,965	)
Unemployment Taxes—State		—			258
P/R Taxes—Other		—			3,250
Bank Service Charges		1,938			13,788
Consulting Fees		72,050			882,700
Acctg/Audit Fees		—			342
Legal Fees		41,049			1,543,850
Data Processing Services		9,278			33,940
Printed Forms/Stationery		276			276
Rent Expense		—			3,750
Utilities		—			(754	)
Telephone/Communications		—			(482	)
Personal Property Taxes		—			(665,488	)
Non-Property Taxes		18,053			30,880
Environmental Costs		—			(8,782	)
Misc Other Expense (Operating)		5,220			(15,361	)
Total Expenses		141,677			1,758,629
Net Income	$	(141,677	)	$	(927,778	)