--  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.