Hertz Completes Acquisition Of Dollar Thrifty

                Hertz Completes Acquisition Of Dollar Thrifty

PR Newswire

PARK RIDGE, N.J., Nov. 20, 2012

PARK RIDGE, N.J., Nov.20, 2012 /PRNewswire/ --Hertz Global Holdings, Inc.
(NYSE: HTZ) announced today that it has successfully completed its previously
announced acquisition of Dollar Thrifty Automotive Group, Inc. (NYSE: DTG).
As a result of the transaction, Dollar Thrifty has become a wholly owned
subsidiary of Hertz.

Hertz Chairman and Chief Executive Officer, Mark P. Frissora said: "In the
94-year history of Hertz, our employees and business partners have never been
this excited. Over the past six years, we have competed successfully with
only one global premium brand in place while our competitors have had multiple
brands to work against us. Starting today, we now have two additional,
popular brands to compete across multiple market segments, with plans to offer
them to our many partners and customers. That's why we are pleased to
announce that the transaction is complete, and we look forward to working
expeditiously with Dollar Thrifty to integrate the strengths of our two great
companies."

Hertz completed a tender offer in which it purchased approximately 99.6% of
the shares of Dollar Thrifty common stock then outstanding at $87.50 per share
in cash.

Hertz subsequently acquired the remaining shares of Dollar Thrifty common
stock by means of a short-form merger in which such shares were converted into
the right to receive the same $87.50 per share in cash that will be paid in
the tender offer. In order to accomplish the short-form merger, Hertz
exercised its "top-up" option to purchase additional shares of Dollar Thrifty
common stock directly from Dollar Thrifty. Dollar Thrifty's common stock will
no longer be listed on the New York Stock Exchange.

On November 20, 2012, Hertz posted to its website a summary of the divestiture
agreement that Hertz entered into with the Federal Trade Commission in
connection with the acquisition of Dollar Thrifty, a list of related
frequently asked questions and PowerPoint slides.

Hertz Contact information:

Investors
Leslie Hunziker
Staff Vice President - Investor Relations
Tel: 201-307-2337
E-mail: lhunziker@hertz.com

Media
Richard Broome
Senior Vice President - Corporate Affairs & Communications
Tel: 201-307-2486
E-mail: rbroome@hertz.com

Steven Lipin / Jayne Rosefield
Brunswick Group
Tel: 212-333-3810

About Hertz Global Holdings, Inc.

Hertz is the largest worldwide airport general use car rental brand, operating
from approximately 8,800 corporate and licensee locations in approximately 150
countries in North America, Europe, Latin America, Asia, Australia, Africa,
the Middle East and New Zealand. Hertz is the number one airport car rental
brand in the U.S. and at 111 major airports in Europe. In addition, the
Company has sales and marketing centers in 60 countries which promote Hertz
business both within and outside such country. Product and service initiatives
such as Hertz Gold Choice, Hertz #1 Club Gold®, NeverLost® customized, onboard
navigation systems, Sirius XM Satellite Radio, and unique cars and SUVs
offered through the Company's Adrenaline, Prestige and Green Traveler
Collections, set Hertz apart from the competition. In 2008, the Company
entered the global car sharing market with its service now referred to as
Hertz On Demand which rents cars by the hour and/or by the day, at various
locations in the U.S., Canada and Europe. Hertz also operates one of the
world's largest equipment rental businesses, Hertz Equipment Rental
Corporation, offering a diverse line of rental equipment, from small tools and
supplies to earthmoving equipment, as well as new and used equipment for sale,
to customers ranging from major industrial companies to local contractors and
consumers, from approximately 340 branches in the United States, Canada,
China, France, Spain and Saudi Arabia, as well as through its international
licensees. Hertz also owns Donlen Corporation, based in Northbrook, Illinois,
which is a leader in providing fleet leasing and management services.

About Dollar Thrifty Automotive Group, Inc.

Through its Dollar Rent A Car and Thrifty Car Rental brands, the Company has
been serving value-conscious leisure and business travelers since 1950. The
Company maintains a strong presence in domestic leisure travel in virtually
all of the top U.S. and Canadian airport markets, and also derives a
significant portion of its revenue from international travelers to the U.S.
under contracts with various international tour operators. Dollar and Thrifty
have approximately 280 corporate locations in the United States and Canada,
with approximately 5,800 employees located mainly in North America. In
addition to its corporate operations, the Company maintains global service
capabilities through an expansive franchise network of approximately 1,300
franchise locations in 82 countries. For additional information, visit
www.dtag.com or the brand sites at www.dollar.comand www.thrifty.com.

