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    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 1.0in 1.5in 2.0in" align="center">As
      filed with the Securities and Exchange Commission on June 28,
      2007</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right; tab-stops: 1.0in 1.5in 2.0in" align="right">No.
      333-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
    <div>&#160;</div>
    <div>
      <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="4">
      <hr style="MARGIN-TOP: -10px; COLOR: #000000" noshade size="1">
    </div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 1.0in 1.5in 2.0in" align="center">UNITED
      STATES SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">Washington,
      D.C.&#160; 20549</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 1.0in 1.5in 2.0in" align="center">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 1.0in 1.5in 2.0in" align="center">FORM
      S-8</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 1.0in 1.5in 2.0in" align="center">REGISTRATION
      STATEMENT UNDER THE SECURITIES ACT OF 1933</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; tab-stops: 1.0in 1.5in 2.0in">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 1.0in 1.5in 2.0in" align="center"><strong><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman;">AVIS
      BUDGET GROUP, INC.</font></strong></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 1.0in 1.5in 2.0in" align="center">(Exact
      name of registrant as specified in its charter)</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; tab-stops: 1.0in 1.5in 2.0in">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 243pt; TEXT-ALIGN: left; tab-stops: center 2.0in 4.5in" align="left"><strong><u>Delaware</u></strong>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      <strong><u>06</u></strong><strong><u><font size="+0">&#8209;</font></u></strong><strong><u>0918165</u></strong></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 153pt; TEXT-ALIGN: left; tab-stops: center 2.0in 4.5in" align="left">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(State
      or other jurisdiction
      of&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;&#160; (I.R.S. Employer</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 153pt; TEXT-ALIGN: left; tab-stops: center 2.0in 4.5in" align="left">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;incorporation
      or
      organization)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160; Identification No.)</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 144pt; TEXT-ALIGN: left; tab-stops: center 2.0in 4.5in" align="left">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      <strong><u>6 Sylvan Way, Parsippany,
      NJ</u></strong>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<strong><u>07054</u></strong></div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 117pt; MARGIN-RIGHT: 0pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      (Address of Principal Executive
      Offices)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160; (Zip Code)</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman;"><strong>AVIS
      BUDGET GROUP, INC. 2007 EQUITY AND INCENTIVE PLAN</strong></font></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">(Full
      title of the plan)</font></div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><strong>David
      B. Wyshner</strong></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><strong>Executive
      Vice President, Chief Financial Officer and
      Treasurer</strong></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><strong>Avis
      Budget Group, Inc.</strong></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><strong>6
      Sylvan Way</strong></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><strong>Parsippany,
      NJ 07054</strong></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><strong>(973)
      496-4700</strong></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">(Name, address
      and telephone number, including area code,</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">of agent
      for
      service)</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">with a copy
      to:</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><strong>Karen
      C. Sclafani</strong></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><strong>Avis
      Budget Group, Inc.</strong></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><strong>6
      Sylvan Way</strong></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><strong>Parsippany,
      NJ 07054</strong></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><strong>(973)
      496-4700</strong></div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><strong>CALCULATION
      OF REGISTRATION FEE</strong></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">
      <table border="0" cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE: collapse; mso-table-layout-alt: fixed; mso-padding-alt: 0in 5.4pt 0in 5.4pt">

          <tr style="MSO-YFTI-FIRSTROW: yes; MSO-YFTI-IROW: 0;">
            <td valign="bottom" width="145" bgcolor="transparent" style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 108.9pt; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; MSO-BORDER-TOP-ALT: solid windowtext .75pt; MSO-BORDER-RIGHT-ALT: solid windowtext .5pt; MSO-BORDER-BOTTOM-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 1.5in 202.5pt 3.0in 256.5pt 4.25in 5.0in 5.5in" align="center"><strong>Title
                of Securities to be
                Registered</strong></div>
            </td>
            <td valign="bottom" width="128" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 95.85pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8; MSO-BORDER-TOP-ALT: solid windowtext .75pt; MSO-BORDER-LEFT-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 1.5in 202.5pt 3.0in 256.5pt 4.25in 5.0in 5.5in" align="center"><strong>Amount
                to be Registered</strong></div>
            </td>
            <td valign="bottom" width="122" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; WIDTH: 91.35pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8; MSO-BORDER-TOP-ALT: solid windowtext .75pt; MSO-BORDER-LEFT-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 1.5in 202.5pt 3.0in 256.5pt 4.25in 5.0in 5.5in" align="center"><strong>Proposed
                Maximum Offering Price per
                Share</strong></div>
            </td>
            <td valign="bottom" width="122" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; WIDTH: 91.35pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8; MSO-BORDER-TOP-ALT: solid windowtext .75pt; MSO-BORDER-LEFT-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 1.5in 202.5pt 3.0in 256.5pt 4.25in 5.0in 5.5in" align="center"><strong>Proposed
                Maximum Aggregate Offering
                Price</strong></div>
            </td>
            <td valign="bottom" width="122" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; WIDTH: 91.35pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8; MSO-BORDER-TOP-ALT: solid windowtext .75pt; MSO-BORDER-LEFT-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 1.5in 3.0in 4.25in 5.5in" align="center"><strong>Amount
                of Registration Fee</strong></div>
            </td>
          </tr>
          <tr style="MSO-YFTI-IROW: 1;">
            <td valign="top" width="145" bgcolor="transparent" style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 108.9pt; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; MSO-BORDER-TOP-ALT: solid windowtext .5pt; MSO-BORDER-RIGHT-ALT: solid windowtext .5pt; MSO-BORDER-BOTTOM-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left; tab-stops: 1.5in 3.0in 4.25in 5.5in" align="left">Common
                Stock, par value $0.01 per share </div>
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left; tab-stops: 1.5in 3.0in 4.25in 5.5in" align="left">(and
                attached Preferred Stock Purchase Rights)</div>
              <div>&#160;</div>
            </td>
            <td width="128" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 95.85pt; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; MSO-BORDER-TOP-ALT: solid windowtext .75pt; MSO-BORDER-BOTTOM-ALT: solid windowtext .75pt; MSO-BORDER-LEFT-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">8,000,000
                shares (1)</div>
              <div>&#160;</div>
            </td>
            <td width="122" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; WIDTH: 91.35pt; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; MSO-BORDER-TOP-ALT: solid windowtext .75pt; MSO-BORDER-BOTTOM-ALT: solid windowtext .75pt; MSO-BORDER-LEFT-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt -2.25pt; TEXT-ALIGN: center; tab-stops: 1.5in 3.0in 4.25in 5.5in" align="center">$27.55
                (2)</div>
              <div>&#160;</div>
            </td>
            <td width="122" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; WIDTH: 91.35pt; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; MSO-BORDER-TOP-ALT: solid windowtext .75pt; MSO-BORDER-BOTTOM-ALT: solid windowtext .75pt; MSO-BORDER-LEFT-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt -0.05in; TEXT-ALIGN: center; tab-stops: 1.5in 3.0in 4.25in 5.5in" align="center">$220,400,000
                (2)</div>
              <div>&#160;</div>
            </td>
            <td width="122" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; WIDTH: 91.35pt; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; MSO-BORDER-TOP-ALT: solid windowtext .75pt; MSO-BORDER-BOTTOM-ALT: solid windowtext .75pt; MSO-BORDER-LEFT-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 1.5in 3.0in 4.25in 5.5in" align="center">$6,766.28</div>
              <div>&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt">&#160;</div>
    <div>
      <hr style="COLOR: black" align="center" noshade size="3" width="75%">
    </div>
    <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt">(1)&#160;&#160;
      Plus such additional shares of common stock, par value $0.01 per share of Avis
      Budget Group, Inc. (the &#8220;Company&#8221;) as may be issuable pursuant to the
      anti-dilution provisions of the Company&#8217;s 2007 Equity and Incentive Plan.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 6pt 0.25in; TEXT-INDENT: -0.25in">(2)&#160;&#160;
Estimated solely
      for the purpose of calculating the registration fee.
