SOURCE: The Hertz Corporation

October 16, 2008 17:31 ET

Hertz Announces Retirement of Chief Investor Relations Officer

Lauren Babus's Retirement to Take Effect at the End of October 2008; Richard Broome Appointed Interim Investor Relations Officer While an External Search Is Conducted

PARK RIDGE, NJ--(Marketwire - October 16, 2008) - Hertz Global Holdings, Inc. (NYSE: HTZ) today announced that Lauren S. Babus, Staff Vice President, Investor Relations, has informed the Company that she will retire at the end of October, 2008. Richard D. Broome, Senior Vice President, Corporate Affairs and Communications, will serve as the company's investor relations officer while an external search is conducted for Ms. Babus's successor.

Ms. Babus joined Hertz in 1983, and has served as the company's chief investor relations officer since the Company's IPO in November 2006. She also served in that capacity when Hertz was publicly traded from 1997 through March 2001. Additionally, Ms. Babus held senior positions in the Company's Treasury operations during her 25-year Hertz career.

"Lauren has made significant contributions to our success during her 25-year career at Hertz, and she has taken the lead expanding our visibility and credibility with investors and research analysts during her most recent tenure as chief investor relations officer," said Mark P. Frissora, Hertz's Chairman and Chief Executive Officer. "Over the past 2 years, Lauren has been a reliable source of timely and accurate financial and operational information for the investment community, based on her vast experience in our cash management operations, as well as her deep knowledge of the global car and equipment rental businesses. Lauren has been an important member of our senior management team and I wish her a long, healthy and happy retirement," he added.

The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc. (NYSE: HTZ), is the world's largest general use car rental brand, operating from approximately 8,100 locations in 147 countries worldwide. Hertz is the number one airport car rental brand in the U.S. and at 69 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®, Hertz NeverLost® 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. 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 through more than 360 branches in the United States, Canada, China, France and Spain.

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