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Hertz Global Holdings, Inc. Announces Initial Public Offering

Nov 15, 2006

PARK RIDGE, NJ, November 15, 2006 -- Hertz Global Holdings, Inc., the indirect parent corporation of The Hertz Corporation, today announced the initial public offering of 88,235,000 shares of its common stock, at a price per share of $15.00. The shares will be listed on the New York Stock Exchange and will trade under the symbol "HTZ" beginning November 16, 2006. The 88,235,000 shares will be sold by Hertz Global Holdings. In addition, private equity funds associated with Clayton, Dubilier & Rice, Inc., The Carlyle Group and Merrill Lynch Global Private Equity, which are current stockholders of Hertz Global Holdings, have granted the underwriters a 30-day option to purchase up to an additional 13,235,250 shares.

Hertz Global Holdings intends to use the net proceeds to it from the offering to repay borrowings outstanding under its $1.0 billion loan facility entered into on June 30, 2006, with the remainder of the net proceeds to be used to pay a special cash dividend that will be declared prior to the completion of the initial public offering and will be payable promptly following completion of the initial public offering to holders of record of its common stock immediately prior to the initial public offering. The record date for this dividend will precede the consummation of the offering, and investors in the offering will not be entitled to receive any payments or distributions in connection with this dividend.

The Hertz Corporation operates what it believes is the largest general use car rental brand in the world and one of the largest industrial, construction and material handling equipment rental business in the United States, both based on revenues.

Goldman, Sachs & Co., Lehman Brothers and Merrill Lynch & Co. are the joint global coordinators and bookrunners for the offering. JPMorgan is a bookrunner. A registration statement relating to this offering was filed and declared effective by the Securities and Exchange Commission. The offering of common stock will be made only by means of the written prospectus forming part of the effective registration statement. A copy of the final prospectus relating to this offering, when available, may be obtained from:

Goldman, Sachs & Co.
Attn: Prospectus Department
85 Broad St
New York, NY 10004
fax: 212-902-9316

Lehman Brothers
c/o ADP FInancial Services
Integrated Distribution Services
1155 Long Island Avenue
Edgewood, NY 11717
fax: (631) 254-7268

Merrill Lynch & Co.
4 World Financial Center
New York, NY 10080
tel: (212) 449-1000

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.