Hertz Announces Earnings Guidance for Second Quarter and Full Year 2009

Market Wire, June, 2009

Hertz Global Holdings, Inc. (NYSE: HTZ)

--  Company forecasts positive Q2/FY 2009 Corporate EBITDA, adjusted pre-
    tax income and adjusted diluted earnings per share

--  Demand stabilizes in U.S. and Europe car rental with improving advance
    summer reservation outlook

--  Equipment rental business expected to exceed $100 million Corporate
    EBITDA and 40% margin in Q2; 40%  margin expected to be maintained
    throughout 2009

--  Incremental, annualized 2009 cost savings estimate increased $70
    million, to $570 million
    

Hertz Global Holdings, Inc. (NYSE: HTZ) (with its subsidiaries, the "Company" or "we") today announced guidance for second quarter and full-year 2009 revenues, Corporate EBITDA(1), adjusted pre-tax income(2) and adjusted diluted earnings per share(3)(4).

For the second quarter 2009, the Company forecasts worldwide revenues in the range of $1.70 to $1.75 billion, Corporate EBITDA in the range of $260 million to $270 million, adjusted pre-tax income in the range of $65 to $70 million and adjusted diluted earnings per share in the range of $0.09 to $0.10. For the full-year 2009, the Company forecasts worldwide revenues in the range of $6.7 to $7.0 billion, Corporate EBITDA in the range of $900 million to $935 million, adjusted pre-tax income in the range of $100 to $120 million and adjusted diluted earnings per share in the range of $0.12 to $0.15.

Mark P. Frissora, the Company's Chairman and Chief Executive Officer, said, "We are able to resume earnings guidance for the current quarter and full year for several reasons. Our car rental demand in the U.S. and Europe has stabilized and we are experiencing better-than-anticipated summer peak reservation build in both markets. We are adding fleet as a result. Additionally, we anticipate no significant long-term financial impact from the GM and Chrysler bankruptcies, and we are increasing our estimate of incremental, annualized cost savings in 2009 by $70 million, to $570 million. These positive developments are offset partially by further, modest weakening in equipment rental demand and pricing, although we believe HERC will continue to generate strong Corporate EBITDA throughout the year."

The Company cited the following data as leading indicators of improving performance, compared with the fourth quarter of 2008 and the first quarter of 2009:

--  We forecast U.S. car rental transaction days will improve year-over-
    year to (11.4%) in the second quarter, compared with (13.4%) in the first
    quarter.   The Company forecasts a single-digit transaction day decrease in
    Q3.  Similar trends are expected in Europe.

--  Our car rental reservation build in the U.S. has improved for 9
    consecutive weeks and for 7 consecutive weeks in our European car rental
    market.   At this time, our reservation build in Europe is positive, year-
    over-year, for July and August.

--  Our average car rental fleets for Q2 are forecasted to be 14.6% lower
    year-over-year in the U.S. and 17.3% lower in Europe.   We believe that our
    car rental fleet levels are aligned with demand due to fleet efficiency
    improvements.

--  Our U.S. fleet utilization is forecasted to improve, year-over-year,
    320 bps to 73% in Q2 and European fleet utilization is forecasted to
    improve 330 bps to 72%.   The Company forecasts additional, significant
    utilization improvements in Q3 and for full year 2009, compared with the
    same periods last year.

--  Our worldwide equipment rental business is expected to generate Q2
    Corporate EBITDA exceeding $100 million.   The Company continues to expect
    the Corporate EBITDA margin of the equipment rental business will exceed
    40% for Q2 and full year 2009.
    

The Company will update annual guidance on a quarterly basis consistent with past practice. Additional details regarding Hertz's revenue, Corporate EBITDA, adjusted pre-tax income and adjusted diluted earnings per share guidance will be provided during the Company's investor presentation webcast scheduled for 1:30 PM (EDT) this afternoon, June 25, 2009, which can be accessed from the Investor Relations section of our website, www.hertz.com/investorrelations , and on the Company's second quarter 2009 earnings conference call currently scheduled for July 29, 2009.

ABOUT HERTZ

The Hertz Corporation ("Hertz"), a subsidiary of the Company, operates the world's largest general use car rental brand, from approximately 8,000 locations in 145 countries worldwide. Hertz is the number one airport car rental brand in the U.S. and at 42 major airports in Europe, operating both corporate and licensee locations in cities and airports in North America, Europe, Latin America, Australia and New Zealand. In addition, Hertz has licensee locations in cities and airports in Africa, Asia, and the Middle East. Product and service initiatives such as Hertz #1 Club Gold®, NeverLost® customized, onboard navigation systems, SIRIUS Satellite Radio®, and unique cars and SUVs offered through Hertz's Prestige, Fun and Green Collections, set Hertz apart from the competition. In 2008, Hertz 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 330 branches in the United States, Canada, China, France and Spain.