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News Releases

Media Contact

News Releases

The Hertz Corporation Receives Acquisition Proposal From Ford Motor Company

PRNewswire
PARK RIDGE, N.J.
Sep 21, 2000

The Hertz Corporation announced today that it has received a preliminary, non-binding proposal from Ford Motor Company to acquire, through a merger, all of the outstanding shares of Hertz Class A common stock that are not currently owned by Ford at a cash price of $30 per share. Ford currently owns approximately 81.5% of Hertz' Class A common stock. The proposal is subject to approval of the Hertz Board of Directors, the Board's favorable recommendation to Hertz shareholders and the negotiation, execution and performance of a definitive merger agreement. Hertz' Board of Directors will meet soon to begin evaluating Ford's proposal.

Hertz is the world's largest car rental company and a leading industrial and construction equipment rental business. Headquartered in Park Ridge, NJ, Hertz operates from approximately 6,500 locations in the U.S. and in over 140 foreign countries.

SOURCE: Hertz Corporation

Contact: Richard Broome, Media Relations, 201-307-2486, or Lauren
S. Babus, Investor Relations, 201-307-2337, both of Hertz Corporation

Company News On-Call: http://www.prnewswire.com/comp/406850.html or fax,
800-758-5804, ext. 406850