&#160;Pursuant to Rule 457(c) and Rule 457(h) of the Securities Act of 1933, as
      amended, the proposed maximum offering price per share and the proposed maximum
      aggregate offering price have been determined on the basis of the average of
      the
      high and low market prices of the Company&#8217;s common stock reported on the New
      York Stock Exchange on June 26, 2007.</div>
    <div>
      <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="1">
      <hr style="MARGIN-TOP: -13px; COLOR: #000000" noshade size="4">
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div><br clear="all"></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><strong>PART
      I</strong></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><strong>INFORMATION
      REQUIRED IN THE SECTION 10(a)
      PROSPECTUS</strong></div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left" align="left"><strong>Item
      1.&#160; Plan Information.</strong></div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
The document(s) containing the information
      specified in Part I of Form S-8 will
      be sent or given to participants in the Company&#8217;s 2007 Equity and Incentive Plan
      (the &#8220;2007 Plan&#8221;) as specified by Rule 428(b)(1) under the Securities Act of
      1933, as amended (the &#8220;Securities Act&#8221;).&#160; In accordance with the
      instructions of Part I of Form S&#8209;8, such documents will not be filed with the
      Securities and Exchange Commission (the &#8220;SEC&#8221;) either as part of this
      Registration Statement or as prospectuses or prospectus supplements pursuant
      to
      Rule 424 of the Securities Act.&#160; These documents and the documents
      incorporated by reference into this Registration Statement, taken together,
      constitute a prospectus meeting the requirements of Section 10(a) of the
      Securities Act.&#160; Requests for information should be directed to Avis Budget
      Group, Inc., 6 Sylvan Way, Parsippany, NJ, 07054, Attn:&#160; Jean Sera.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt"><strong>Item 2.&#160; Registration Information
      and Employee Plan Annual Information.</strong></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in">The written statement
      required by Item 2 is included in documents sent or given to participants in
      the
      plan covered by this registration statement pursuant to Rule 428(b)(1) of the
      Securities Act.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; tab-stops: 1.0in 1.5in 2.0in">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 1.0in 1.5in 2.0in" align="center"><strong>PART
      II</strong></div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 1.0in 1.5in 2.0in" align="center"><strong>INFORMATION
      REQUIRED IN THE REGISTRATION
      STATEMENT</strong></div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; tab-stops: 1.0in 1.5in 2.0in">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; tab-stops: 1.0in 1.5in 2.0in"><strong>Item
      3.&#160; Incorporation of Documents by Reference.</strong></div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; tab-stops: 45.0pt 1.5in 2.0in">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
The following
      documents, filed by the Company with the SEC, are hereby
      incorporated by reference:&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; tab-stops: 45.0pt 1.5in 2.0in">
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 45.8pt;"></font>(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
        Company&#8217;s Annual Report on Form 10-K for the year ended December 31,
        2006;</font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 45.8pt;"></font>(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
        Company&#8217;s Quarterly Report on Form 10-Q for the quarter ended March 31,
        2007;</font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 45pt;"></font>(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
        Company&#8217;s Current Reports on Form 8-K filed on February 9, 2007, March 5, 2007,
        June 8, 2007 and June 15, 2007; and</font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 45.8pt;"></font>(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
        description of the Company&#8217;s common stock contained in the Company&#8217;s
        Registration Statement on Form 8-A dated&#160;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman;">July 27, 1984
        and August
        15, 1989, </font>and the description of the Preferred Stock Purchase Rights in
        the Company&#8217;s Registration Statement on Form 8-A dated July 13, 2006, as amended
        by Form 8-A/A dated September 5, 2006. </font>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 45.8pt;"></font>All
        documents subsequently filed by
        the Company pursuant to Sections 13(a), 13(c), 14&#160;and 15(d) of the
        Securities Exchange Act of 1934, prior to the filing of a post-effective
        amendment which indicates that all securities then offered have been sold
        or
        which deregisters all securities then remaining unsold, shall be deemed to
        be
        incorporated by reference in this registration statement and to be a part
        hereof
        from the date of filing of such documents.&#160;&#160;Any statement contained
        herein or in a document incorporated or deemed to be incorporated by reference
        herein shall be deemed to be modified or superseded for purposes of this
        registration statement to the extent that such statement is modified or
        superseded by a subsequently filed document which also is or is deemed to
        be
        incorporated by reference herein.&#160;&#160;Any such statement so modified or
        superseded shall not be deemed to constitute a part of this registration
        statement except as so modified or superseded.</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Item
      4. Description of Securities.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">Not
      Applicable.</font></div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="MARGIN: 0in 0in 0pt; tab-stops: 1.0in 1.5in 2.0in">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; tab-stops: 1.0in 1.5in 2.0in"><strong>Item
      5.&#160; Interests of Named Experts and Counsel.</strong></div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; tab-stops: 1.0in 1.5in 2.0in">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; tab-stops: 45.0pt 1.5in 2.0in">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Karen C. Sclafani,
      Esq. has rendered an opinion on the validity of the
      securities being registered under the 2007 Plan pursuant to this Registration
      Statement.&#160; Ms. Sclafani is Executive Vice President and General Counsel of
      the Company.&#160; A copy of this opinion is attached as Exhibit 5.1 to this
      Registration Statement.&#160; Ms. Sclafani holds shares of common stock of the
      Company, restricted stock units and options to acquire shares of common stock
      of
      the Company.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; tab-stops: 45.0pt 1.5in 2.0in">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; tab-stops: 1.0in 1.5in 2.0in"><strong>Item
      6.&#160; Indemnification of Directors and Officers</strong>.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; tab-stops: 1.0in">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; tab-stops: 1.0in">Section
      102 of the Delaware General Corporation Law (the &#8220;DGCL&#8221;) allows a corporation to
      eliminate the personal liability of directors to a corporation or its
      stockholders for monetary damages for a breach of fiduciary duty as a director,
      except where the director breached his duty of loyalty to the corporation or
      its
      stockholders, failed to act in good faith, engaged in intentional misconduct
      or
      knowingly violated a law, authorized the payment of a dividend or approved
      a
      stock repurchase or redemption in violation of Delaware corporate law or
      obtained an improper personal benefit.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; tab-stops: 1.0in">Section
      145 of the DGCL grants the Company the power to indemnify each person who was
      or
      is a party or is threatened to be made a party to any threatened, pending or
      completed action, suit or proceeding, whether civil, criminal, administrative
      or
      investigative by reason of the fact that he is or was a director, officer,
      employee or agent of the Company, or is or was serving at the request of the
      Company as a director, officer, employee or agent of another corporation,
      partnership, joint venture, trust or other enterprise, against expenses
      (including attorneys&#8217; fees), judgments, fines and amounts paid in settlement
      actually and reasonably incurred by him in connection with such action, suit
      or
      proceeding if he acted in good faith and in a manner he reasonably believed
      to
      be in or not opposed to the best interests of the Company, and with respect
      to
      any criminal action or proceeding, had no reasonable cause to believe his
      conduct was unlawful, provided, however, no indemnification shall be made in
      connection with any proceeding brought by or in the right of the Company.&#160;
Where a present or former director or officer of the Company is successful
      on
      the merits or otherwise in the defense of any action, suit or proceeding
      referred to above or in defense of any claim, issue or matter therein, the
      Company must indemnify such person against the expenses (including attorneys&#8217;
fees) which he or she actually and reasonably incurred in connection
