--  Company increases adjusted diluted earnings per share guidance more
    than 40% to $0.21-$0.23 for the full year 2009 (1).
--  Worldwide car rental adjusted pre-tax income(2) for the third quarter
    increased 54.6% year-over-year on 11.5% lower revenues (an 8.9% decrease in
    constant currency), with a margin of 14.7%, 630 bps better than last year.
    The Company's U.S. car rental adjusted pre-tax income margin is even
    higher.  Total Company GAAP pre-tax income for the quarter increased
    189.3%, and a margin of 3.7%, a 260 bps improvement over last year.
    

Hertz Global Holdings, Inc. (NYSE: HTZ) (with its subsidiaries, the "Company" or "we") announced improved guidance on all financial metrics for full year 2009, due to stronger than forecast financial results in the third quarter and current projections for the fourth quarter of 2009.

The Company has increased its full year 2009 worldwide forecast for annualized cost savings, revenues, Corporate EBITDA, adjusted pre-tax income and adjusted diluted earnings per share as follows:

                                Revised Guidance        Prior Guidance
                                -----------------      -----------------
Annualized 2009 Cost Savings              $620.0M                $570.0M
Revenues                             $7.0 - $7.1B           $6.7 - $7.0B
Corporate EBITDA(1)                  $950 - $960M           $900 - $935M
Adjusted Pre-Tax Income(1)           $155 - $165M           $100 - $120M
Adjusted Diluted Earnings
 per Share(1)(3)                    $0.21 - $0.23          $0.12 - $0.15

The Company expects to announce full year 2010 guidance when it publishes fourth quarter 2009 earnings.

The Company said its improved guidance is based on its favorable third quarter performance in its worldwide car rental business, as well as the improving macro outlook for the current (fourth) quarter of 2009.

Worldwide car rental adjusted pre-tax income for the third quarter increased 54.6% year-over year, and generated an adjusted pre-tax margin of 14.7%, a 630 bps improvement year-over-year, on 11.5% lower revenue (an 8.9% decrease in constant currency). The results were driven, in part by transaction days in the U.S. which decreased only 4.0% compared with the same period last year.

Worldwide equipment rental generated a 9.0% adjusted pre-tax margin, and a 41.9% Corporate EBITDA(2) margin, on approximately 35% lower revenues (about 34% in constant currency).

The Company will provide additional details about its third quarter performance in its earnings release scheduled to be issued on October 29, 2009 and on its earnings conference call scheduled for the morning of October 30, 2009. See details below.

(1) Management believes that Corporate EBITDA, adjusted pre-tax income and adjusted diluted earnings per share are useful in measuring the comparable results of the Company period-over-period. The GAAP measures most directly comparable to Corporate EBITDA, adjusted pre-tax income and adjusted diluted earnings per share are cash flows from operating activities, pre-tax income and diluted earnings per share. Because of the forward-looking nature of the Company's forecasted Corporate EBITDA, adjusted pre-tax income and adjusted diluted earnings per share, specific quantifications of the amounts that would be required to reconcile forecasted cash flows from operating activities, pre-tax income and diluted earnings per share to forecasted Corporate EBITDA, adjusted pre-tax income and adjusted diluted earnings per share are not available. The Company believes that there is a degree of volatility with respect to certain of the Company's GAAP measures, primarily related to fair value accounting for its financial assets (which includes the Company's derivative financial instruments), its income tax reporting and certain adjustments made in order to arrive at the relevant non-GAAP measures, which preclude the Company from providing accurate forecasted GAAP to non-GAAP reconciliations. Based on the above, the Company believes that providing estimates of the amounts that would be required to reconcile the range of the non-GAAP Corporate EBITDA, adjusted pre-tax income and adjusted diluted earnings per share to forecasted cash flows from operating activities, pre-tax income and diluted earnings per share would imply a degree of precision that could be confusing or misleading to investors for the reasons identified above.

(2) Adjusted pre-tax income and Corporate EBITDA are non-GAAP measures. See accompanying tables for reconciliations and definitions for each of these non-GAAP measures and the reasons the Company's management believes that these provide useful information to investors regarding the Company's financial condition and results of operations.

(3) Based upon 407.7 million shares which represents the number of diluted shares outstanding for the year ended December 31, 2008 plus 85 million shares offered in the common stock offerings.

CONFERENCE CALL INFORMATION

The Company's third quarter 2009 earnings conference call will be held on Friday, October 30, 2009, at 10:00 a.m. (EDT). To access the conference call live, dial 888-428-4479 in the U.S. and 612-332-0107 for international callers using the passcode: 118502 or listen via webcast at www.hertz.com/investorrelations. The conference call will be available for replay for two weeks starting at 12:30 p.m. on October 30, 2009 by calling 800-475-6701 in the U.S. or 320-365-3844 for international callers with the passcode: 118502. The press release and related tables containing the reconciliations of non-GAAP measures will be available on our website, www.hertz.com/investorrelations.

ABOUT THE COMPANY

Hertz is the world's largest general use car rental brand, operating from approximately 8,100 locations in approximately 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, the Company has licensee locations in cities and airports in Africa, Asia, and the Middle East. Product and service initiatives such as Hertz #1 Club Gold(R), NeverLost(R) customized, onboard navigation systems, SIRIUS Satellite Radio, and unique cars and SUVs offered through the company's Prestige, Fun and Green Collections, set Hertz apart from the competition. In 2008, the Company 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.

CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. You should not place undue reliance on these statements. Forward-looking statements include information concerning the Company's outlook, anticipated revenues, results of operations and implementation of productivity and efficiency initiatives, including targeted job reductions, and the anticipated savings and restructuring charges expected to be realized or incurred in connection therewith. These statements often include words such as "believe," "expect," "project," "anticipate," "intend," "plan," "estimate," "seek," "will," "may," "should," "forecast" or similar expressions. These statements are based on certain assumptions that the Company has made in light of its experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors that the Company believes are appropriate in these circumstances. As you read this press release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties and assumptions. Many factors could affect the Company's actual results and its ability to implement its cost savings and efficiency initiatives successfully, and could cause the Company's actual results to differ materially from those expressed in the forward-looking statements. Some important factors include: the Company's operations; economic performance; financial condition; management forecasts; efficiencies, cost savings and opportunities to increase productivity and profitability; income and margins; liquidity and availability of additional or continued fleet financing including as a result of the financial instability of the entities providing credit support for certain of our notes; the financial instability of the manufacturers of our vehicles; anticipated growth; economies of scale; the economy; future economic performance; the Company's ability to maintain profitability during adverse economic cycles, potential tangible and intangible asset impairment charges and unfavorable external events (including war, terrorist acts, natural disasters and epidemic disease); future acquisitions and dispositions; litigation; potential and contingent liabilities; management's plans; taxes; and refinancing of existing debt. In light of these risks, uncertainties and assumptions, the forward-looking statements contained in this press release might not prove to be accurate and you should not place undue reliance upon them. All forward-looking statements attributable to the Company or persons acting on the Company's behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

The Company cautions you therefore that you should not rely unduly on these forward-looking statements.