SOURCE: The Hertz Corporation

January 04, 2007 19:05 ET

The Hertz Corporation Announces Extension of Exchange Offers to January 8, 2007

PARK RIDGE, NJ -- (MARKET WIRE) -- January 4, 2007 --The Hertz Corporation, a Delaware corporation (the "Issuer") today announced that it has extended its offers to exchange (the "Exchange Offers") $1,800,000,000 in aggregate principal amount of its 8.875% Senior Notes due 2014 (the "new senior dollar notes"), $600,000,000 in aggregate principal amount of its 10.5% Senior Subordinated Notes due 2016 (the "new senior subordinated notes") and EUR 225,000,000 in aggregate principal amount of its 7.875% Senior Notes due 2014 (the "new senior euro notes"), which have been registered under the Securities Act of 1933, as amended (the new senior dollar notes, new senior subordinated notes and the new senior euro notes are referred to collectively as the "new notes"), for equal principal amounts of its outstanding 8.875% Senior Notes due 2014 (the "old senior dollar notes"), its outstanding 10.5% Senior Subordinated Notes due 2016 (the "old senior subordinated notes") and its outstanding 7.875% Senior Notes due 2014 (the "old senior euro notes"), which were issued on December 21, 2005 (the old senior dollar notes, old senior subordinated notes and the old senior euro notes are referred to collectively as the "old notes").

The Exchange Offers were originally scheduled to expire at 5:00 p.m., New York City time, on January 5, 2007, unless extended. As of the close of business on January 4, 2007, approximately $1,010.5 million in aggregate principal amount of the old senior dollar notes, $371.4 million in aggregate principal amount of the old senior subordinated notes and EUR 66.7 million in aggregate principal amount of the old senior euro notes have been confirmed as tendered in exchange for like principal amounts of the new senior dollar notes, the new senior subordinated notes and the new senior euro notes, respectively.

The new expiration date for the Exchange Offer is 5:00 p.m., New York City time, on Monday, January 8, 2007, unless further extended by the Issuer.

This press release does not constitute an offer to exchange The Hertz Corporation's new notes for its old notes or the solicitation of an offer to exchange. The Exchange Offers are only being made pursuant to a prospectus and, with respect to the old senior dollar notes and the old senior subordinated notes, letter of transmittal that have been filed with the Securities and Exchange Commission as part of The Hertz Corporation's Registration Statement on Form S-4. The Registration Statement was declared effective by the Securities and Exchange Commission on December 6, 2006.

Copies of the prospectus and other documents relating to the exchange offers may be obtained from the Exchange Agents by the following means:

By Telephone for old senior notes and old senior subordinated notes:

Wells Fargo Bank, National Association
(800) 344-5128;
or (612) 667-9764
Attn: Bondholder Communications

For old senior euro notes:

Deutsche Bank AG, London Branch
Winchester House
1 Great Winchester Street
London EC2N 2DB
United Kingdom
Attn: Trust & Securities Services
Tel: + 44 (0) 207 547 5000
Email: xchange.offer@db.com
Hertz, the world's largest general use car rental brand, operates from approximately 7,600 locations in 145 countries worldwide. Hertz is the number one airport car rental brand in the U.S. and at 69 major airports in Europe as well as the only car rental company with corporate and licensee locations in cities and airports in Africa, Asia, Australia, Latin America and North America. Product and service initiatives such as Hertz #1 Club Gold, NeverLost customized, onboard navigation system, SIRIUS Satellite Radio, and unique cars and SUVs offered through the company's Prestige, Fun and Green Collections, set Hertz apart from the competition.

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