      therewith.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; tab-stops: 1.0in">Under
      Section 145 of the DGCL, advances for expenses may be made by agreement if
      the
      director or officer affirms in writing that he believes he has met the standards
      and will personally repay the expenses if it is determined such officer or
      director did not meet the standards. Under the Company&#8217;s certificate of
      incorporation, the Company will not indemnify any person who seeks
      indemnification in connection with a proceeding initiated by such officer or
      director unless the initiation was approved by the board of directors.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; tab-stops: 1.0in">The
      Company&#8217;s By-Laws contain provisions that provide for indemnification of
      officers and directors to the full extent permitted by, and in the manner
      permissible under, the DGCL.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; tab-stops: 1.0in">As
      permitted by Section 102(b)(7) of the DGCL, the Company&#8217;s Amended and Restated
      Certificate of Incorporation contains a provision eliminating the personal
      liability of a director to the Company or its stockholders for monetary damages
      for breach of fiduciary duty as a director, subject to certain exceptions.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; tab-stops: 1.0in">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; tab-stops: 1.0in">The
      Company also maintains, at its expense, policies of insurance which insure
      its
      directors and officers, subject to exclusions and deductions as are usual in
      these kinds of insurance policies, against specified liabilities which may
      be
      incurred in those capacities.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; tab-stops: 1.0in">&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="MARGIN: 0in 0in 0pt; tab-stops: 1.0in 1.5in 2.0in">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; tab-stops: 1.0in 1.5in 2.0in"><strong>Item
      7.&#160; Exemption From Registration Claimed.</strong></div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; tab-stops: 45.0pt 1.5in 2.0in">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Not Applicable.
</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; tab-stops: 1.0in 1.5in 2.0in">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; tab-stops: 1.0in 1.5in 2.0in"><strong>Item
      8.&#160; Exhibits</strong>.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 12pt; mso-layout-grid-align: none">4.1&#160;&#160;&#160;
      Amended and Restated Certificate of Incorporation of Avis Budget Group, Inc.
      (formerly known as &#8220;Cendant Corporation&#8221;) (incorporated by reference to Exhibit
      3.1 to the Company&#8217;s Current Report on Form 8-K dated September 5, 2006).</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 12pt; mso-layout-grid-align: none">4.2&#160;&#160;&#160;
      Amended and Restated By-Laws of Avis Budget Group, Inc. (incorporated by
      reference to Exhibit 3.1 to the Company&#8217;s Current Report on Form 8-K dated
      October 30, 2006).</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 12pt; mso-layout-grid-align: none">
      <div>&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;">4.3&#160;&#160;&#160;
        Amended and Restated Rights Agreement, dated as of September 1, 2006, by
        and
        between Avis Budget Group, Inc. and Mellon Investor Services LLC as Rights
        Agent, including the form of Certificate of Designation, Preferences and
        Rights
        of Series A Junior Participating Preferred Stock as Exhibit A thereto, the
        form
        of Rights Certificates as Exhibit B thereto, and the Summary of Rights as
        Exhibit C thereto. (Incorporated by reference to Exhibit 4.1 to the Company&#8217;s
        Registration Statement on Form 8-A/A dated September 5, 2006.)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    </div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 45pt">5.1&#160;&#160;&#160;
Opinion of Karen Sclafani,
      Esq.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 45pt">23.1&#160; Consent of
      Deloitte &amp; Touche, LLP</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -27pt; tab-stops: list 1.0in; mso-list: l0 level2 lfo1">23.2&#160;&#160;Consent
      of Karen Sclafani, Esq. (included in Exhibit 5.1 to this Registration
      Statement).</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 45pt">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt"><strong>Item 9.&#160;
Undertakings.</strong></div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; tab-stops: .5in 1.0in">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      The undersigned registrant hereby undertakes:</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 1in">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;
to file, during any period
      in which offers or sales are being made, a
      post-effective amendment to the Registration Statement.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt 1.5in">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
to include any prospectus required by
      Section 10(a)(3) of the Securities Act of
      1933;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt 1.5in">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;
to reflect in the prospectus any facts
      or events arising after the effective
      date of the Registration Statement (or the most recent post-effective amendment
      thereof) which, individually or in the aggregate, represent a fundamental change
      in the information set forth in the Registration Statement.&#160;
Notwithstanding the foregoing, any increase or decrease in volume of securities
      offered (if the total dollar value of securities offered would not exceed that
      which was registered) and any deviation from the low or high end of the
      estimated maximum offering range may be reflected in the form of prospectus
      filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the
      changes in volume and price represent no more than a 20% change in the maximum
      aggregate offering price set forth in the &#8220;Calculation of Registration Fee&#8221;
table in the effective Registration Statement.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt 1.5in">(iii)&#160;&#160;&#160;&#160;&#160;&#160;
to include any material information with
      respect to the plan of distribution not
      previously disclosed in the Registration Statement or any material change to
      such information in the Registration Statement;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt 1in">Provided however, that paragraphs (a)(1)(i)
      and (a)(1)(ii) above do not apply if the information required to be included
      in
      a post-effective amendment by these subparagraphs is contained in periodic
      reports filed with or furnished to the Commission by the registrant pursuant
      to
      Section 13 or 15(d) of the Securities Exchange Act of 1934, that are
      incorporated by reference in this Registration Statement; and</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 67.5pt">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
That, for the purpose
      of determining any liability under the Securities Act of
      1933, each such post-effective amendment shall be deemed to be a new
      registration statement relating to the securities offered therein, and the
      offering of such securities at that time shall be deemed to be the initial
      bona
      fide offering thereof.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 67.5pt">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
To remove from registration
      by means of a post-effective amendment any of the
      securities being registered which remain unsold at that termination of the
      offering.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;
The undersigned registrant
      hereby undertakes that, for purposes of determining
      any liability under the Securities Act of 1933, each filing of the registrant&#8217;s
      annual report pursuant to Section 13(a) or 15(d) of the Securities Exchange
      Act
      of 1934 (and, where applicable, each filing of an employee benefit plan&#8217;s annual
      report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that
      is
      incorporated by reference in this Registration Statement shall be deemed to
      be a
      new registration statement relating to the securities offered therein, and
      the
      offering of such securities at that time shall be deemed to be the initial
      bona
      fide offering thereof.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Insofar as indemnification
      for liabilities arising under the Securities Act may
      be permitted to directors, officers and controlling persons of the registrant
      pursuant to the foregoing provisions of this Registration Statement, or
      otherwise, the registrant has been advised that in the opinion of the Securities
      &amp; Exchange Commission such indemnification is against public policy as
      expressed in the Securities Act and is, therefore, unenforceable.&#160; In the
      event that a claim for indemnification against such liabilities (other than
      the
      payment by the registrant of expenses incurred or paid by the director, officer
      or controlling person of the registrant in the successful defense of any action,
      suit or proceeding) is asserted by such director, officer or controlling person
      in connection with the securities being registered, the registrant will, unless
      in the opinion of its counsel the matter has been settled by controlling
      precedent, submit to a court of appropriate jurisdiction the question whether
