SOURCE: Hertz Corporation

June 10, 2008 10:00 ET

Hertz Slashes Refueling Prices: Pay Pump Prices or Less; No Need to Worry About Refilling the Tank

Renters Have 3 Customer-Friendly Choices Under New Program, Timed to Coincide With Busy Summer Travel Season

PARK RIDGE, NJ--(Marketwire - June 10, 2008) - Hertz (NYSE: HTZ), the number one airport car rental brand in the U.S., today announced the launch of an innovative Refueling Program that provides travelers with valuable time and dollar savings while on the road and eliminates a key "hassle factor" associated with car rentals.

Under the new program -- which goes into effect for rentals commencing July 1, 2008 at all corporate and participating licensee airport and off-airport locations in the United States, Canada, Puerto Rico and St. Thomas -- both the Hertz Fuel & Service Charge (FSC) and the Fuel Purchase Option (FPO) will reflect new, lower pricing bases upon the average price per gallon as set by the Oil Price Information Service (OPIS) in the geographical area where the car is rented. The Hertz FSC -- for customers who don't refill the fuel tank before returning the rental vehicle and elect the option of then having Hertz refuel the vehicle -- will be based upon local market fuel prices, plus a one-time Refueling Fee of $6.99. The FPO -- for customers who elect the option to purchase a tank of gas at the outset of the rental -- will reflect local market fuel prices minus a small discount of approximately $0.15 per gallon.

"Our research indicates that rental car clients want a speedier, more efficient return process that eliminates time-consuming and costly refueling procedures," said Mark P. Frissora, Chairman and Chief Executive Officer for The Hertz Corporation. "By revamping our refueling program to reflect market-rate prices, we've made it immeasurably easier for customers to return their rental car quickly and without the hassle of making a time-consuming trip to refuel the car prior to return."

By bringing its refueling rates in line with local pricing, Hertz is removing the "hassle factor" from the rental car return process, eliminating time-consuming cost calculations and stops to refill prior to return. The new policy ensures Hertz customers won't pay more than local refueling rates, streamlining the return process.

Hertz's FSC and FPO rates are based on geographical averages as determined by OPIS and will be adjusted weekly by local management to reflect local OPIS pricing.

Customers retain the option of refueling themselves and returning the rental vehicle with at least as much fuel as was in the vehicle when it was rented. However, many customers do not have the time or are not able to locate a service station before they return to the rental location.

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 (www.hertzequip.com), 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, France and Spain.

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