Notes to the Consolidated Financial Statements continued

for the year ended 31 December 2007

45 Principal subsidiaries

A list of the principal subsidiaries including the name, country of incorporation, and proportion of ownership is detailed below:

Name of company   Country of incorporation   2007
% of indirect ownership
% of indirect ownership
Avis Location de Voitures SAS   France   100   100
Avis Autovermietung GmbH & Co KG   Germany   100   100
Avis Autonoleggio SpA   Italy   100   100
Avis Alquile un Coche SA   Spain   100   100
Avis Rent A Car Limited   UK   100   100
Avis Europe International Reinsurance Limited   Isle of Man   100   100
Avis Europe Holdings Limited   UK   100   100
Avis Finance Company plc   UK   100   100
Avis Management Services Limited UK   UK   100   100

In addition, the assets and liabilities of Europe Leisure Holdings NV and its subsidiary are consolidated in these Consolidated Financial Statements in accordance with SIC 12, Consolidation – Special Purpose Entities.

A complete list of all Group subsidiaries is available from: The Investor Relations Department, Avis Europe plc, Avis House, Park Road, Bracknell, Berkshire RG12 2EW.