      such indemnification by it is against public policy as expressed in the
      Securities Act and will be governed by the final adjudication of such
      issue.</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div><br clear="all">
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><strong>SIGNATURES</strong></div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in">Pursuant to the
      requirements of the Securities Act of 1933, the Company certifies that it has
      reasonable grounds to believe that it meets all of the requirements for filing
      on Form S-8 and has duly caused this Registration Statement to be signed on
      its
      behalf by the undersigned, thereunto duly authorized, in the Township of
      Parsippany, State of New Jersey on the 28<sup>th</sup> day of June, 2007.</div>
    <div><strong>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</strong></div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt">
    </div>
    <div>&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none; BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 5.4pt 0in 5.4pt; mso-border-insidev: .5pt solid windowtext; mso-yfti-tbllook: 480; mso-border-insideh: .5pt solid windowtext; mso-border-alt: solid windowtext .5pt">

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              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left; tab-stops: 2.5in" align="left">&#160;</div>
              <div>&#160;</div>
            </td>
            <td valign="top" width="112" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: 1px solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 84.3pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left; tab-stops: 2.5in" align="left">&#160;</div>
              <div>&#160;</div>
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left; tab-stops: 2.5in" align="left">&#160;</div>
              <div>&#160;</div>
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right; tab-stops: 2.5in" align="right">By:</div>
            </td>
            <td valign="top" width="306" bgcolor="transparent" style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: 1px solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 229.5pt; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; MSO-BORDER-BOTTOM-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left; tab-stops: 2.5in" align="left"><strong>AVIS
                BUDGET GROUP, INC.</strong></div>
              <div>&#160;</div>
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left; tab-stops: 2.5in" align="left">&#160;</div>
              <div>&#160;</div>
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left; tab-stops: 2.5in" align="left">/s/
                Brett D. Weinblatt</div>
            </td>
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            <td valign="top" width="213" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: 1px solid; WIDTH: 159.6pt; PADDING-TOP: 0in; BORDER-BOTTOM: 1px solid">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left; tab-stops: 2.5in" align="left">&#160;</div>
              <div>&#160;</div>
            </td>
            <td valign="top" width="112" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 84.3pt; PADDING-TOP: 0in; BORDER-BOTTOM: 1px solid">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left; tab-stops: 2.5in" align="left">&#160;</div>
              <div>&#160;</div>
            </td>
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              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left; tab-stops: 2.5in" align="left">Name:&#160;
Brett
                D. Weinblatt</div>
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left; tab-stops: 2.5in" align="left">Title:&#160;&#160;
Senior
                Vice President and Chief Accounting
                Officer</div>
              <div>&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="MARGIN: 0in 0in 0pt; tab-stops: 2.25in">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in">Each person whose signature
      appears below hereby constitutes and appoints David B. Wyshner, Brett D.
      Weinblatt, Karen C. Sclafani and Jean M. Sera, and each of them, his or her
      true
      and lawful attorneys-in-fact and agents with full power of substitution and
      resubstitution, for him or her and in his or her name, place and stead, in
      any
      and all capacities, to sign any and all amendments (including post-effective
      amendments) and additions to this Registration Statement and to file the same,
      with all exhibits thereto, and other documents in connection therewith, with
      the
      Securities and Exchange Commission, and hereby grants to such attorneys-in-fact
      and agents full power and authority to do and perform each and every act and
      thing requisite and necessary to be done, as fully to all intents and purposes
      as he or she might or could do in person, hereby ratifying and confirming all
      that said attorneys-in-fact and agents or his or her substitute or substitutes
      may lawfully do or cause to be done by virtue hereof. </div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in">Pursuant to the
      requirements of the Securities Act of 1933, this Registration Statement has
      been
      signed below by the following persons in the capacities and on the dates
      indicated.</div>
    <div>&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
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            <td valign="top" width="223" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: 1px solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: 1px solid; WIDTH: 167.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><u>Signatures</u></div>
              <div>&#160;</div>
            </td>
            <td valign="top" width="264" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: 1px solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 2.75in; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><u>Title</u></div>
              <div>&#160;</div>
            </td>
            <td valign="top" width="150" bgcolor="transparent" style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: 1px solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 112.5pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><u>Date</u></div>
              <div>&#160;</div>
            </td>
          </tr>
          <tr style="MSO-YFTI-IROW: 1;">
            <td valign="top" width="223" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: 1px solid; WIDTH: 167.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              <div>&#160;</div>
            </td>
            <td valign="top" width="264" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 2.75in; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              <div>&#160;</div>
            </td>
            <td valign="top" width="150" bgcolor="transparent" style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 112.5pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              <div>&#160;</div>
            </td>
          </tr>
          <tr style="MSO-YFTI-IROW: 2;">
            <td valign="top" width="223" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: 1px solid; WIDTH: 167.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; MSO-BORDER-BOTTOM-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt">/s/ Ronald L. Nelson</div>
            </td>
            <td valign="top" width="264" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 2.75in; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">Chairman
                of the Board, Chief Executive Officer and Director</div>
            </td>
            <td valign="top" width="150" bgcolor="transparent" style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 112.5pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">June
                28,
                2007</div>
            </td>
          </tr>
          <tr style="MSO-YFTI-IROW: 3;">
            <td valign="top" width="223" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: 1px solid; WIDTH: 167.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8; MSO-BORDER-TOP-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan">Ronald
                L. Nelson</div>
            </td>
            <td valign="top" width="264" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 2.75in; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan">&#160;</div>
              <div>&#160;</div>
            </td>
            <td valign="top" width="150" bgcolor="transparent" style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 112.5pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">&#160;</div>
              <div>&#160;</div>
            </td>
          </tr>
          <tr style="MSO-YFTI-IROW: 5;">
            <td valign="top" width="223" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: 1px solid; WIDTH: 167.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; MSO-BORDER-BOTTOM-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan">&#160;</div>
            </td>
            <td valign="top" width="264" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 2.75in; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">President
                and Chief Operating Officer and Director</div>
            </td>
            <td valign="top" width="150" bgcolor="transparent" style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 112.5pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</div>
            </td>
          </tr>
          <tr style="MSO-YFTI-IROW: 6;">
            <td valign="top" width="223" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: 1px solid; WIDTH: 167.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8; MSO-BORDER-TOP-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan">F.
