| HERTZ GLOBAL HOLDINGS ANNOUNCES PRICING OF US$400,000,000 PRIVATE OFFERING OF SENIOR NOTES BY THE HERTZ CORPORATION PARK RIDGE, NJ, September 20, 2010 — Hertz Global Holdings (NYSE:HTZ) (“Hertz Holdings”) announced today that its wholly owned subsidiary, The Hertz Corporation (“Hertz”), had entered into an agreement to sell US$400,000,000 aggregate principal amount of 7.50% Senior Notes due 2018 (the “Notes”) in a private offering (the “Offering”) exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The closing of the Offering is expected to occur on or about September 30, 2010, subject to customary closing conditions. The notes are expected to constitute a further issuance of, will be fungible with and will be consolidated and form a single series with the 7.50% Senior Notes due 2018 priced on September 16, 2010 in the aggregate principal amount of US$300,000,000 and anticipated to be delivered on September 30, 2010. The Notes will pay interest semi-annually in arrears. The Notes will be guaranteed on a senior unsecured basis by the domestic subsidiaries of Hertz that guarantee its senior credit facilities. Hertz intends to use the proceeds from the Offering of the Notes for general corporate purposes, which may include repayment of consolidated indebtedness or funding a portion of the cash consideration for the acquisition of Dollar Thrifty Automotive Group (“Dollar Thrifty”) by Hertz Holdings. This news release does not constitute an offer to sell or the solicitation of an offer to buy any of the notes and the guarantees or any other securities, nor will there be any sale of the notes or any other securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The notes and the guarantees will be issued in reliance on the exemption from the registration requirements provided by Rule 144A under the Securities Act and, outside of the United States, only to non-U.S. investors pursuant to Regulation S under the Securities Act. None of the notes and the guarantees has been registered under the Securities Act or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. About Hertz Hertz is the world’s largest general use car rental brand, operating from approximately 8,300 locations in 146 countries worldwide. Hertz is the number one airport car rental brand in the U.S. and at 81 major airports in Europe, operating both corporate and licensee locations in cities and airports in North America, Europe, Latin America, Asia, Australia and New Zealand. In addition, the Company has licensee locations in cities and airports in Africa and the Middle East. Product and service initiatives such as Hertz #1 Club Gold®, NeverLost® customized, onboard navigation systems, SIRIUS XM Satellite Radio, and unique cars and SUVs offered through the Company’s Prestige, Fun and Green Collections, set Hertz apart from the competition. In 2008, the Company launched Connect by Hertz, entering the global car sharing market in London, New York City and Paris. Hertz also operates one of the world’s largest equipment rental businesses, Hertz Equipment Rental Corporation, offering a diverse line of equipment, including tools and supplies, as well as new and used equipment for sale, to customers ranging from major industrial companies to local contractors and consumers from approximately 325 branches in the United States, Canada, China, France, Spain and Italy. |