Cautionary Note Concerning Forward-Looking Statements

This communication contains "forward-looking statements". Examples of
forward-looking statements include information concerning Hertz's outlook,
anticipated revenues and results of operations, as well as any other statement
that does not directly relate to any historical or current fact. These
forward-looking statements often include words such as "believe," "expect,"
"project," "anticipate," "intend," "plan," "estimate," "seek," "will," "may,"
"would," "should," "could," "forecasts" or similar expressions. These
statements are based on certain assumptions that Hertz 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 Hertz believes are appropriate in these circumstances. We believe these
judgments are reasonable, but you should understand that these statements are
not guarantees of performance or results, and our actual results could differ
materially from those expressed in the forward-looking statements due to a
variety of important factors, both positive and negative.

Among other items, such factors could include: the risk that expected
synergies, operational efficiencies and cost savings from a Dollar Thrifty
acquisition may not be fully realized or realized within the expected time
frame; the risk that unexpected costs will be incurred in connection with the
proposed Dollar Thrifty transaction; the retention of certain key employees of
Dollar Thrifty may be difficult; the operational and profitability impact of
divestitures required to be undertaken to secure regulatory approval for an
acquisition of Dollar Thrifty; levels of travel demand, particularly with
respect to airline passenger traffic in the United States and in global
markets; significant changes in the competitive environment, including as a
result of industry consolidation, and the effect of competition in our
markets, including on our pricing policies or use of incentives; occurrences
that disrupt rental activity during our peak periods; our ability to achieve
cost savings and efficiencies and realize opportunities to increase
productivity and profitability; an increase in our fleet costs as a result of
an increase in the cost of new vehicles and/or a decrease in the price at
which we dispose of used vehicles either in the used vehicle market or under
repurchase or guaranteed depreciation programs; our ability to accurately
estimate future levels of rental activity and adjust the size of our fleet
accordingly; our ability to maintain sufficient liquidity and the availability
to us of additional or continued sources of financing for our revenue earning
equipment and to refinance our existing indebtedness; safety recalls by the
manufacturers of our vehicles and equipment; a major disruption in our
communication or centralized information networks; financial instability of
the manufacturers of our vehicles and equipment; any impact on us from the
actions of our licensees, franchisees, dealers and independent contractors;
our ability to maintain profitability during adverse economic cycles and
unfavorable external events (including war, terrorist acts, natural disasters
and epidemic disease); shortages of fuel and increases or volatility in fuel
costs; our ability to successfully integrate acquisitions and complete
dispositions; our ability to maintain favorable brand recognition; costs and
risks associated with litigation; risks related to our indebtedness, including
our substantial amount of debt and our ability to incur substantially more
debt and increases in interest rates or in our borrowing margins; our ability
to meet the financial and other covenants contained in our senior credit
facilities, our outstanding unsecured senior notes and certain asset-backed
and asset-based funding arrangements; changes in accounting principles, or
their application or interpretation, and our ability to make accurate
estimates and the assumptions underlying the estimates, which could have an
effect on earnings; changes in the existing, or the adoption of new laws,
regulations, policies or other activities of governments, agencies and similar
organizations where such actions may affect our operations, the cost thereof
or applicable tax rates; changes to our senior management team; the effect of
tangible and intangible asset impairment charges; the impact of our derivative
instruments, which can be affected by fluctuations in interest rates and
commodity prices; and our exposure to fluctuations in foreign exchange rates.
Additional information concerning these and other factors can be found in our
filings and Dollar Thrifty's filings with the Securities and Exchange
Commission, including our and Dollar Thrifty's most recent Annual Reports on
Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

Hertz therefore cautions you against relying on these forward-looking
statements. All forward-looking statements attributable to Hertz or persons
acting on its behalf are expressly qualified in their entirety by the
foregoing cautionary statements. All such statements speak only as of the date
made, and Hertz undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information, future
events or otherwise.

SOURCE Hertz Global Holdings, Inc.