                Robert Salerno</div>
              <div>&#160;</div>
            </td>
            <td valign="top" width="264" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 2.75in; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan">&#160;</div>
              <div>&#160;</div>
            </td>
            <td valign="top" width="150" bgcolor="transparent" style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 112.5pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">&#160;</div>
              <div>&#160;</div>
            </td>
          </tr>
          <tr style="MSO-YFTI-IROW: 8;">
            <td valign="top" width="223" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: 1px solid; WIDTH: 167.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; MSO-BORDER-BOTTOM-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan">&#160;</div>
              <div>&#160;</div>
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan">/s/
                David B. Wyshner</div>
            </td>
            <td valign="top" width="264" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 2.75in; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">Executive
                Vice President, Chief Financial Officer and
                Treasurer</div>
            </td>
            <td valign="top" width="150" bgcolor="transparent" style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 112.5pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">&#160;</div>
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">June
                28,
                2007</div>
            </td>
          </tr>
          <tr style="MSO-YFTI-IROW: 9;">
            <td valign="top" width="223" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: 1px solid; WIDTH: 167.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8; MSO-BORDER-TOP-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan">David
                B. Wyshner</div>
              <div>&#160;</div>
              <div>&#160;</div>
            </td>
            <td valign="top" width="264" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 2.75in; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan">&#160;</div>
              <div>&#160;</div>
            </td>
            <td valign="top" width="150" bgcolor="transparent" style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 112.5pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">&#160;</div>
              <div>&#160;</div>
            </td>
          </tr>
          <tr style="MSO-YFTI-IROW: 11;">
            <td valign="top" width="223" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: 1px solid; WIDTH: 167.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; MSO-BORDER-BOTTOM-ALT: solid windowtext .5pt">
              <div>/s/ Mary C. Choksi </div>
            </td>
            <td valign="top" width="264" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 2.75in; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">Director</div>
            </td>
            <td valign="top" width="150" bgcolor="transparent" style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 112.5pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">June
                28,
                2007</div>
            </td>
          </tr>
          <tr style="MSO-YFTI-IROW: 12;">
            <td valign="top" width="223" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: 1px solid; WIDTH: 167.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8; MSO-BORDER-TOP-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan">Mary
                C. Choksi</div>
              <div>&#160;</div>
              <div>&#160;</div>
            </td>
            <td valign="top" width="264" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 2.75in; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">&#160;</div>
              <div>&#160;</div>
            </td>
            <td valign="top" width="150" bgcolor="transparent" style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 112.5pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">&#160;</div>
              <div>&#160;</div>
            </td>
          </tr>
          <tr style="MSO-YFTI-IROW: 14;">
            <td valign="top" width="223" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: 1px solid; WIDTH: 167.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; MSO-BORDER-BOTTOM-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan">/s/
                Leonard S. Coleman</div>
            </td>
            <td valign="top" width="264" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 2.75in; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">Director</div>
            </td>
            <td valign="top" width="150" bgcolor="transparent" style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 112.5pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">June
                28,
                2007</div>
            </td>
          </tr>
          <tr style="MSO-YFTI-IROW: 15;">
            <td valign="top" width="223" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: 1px solid; WIDTH: 167.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8; MSO-BORDER-TOP-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan">Leonard
                S. Coleman</div>
              <div>&#160;</div>
            </td>
            <td valign="top" width="264" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 2.75in; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">&#160;</div>
              <div>&#160;</div>
            </td>
            <td valign="top" width="150" bgcolor="transparent" style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 112.5pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">&#160;</div>
              <div>&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">
      <table cellpadding="0" cellspacing="0" width="637" style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; WIDTH: 477.9pt; BORDER-BOTTOM: medium none; BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 5.4pt 0in 5.4pt; mso-border-bottom-alt: solid windowtext .5pt">

          <tr style="MSO-YFTI-FIRSTROW: yes; MSO-YFTI-IROW: 0;">
            <td valign="top" width="223" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: 1px solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: 1px solid; WIDTH: 167.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan"><strong>/s/
                </strong>Martin L. Edelman</div>
            </td>
            <td valign="top" width="264" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: 1px solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 2.75in; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">Director</div>
            </td>
            <td valign="top" width="150" bgcolor="transparent" style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: 1px solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 112.5pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">June
                28,
                2007</div>
            </td>
          </tr>
          <tr style="MSO-YFTI-IROW: 1;">
            <td valign="top" width="223" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: 1px solid; WIDTH: 167.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8; MSO-BORDER-TOP-ALT: solid windowtext .5pt">
              <div style="TEXT-ALIGN: left" align="left">Martin L. Edelman</div>
              <div>&#160;</div>
            </td>
            <td valign="top" width="264" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 2.75in; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">&#160;</div>
              <div>&#160;</div>
            </td>
            <td valign="top" width="150" bgcolor="transparent" style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 112.5pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">&#160;</div>
              <div>&#160;</div>
            </td>
          </tr>
          <tr style="MSO-YFTI-IROW: 3;">
            <td valign="top" width="223" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: 1px solid; WIDTH: 167.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan">/s/
                Lynn Krominga<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;</div>
            </td>
            <td valign="top" width="264" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 2.75in; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">Director</div>
            </td>
            <td valign="top" width="150" bgcolor="transparent" style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 112.5pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">June
                28,
                2007</div>
            </td>
          </tr>
          <tr style="MSO-YFTI-IROW: 4;">
            <td valign="top" width="223" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: 1px solid; WIDTH: 167.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8; MSO-BORDER-TOP-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan">Lynn
                Krominga</div>
              <div>&#160;</div>
              <div>&#160;</div>
            </td>
            <td valign="top" width="264" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 2.75in; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">&#160;</div>
              <div>&#160;</div>
            </td>
            <td valign="top" width="150" bgcolor="transparent" style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 112.5pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">&#160;</div>
              <div>&#160;</div>
            </td>
