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FOR IMMEDIATE RELEASE
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               UNITED RENTALS ANNOUNCES REVISED EARNINGS GUIDANCE

                    Acquires 35 Trench Shoring Locations from
                           National Equipment Services

         GREENWICH, CT, July 1, 2002 -- United Rentals, Inc. (NYSE:URI) today
announced that it has revised its earnings guidance because of the delay in the
expected recovery in non-residential construction spending. For the second
quarter ended June 30, 2002, the Company projects earnings per share of between
$0.50 and $0.54. The Company projects earnings per share of $1.70 for 2002 and
$2.50 for 2003.

         The Company also announced that it has acquired from National Equipment
Services (NYSE:NSV) 35 locations in 12 states that primarily rent trench shoring
and shielding equipment, road plates, slide rail systems and other specialty
underground equipment. Revenues of the acquired locations were $56 million in
2001. The purchase price was approximately $110 million. Rental of trench
shoring and related equipment provides high margins and significant
cross-selling opportunities.

         United Rentals, Inc. is the largest equipment rental company in North
America, with an integrated network of more than 750 locations in 47 states,
seven Canadian provinces, and Mexico. The Company serves more than 1.4 million
customers, including construction and industrial companies, manufacturers,
utilities, municipalities, homeowners and others. The Company offers for rent
over 600 different types of equipment with a total original cost of
approximately $3.5 billion. Additional information about United Rentals is
available at the Company's web site at www.unitedrentals.com.
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         Certain statements contained in this press release are forward-looking
in nature. These statements can be identified by the use of forward-looking
terminology such as "believes," "expects," "projects," "forecasts," "may,"
"will," "should," "on track" or "anticipates" or the negative thereof or
comparable terminology, or by discussions of strategy. The Company's business
and operations are subject to a variety of risks and uncertainties and,
consequently, actual results may materially differ from those projected by any
forward-looking statements. Factors that could cause actual results to differ
from those projected include, but are not limited to, the following: (1)
unfavorable economic and industry conditions can reduce demand and prices for
the Company's products and services, (2) governmental funding for highway and
other construction projects may not reach expected levels, (3) the Company may
not have access to capital that it may require, and (4) any companies that
United Rentals acquire could have undiscovered liabilities and may be difficult
to integrate. These risks and uncertainties, as well as others, are discussed in
greater detail in the Company's filings with the Securities and Exchange
Commission, including its most recent Annual Report on Form 10-K. The Company
makes no

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commitment to revise or update any forward-looking statements in order to
reflect events or circumstances after the date any such statement is made.

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Contact:
Fred Bratman
Vice President, Corporate Communications
United Rentals, Inc.
(203) 618-7323
fbratman@ur.com

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