Conversion Right Triggered on Hertz's Convertible Senior Notes

        Conversion Right Triggered on Hertz's Convertible Senior Notes

PR Newswire

PARK RIDGE, N.J., Jan. 2, 2013

PARK RIDGE, N.J., Jan. 2, 2013 /PRNewswire/ --Hertz Global Holdings, Inc.
(the "Company") (NYSE: HTZ) today announced that the Company's $474,733,000
aggregate principal amount outstanding of 5.25% Convertible Senior Notes Due
2014 (the "Notes") will continue to be convertible by holders of the Notes.
This conversion right has been triggered because the Company's closing common
stock price per share exceeded $10.77 for at least 20 trading days during the
30 consecutive trading day period ending on December 31, 2012. Based on this
triggering event, the Notes will be convertible until March 31, 2013.

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If conversion requests are received, the settlement of the Notes will be paid
pursuant to the terms of the Indenture. The Company's policy has been, and
continues to be, to settle conversions of the Notes using a combination of
cash and shares of the Company's common stock, with the cash portion being
paid with a fixed dollar amount equal to $1,000 per $1,000 in principal amount
of the Notes (assuming the conversion value is at least equal to the principal
amount of the Notes).

Wells Fargo Bank, National Association, is the Trustee for the holders of the
Notes and Conversion Agent under the Indenture. All questions relating to the
mechanics of the conversion for the Notes should be directed to Martin Reed at
Wells Fargo Bank, National Association, telephone number 212.515.5244 and
address 45 Broadway, 14th Floor, New York, NY 10006.

This press release is only a summary of certain provisions of the Notes and
the Indenture, dated as of May 27, 2009 (the "Indenture"), by and between the
Company and Wells Fargo Bank, National Association. A complete explanation of
the conversion rights of holders of the Notes, as well as the procedures
required to convert Notes, is set forth in the Indenture. All holders are
urged to review the conversion provisions contained in the Notes and the
Indenture in their entirety.

SOURCE Hertz Global Holdings, Inc.

Website: http://www.hertz.com
Contact: Investor Relations: Leslie Hunziker, +1-201-307-2100,
investorrelations@hertz.com; Media: Richard Broome, +1-201-307-2486,
rbroome@hertz.com
 
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