          </tr>
          <tr style="MSO-YFTI-IROW: 6;">
            <td valign="top" width="223" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: 1px solid; WIDTH: 167.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan">/s/
                Sheli Z. Rosenberg </div>
            </td>
            <td valign="top" width="264" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 2.75in; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">Director</div>
            </td>
            <td valign="top" width="150" bgcolor="transparent" style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 112.5pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">June
                28,
                2007</div>
            </td>
          </tr>
          <tr style="MSO-YFTI-IROW: 7;">
            <td valign="top" width="223" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: 1px solid; WIDTH: 167.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8; MSO-BORDER-TOP-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan">Sheli
                Z. Rosenberg</div>
              <div>&#160;</div>
              <div>&#160;</div>
            </td>
            <td valign="top" width="264" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 2.75in; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">&#160;</div>
              <div>&#160;</div>
            </td>
            <td valign="top" width="150" bgcolor="transparent" style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 112.5pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">&#160;</div>
              <div>&#160;</div>
            </td>
          </tr>
          <tr style="MSO-YFTI-IROW: 9;">
            <td valign="top" width="223" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: 1px solid; WIDTH: 167.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan">/s/
                Stender E. Sweeney </div>
            </td>
            <td valign="top" width="264" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 2.75in; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">Director</div>
            </td>
            <td valign="top" width="150" bgcolor="transparent" style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 112.5pt; PADDING-TOP: 0in; BORDER-BOTTOM: #ece9d8">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center">June
                28,
                2007</div>
            </td>
          </tr>
          <tr style="MSO-YFTI-IROW: 10; MSO-YFTI-LASTROW: yes;">
            <td valign="top" width="223" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: 1px solid; WIDTH: 167.4pt; PADDING-TOP: 0in; BORDER-BOTTOM: 1px solid; MSO-BORDER-TOP-ALT: solid windowtext .5pt">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan">Stender
                E. Sweeney</div>
              <div>&#160;</div>
            </td>
            <td valign="top" width="264" bgcolor="transparent" style="BORDER-RIGHT: #ece9d8; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 2.75in; PADDING-TOP: 0in; BORDER-BOTTOM: 1px solid">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">&#160;</div>
              <div>&#160;</div>
            </td>
            <td valign="top" width="150" bgcolor="transparent" style="BORDER-RIGHT: 1px solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: #ece9d8; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: #ece9d8; WIDTH: 112.5pt; PADDING-TOP: 0in; BORDER-BOTTOM: 1px solid">
              <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; tab-stops: 45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt; mso-pagination: widow-orphan" align="center">&#160;</div>
              <div>&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0pt; tab-stops: 1.0in 1.5in 2.0in" align="center"><strong><u>EXHIBIT
        INDEX</u></strong></div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0pt; tab-stops: 1.0in 1.5in 2.0in" align="center">&#160;</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 12pt; mso-layout-grid-align: none">4.1&#160;&#160;&#160;
        Amended and Restated Certificate of Incorporation of Avis Budget Group, Inc.
        (formerly known as &#8220;Cendant Corporation&#8221;) (incorporated by reference to Exhibit
        3.1 to the Company&#8217;s Current Report on Form 8-K dated September 5, 2006).</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 12pt; mso-layout-grid-align: none">4.2&#160;&#160;&#160;
        Amended and Restated By-Laws of Avis Budget Group, Inc. (incorporated by
        reference to Exhibit 3.1 to the Company&#8217;s Current Report on Form 8-K dated
        October 30, 2006).</div>
      <div>&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; MARGIN-RIGHT: 0pt">4.3 &#160;
        Amended and Restated Rights Agreement, dated as of September 1, 2006, by
        and
        between Avis Budget Group, Inc. and Mellon Investor Services LLC as Rights
        Agent, including the form of Certificate of Designation, Preferences and
        Rights
        of Series A Junior Participating Preferred Stock as Exhibit A thereto, the
        form
        of Rights Certificates as Exhibit B thereto, and the Summary of Rights as
        Exhibit C thereto. (Incorporated by reference to Exhibit 4.1 to the Company&#8217;s
        Registration Statement on Form 8-A/A dated September 5, 2006.)</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; MARGIN-RIGHT: 0pt">&#160;</div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 45pt">5.1&#160;&#160;&#160;
Opinion of Karen Sclafani,
        Esq.</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 45pt">23.1&#160; Consent of
        Deloitte &amp; Touche, LLP</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -27pt; tab-stops: list 1.0in; mso-list: l0 level2 lfo1">23.2&#160;&#160;Consent
        of Karen Sclafani, Esq. (included in Exhibit 5.1 to this Registration
        Statement).</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt 45pt">&#160;</div>
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registrationstatement.htm
As
      filed with the Securities and Exchange Commission on June 28,
      2007
No.
      333-
UNITED
      STATES SECURITIES AND EXCHANGE COMMISSION
Washington,
      D.C.  20549
FORM
      S-8
REGISTRATION
      STATEMENT UNDER THE SECURITIES ACT OF 1933
AVIS
      BUDGET GROUP, INC.
(Exact
      name of registrant as specified in its charter)
Delaware
06
‑
0918165
(State
      or other jurisdiction
      of                                      
     (I.R.S. Employer
incorporation
      or
      organization)                                       
  Identification No.)
6 Sylvan Way, Parsippany,
      NJ
07054
(Address of Principal Executive
      Offices)                                  
  (Zip Code)
AVIS
      BUDGET GROUP, INC. 2007 EQUITY AND INCENTIVE PLAN
(Full
      title of the plan)
David
      B. Wyshner
Executive
      Vice President, Chief Financial Officer and
      Treasurer
Avis
      Budget Group, Inc.
6
      Sylvan Way
Parsippany,
      NJ 07054
(973)
      496-4700
(Name, address
      and telephone number, including area code,
of agent
      for
      service)
with a copy
      to:
Karen
      C. Sclafani
Avis
      Budget Group, Inc.
6
      Sylvan Way
Parsippany,
      NJ 07054
(973)
      496-4700
CALCULATION
      OF REGISTRATION FEE
Title
                of Securities to be
                Registered
Amount
                to be Registered
Proposed
                Maximum Offering Price per
                Share
Proposed
                Maximum Aggregate Offering
                Price
Amount
                of Registration Fee
Common
                Stock, par value $0.01 per share
(and
                attached Preferred Stock Purchase Rights)
8,000,000
                shares (1)
$27.55
                (2)
$220,400,000
                (2)
$6,766.28
(1)  
      Plus such additional shares of common stock, par value $0.01 per share of Avis
      Budget Group, Inc. (the "Company") as may be issuable pursuant to the
      anti-dilution provisions of the Company's 2007 Equity and Incentive Plan.
(2)  
Estimated solely
      for the purpose of calculating the registration fee.
 Pursuant to Rule 457(c) and Rule 457(h) of the Securities Act of 1933, as
      amended, the proposed maximum offering price per share and the proposed maximum
      aggregate offering price have been determined on the basis of the average of
      the
      high and low market prices of the Company's common stock reported on the New
      York Stock Exchange on June 26, 2007.
PART
      I
INFORMATION
      REQUIRED IN THE SECTION 10(a)
      PROSPECTUS
Item
      1.  Plan Information.
The document(s) containing the information
      specified in Part I of Form S-8 will
      be sent or given to participants in the Company's 2007 Equity and Incentive Plan
      (the "2007 Plan") as specified by Rule 428(b)(1) under the Securities Act of
      1933, as amended (the "Securities Act").  In accordance with the
      instructions of Part I of Form S‑8, such documents will not be filed with the
      Securities and Exchange Commission (the "SEC") either as part of this
      Registration Statement or as prospectuses or prospectus supplements pursuant
      to
      Rule 424 of the Securities Act.  These documents and the documents
      incorporated by reference into this Registration Statement, taken together,
      constitute a prospectus meeting the requirements of Section 10(a) of the
      Securities Act.  Requests for information should be directed to Avis Budget
      Group, Inc., 6 Sylvan Way, Parsippany, NJ, 07054, Attn:  Jean Sera.
Item 2.  Registration Information
      and Employee Plan Annual Information.
The written statement
      required by Item 2 is included in documents sent or given to participants in
      the
      plan covered by this registration statement pursuant to Rule 428(b)(1) of the
      Securities Act.
PART
      II
INFORMATION
      REQUIRED IN THE REGISTRATION
      STATEMENT
Item
      3.  Incorporation of Documents by Reference.
The following
      documents, filed by the Company with the SEC, are hereby
      incorporated by reference:
(a)        the
        Company's Annual Report on Form 10-K for the year ended December 31,
        2006;
(b)        the
        Company's Quarterly Report on Form 10-Q for the quarter ended March 31,
        2007;
(c)         the
        Company's Current Reports on Form 8-K filed on February 9, 2007, March 5, 2007,
        June 8, 2007 and June 15, 2007; and
(d)        the
        description of the Company's common stock contained in the Company's
        Registration Statement on Form 8-A dated
July 27, 1984
        and August
        15, 1989,
and the description of the Preferred Stock Purchase Rights in
        the Company's Registration Statement on Form 8-A dated July 13, 2006, as amended
        by Form 8-A/A dated September 5, 2006.
All
        documents subsequently filed by
        the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the
        Securities Exchange Act of 1934, prior to the filing of a post-effective
        amendment which indicates that all securities then offered have been sold
        or
        which deregisters all securities then remaining unsold, shall be deemed to
        be
        incorporated by reference in this registration statement and to be a part
        hereof
        from the date of filing of such documents.  Any statement contained
        herein or in a document incorporated or deemed to be incorporated by reference
        herein shall be deemed to be modified or superseded for purposes of this
        registration statement to the extent that such statement is modified or
        superseded by a subsequently filed document which also is or is deemed to
        be
        incorporated by reference herein.  Any such statement so modified or
        superseded shall not be deemed to constitute a part of this registration
        statement except as so modified or superseded.
Item
      4. Description of Securities.
Not
      Applicable.
Item
      5.  Interests of Named Experts and Counsel.
Karen C. Sclafani,
      Esq. has rendered an opinion on the validity of the
      securities being registered under the 2007 Plan pursuant to this Registration
      Statement.  Ms. Sclafani is Executive Vice President and General Counsel of
      the Company.  A copy of this opinion is attached as Exhibit 5.1 to this
      Registration Statement.  Ms. Sclafani holds shares of common stock of the
      Company, restricted stock units and options to acquire shares of common stock
      of
      the Company.
Item
      6.  Indemnification of Directors and Officers
.
Section
      102 of the Delaware General Corporation Law (the "DGCL") allows a corporation to
      eliminate the personal liability of directors to a corporation or its
      stockholders for monetary damages for a breach of fiduciary duty as a director,
      except where the director breached his duty of loyalty to the corporation or
      its
      stockholders, failed to act in good faith, engaged in intentional misconduct
      or
      knowingly violated a law, authorized the payment of a dividend or approved
      a
      stock repurchase or redemption in violation of Delaware corporate law or
      obtained an improper personal benefit.
Section
      145 of the DGCL grants the Company the power to indemnify each person who was
      or
      is a party or is threatened to be made a party to any threatened, pending or
      completed action, suit or proceeding, whether civil, criminal, administrative
      or
      investigative by reason of the fact that he is or was a director, officer,
      employee or agent of the Company, or is or was serving at the request of the
      Company as a director, officer, employee or agent of another corporation,
      partnership, joint venture, trust or other enterprise, against expenses
      (including attorneys' fees), judgments, fines and amounts paid in settlement
      actually and reasonably incurred by him in connection with such action, suit
      or
      proceeding if he acted in good faith and in a manner he reasonably believed
      to
      be in or not opposed to the best interests of the Company, and with respect
      to
      any criminal action or proceeding, had no reasonable cause to believe his
      conduct was unlawful, provided, however, no indemnification shall be made in
      connection with any proceeding brought by or in the right of the Company. 
Where a present or former director or officer of the Company is successful
      on
      the merits or otherwise in the defense of any action, suit or proceeding
      referred to above or in defense of any claim, issue or matter therein, the
      Company must indemnify such person against the expenses (including attorneys'
fees) which he or she actually and reasonably incurred in connection
      therewith.
Under
      Section 145 of the DGCL, advances for expenses may be made by agreement if
      the
      director or officer affirms in writing that he believes he has met the standards
      and will personally repay the expenses if it is determined such officer or
      director did not meet the standards. Under the Company's certificate of
      incorporation, the Company will not indemnify any person who seeks
      indemnification in connection with a proceeding initiated by such officer or
      director unless the initiation was approved by the board of directors.
The
      Company's By-Laws contain provisions that provide for indemnification of
      officers and directors to the full extent permitted by, and in the manner
      permissible under, the DGCL.
As
      permitted by Section 102(b)(7) of the DGCL, the Company's Amended and Restated
      Certificate of Incorporation contains a provision eliminating the personal
      liability of a director to the Company or its stockholders for monetary damages
      for breach of fiduciary duty as a director, subject to certain exceptions.
The
      Company also maintains, at its expense, policies of insurance which insure
      its
      directors and officers, subject to exclusions and deductions as are usual in
      these kinds of insurance policies, against specified liabilities which may
      be
      incurred in those capacities.
Item
      7.  Exemption From Registration Claimed.
Not Applicable.
Item
      8.  Exhibits
.
4.1   
      Amended and Restated Certificate of Incorporation of Avis Budget Group, Inc.
      (formerly known as "Cendant Corporation") (incorporated by reference to Exhibit
      3.1 to the Company's Current Report on Form 8-K dated September 5, 2006).
4.2   
      Amended and Restated By-Laws of Avis Budget Group, Inc. (incorporated by
      reference to Exhibit 3.1 to the Company's Current Report on Form 8-K dated
      October 30, 2006).
4.3   
        Amended and Restated Rights Agreement, dated as of September 1, 2006, by
        and
        between Avis Budget Group, Inc. and Mellon Investor Services LLC as Rights
        Agent, including the form of Certificate of Designation, Preferences and
        Rights
        of Series A Junior Participating Preferred Stock as Exhibit A thereto, the
        form
        of Rights Certificates as Exhibit B thereto, and the Summary of Rights as
        Exhibit C thereto. (Incorporated by reference to Exhibit 4.1 to the Company's
        Registration Statement on Form 8-A/A dated September 5, 2006.)
5.1   
Opinion of Karen Sclafani,
      Esq.
23.1  Consent of
      Deloitte & Touche, LLP
23.2  Consent
      of Karen Sclafani, Esq. (included in Exhibit 5.1 to this Registration
      Statement).
Item 9. 
Undertakings.
(a)       
      The undersigned registrant hereby undertakes:
(1)       
to file, during any period
      in which offers or sales are being made, a
      post-effective amendment to the Registration Statement.
(i)        
to include any prospectus required by
      Section 10(a)(3) of the Securities Act of
      1933;
(ii)       
to reflect in the prospectus any facts
      or events arising after the effective
      date of the Registration Statement (or the most recent post-effective amendment
      thereof) which, individually or in the aggregate, represent a fundamental change
      in the information set forth in the Registration Statement. 
Notwithstanding the foregoing, any increase or decrease in volume of securities
      offered (if the total dollar value of securities offered would not exceed that
      which was registered) and any deviation from the low or high end of the
      estimated maximum offering range may be reflected in the form of prospectus
      filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the
      changes in volume and price represent no more than a 20% change in the maximum
      aggregate offering price set forth in the "Calculation of Registration Fee"
table in the effective Registration Statement.
(iii)      
to include any material information with
      respect to the plan of distribution not
      previously disclosed in the Registration Statement or any material change to
      such information in the Registration Statement;
Provided however, that paragraphs (a)(1)(i)
      and (a)(1)(ii) above do not apply if the information required to be included
      in
      a post-effective amendment by these subparagraphs is contained in periodic
      reports filed with or furnished to the Commission by the registrant pursuant
      to
      Section 13 or 15(d) of the Securities Exchange Act of 1934, that are
      incorporated by reference in this Registration Statement; and
(2)        
That, for the purpose
      of determining any liability under the Securities Act of
      1933, each such post-effective amendment shall be deemed to be a new
      registration statement relating to the securities offered therein, and the
      offering of such securities at that time shall be deemed to be the initial
      bona
      fide offering thereof.
(3)        
To remove from registration
      by means of a post-effective amendment any of the
      securities being registered which remain unsold at that termination of the
      offering.
(b)       
The undersigned registrant
      hereby undertakes that, for purposes of determining
      any liability under the Securities Act of 1933, each filing of the registrant's
      annual report pursuant to Section 13(a) or 15(d) of the Securities Exchange
      Act
      of 1934 (and, where applicable, each filing of an employee benefit plan's annual
      report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that
      is
      incorporated by reference in this Registration Statement shall be deemed to
      be a
      new registration statement relating to the securities offered therein, and
      the
      offering of such securities at that time shall be deemed to be the initial
      bona
      fide offering thereof.
(c)       
Insofar as indemnification
      for liabilities arising under the Securities Act may
      be permitted to directors, officers and controlling persons of the registrant
      pursuant to the foregoing provisions of this Registration Statement, or
      otherwise, the registrant has been advised that in the opinion of the Securities
      & Exchange Commission such indemnification is against public policy as
      expressed in the Securities Act and is, therefore, unenforceable.  In the
      event that a claim for indemnification against such liabilities (other than
      the
      payment by the registrant of expenses incurred or paid by the director, officer
      or controlling person of the registrant in the successful defense of any action,
      suit or proceeding) is asserted by such director, officer or controlling person
      in connection with the securities being registered, the registrant will, unless
      in the opinion of its counsel the matter has been settled by controlling
      precedent, submit to a court of appropriate jurisdiction the question whether
      such indemnification by it is against public policy as expressed in the
      Securities Act and will be governed by the final adjudication of such
      issue.
SIGNATURES
Pursuant to the
      requirements of the Securities Act of 1933, the Company certifies that it has
      reasonable grounds to believe that it meets all of the requirements for filing
      on Form S-8 and has duly caused this Registration Statement to be signed on
      its
      behalf by the undersigned, thereunto duly authorized, in the Township of
      Parsippany, State of New Jersey on the 28
th
day of June, 2007.
By:
AVIS
                BUDGET GROUP, INC.
/s/
                Brett D. Weinblatt
Name: 
Brett
                D. Weinblatt
Title:  
Senior
                Vice President and Chief Accounting
                Officer
Each person whose signature
      appears below hereby constitutes and appoints David B. Wyshner, Brett D.
      Weinblatt, Karen C. Sclafani and Jean M. Sera, and each of them, his or her
      true
      and lawful attorneys-in-fact and agents with full power of substitution and
      resubstitution, for him or her and in his or her name, place and stead, in
      any
      and all capacities, to sign any and all amendments (including post-effective
      amendments) and additions to this Registration Statement and to file the same,
      with all exhibits thereto, and other documents in connection therewith, with
      the
      Securities and Exchange Commission, and hereby grants to such attorneys-in-fact
      and agents full power and authority to do and perform each and every act and
      thing requisite and necessary to be done, as fully to all intents and purposes
      as he or she might or could do in person, hereby ratifying and confirming all
      that said attorneys-in-fact and agents or his or her substitute or substitutes
      may lawfully do or cause to be done by virtue hereof.
Pursuant to the
      requirements of the Securities Act of 1933, this Registration Statement has
      been
      signed below by the following persons in the capacities and on the dates
      indicated.
Signatures
Title
Date
/s/ Ronald L. Nelson
Chairman
                of the Board, Chief Executive Officer and Director
June
                28,
                2007
Ronald
                L. Nelson
President
                and Chief Operating Officer and Director
F.
                Robert Salerno
/s/
                David B. Wyshner
Executive
                Vice President, Chief Financial Officer and
                Treasurer
June
                28,
                2007
David
                B. Wyshner
/s/ Mary C. Choksi
Director
June
                28,
                2007
Mary
                C. Choksi
/s/
                Leonard S. Coleman
Director
June
                28,
                2007
Leonard
                S. Coleman
/s/
Martin L. Edelman
Director
June
                28,
                2007
Martin L. Edelman
/s/
                Lynn Krominga
Director
June
                28,
                2007
Lynn
                Krominga
/s/
                Sheli Z. Rosenberg
Director
June
                28,
                2007
Sheli
                Z. Rosenberg
/s/
                Stender E. Sweeney
Director
June
                28,
                2007
Stender
                E. Sweeney
EXHIBIT
        INDEX
4.1   
        Amended and Restated Certificate of Incorporation of Avis Budget Group, Inc.
        (formerly known as "Cendant Corporation") (incorporated by reference to Exhibit
        3.1 to the Company's Current Report on Form 8-K dated September 5, 2006).
4.2   
        Amended and Restated By-Laws of Avis Budget Group, Inc. (incorporated by
        reference to Exhibit 3.1 to the Company's Current Report on Form 8-K dated
        October 30, 2006).
4.3  
        Amended and Restated Rights Agreement, dated as of September 1, 2006, by
        and
        between Avis Budget Group, Inc. and Mellon Investor Services LLC as Rights
        Agent, including the form of Certificate of Designation, Preferences and
        Rights
        of Series A Junior Participating Preferred Stock as Exhibit A thereto, the
        form
        of Rights Certificates as Exhibit B thereto, and the Summary of Rights as
        Exhibit C thereto. (Incorporated by reference to Exhibit 4.1 to the Company's
        Registration Statement on Form 8-A/A dated September 5, 2006.)
5.1   
Opinion of Karen Sclafani,
        Esq.
23.1  Consent of
        Deloitte & Touche, LLP
23.2  Consent
        of Karen Sclafani, Esq. (included in Exhibit 5.1 to this Registration
        Statement).