Hertz Announces Corporate Headquarters Relocation

              Hertz Announces Corporate Headquarters Relocation

Worldwide headquarters move for increased efficiency follows Dollar Thrifty
acquisition

PR Newswire

PARK RIDGE, N.J., May 7, 2013

PARK RIDGE, N.J., May 7, 2013 /PRNewswire/ --The Hertz Corporation (NYSE:
HTZ) today announced that the company will relocate its worldwide headquarters
to Estero, Florida (Lee County, near Bonita Springs and Fort Myers) from Park
Ridge, New Jersey. Hertz made the decision following its recent acquisition of
the Dollar Thrifty Automotive Group, which was finalized on November 19, 2012.

(Photo: http://photos.prnewswire.com/prnh/20130507/NY08836 )

(Logo: http://photos.prnewswire.com/prnh/20110810/NY50373LOGO )

Dollar Thrifty is currently headquartered in Tulsa, Oklahoma. Consolidating
the corporate offices to one location will allow for increased efficiencies
and cost synergies across the company. Additionally, access to the Florida
travel and tourism population will position the company for long-term growth.
According to Visit Florida, there are approximately 1 million employees in the
state's travel and tourism industry, Florida's largest business segment. Hertz
also noted that Orlando is the world's largest car rental market, and that
Miami is a hub for accelerating travel growth between the United States and
Latin America.

Starting this year, up to 700 jobs will be relocated to Florida over a
two-year period. More than 2,000 Hertz and Dollar Thrifty personnel will
remain in New Jersey, including approximately 150 employees who currently work
in Park Ridge. All other Park Ridge employees will be able to retain their
current positions at the new headquarters, scheduled to be completed in early
2015. Hertz was founded in Chicago, Illinois in 1918, and moved its
headquarters to New Jersey from mid-town Manhattan in 1988.

"After our recent business expansion, we have been looking for the right
location to blend Hertz and Dollar Thrifty head office employees," Hertz
Chairman and Chief Executive Officer Mark P. Frissora said. "Florida is the
center of the U.S. travel and tourism industry - this move enables us to be
closer to leisure and business customers, as well as many travel and
association partners. As part of this move, we will open off-airport and
retail car sales stores on our headquarters campus, which will enable us to
experiment with new services and monitor customer satisfaction first hand. Lee
County, on the Southwestern Gulf Coast of Florida, is a well-established
travel destination with tremendous growth potential, with easy access to other
leading tourism markets including Orlando, Miami/Fort Lauderdale and Tampa/St.
Petersburg."

Hertz and Dollar Thrifty have more employees in Florida than in any other
state except California, and Florida rents more cars per capita than any other
state. Florida provides ready access to a vast and diverse talent pool,
including 3,000 of our own employees, as we grow our businesses. All of these
factors supported the company's final decision.

Frissora added, "This is the best, most balanced business decision based on
market factors as well as the needs of our employees and customers. The
relocation results in a positive financial return to the company and we will
provide more details during our next quarterly earnings call. Additionally, in
no way should this decision be perceived as a slight to our partners in New
Jersey and Oklahoma. We recognize the significant efforts undertaken in
recent years in both states to create and retain jobs, while improving the
overall business climate. In particular, over the last several years we have
seen significant improvement in New Jersey's business climate and our decision
should not be interpreted as a reflection of our views about doing business in
the Garden State. New Jersey has been our home since 1988 and would have been
for countless more if not for our acquisition of Dollar.

Because of these efforts, we will continue to grow our car and equipment
rental businesses in New Jersey and Oklahoma. We are retaining e-commerce and
certain financial functions in northern New Jersey thanks to the state's
strength in the financial services industry. Oklahoma will continue to be our
primary home for IT, customer service and financial support driving our North
American businesses. Overall, we concluded that it is in the best interests
of our company, which is primarily in the travel and tourism business, to be
near our largest market."

"We also want to note that the New Jersey Partnership for Action was very
active and effective in their efforts to entice us to remain in New Jersey,
and we are grateful for their efforts."

Hertz chose Lee County, Florida, primarily because of its diverse community
appeal, work force availability, and accessibility. The company worked closely
with Florida Governor Rick Scott as well as other state and county government
and business leaders throughout the decision-making process.

About The Hertz Corporation

Hertz operates its car rental business through the Hertz, Dollar and Thrifty
brands from approximately 10,400 corporate, licensee and franchisee locations
in North America, Europe, Latin America, Asia, Australia, Africa, the Middle
East and New Zealand. Hertz is the largest worldwide airport general use car
rental brand, operating from approximately 8,800 corporate and licensee
locations in approximately 150 countries. Hertz is the number one airport car
rental brand in the U.S. and at 111 major airports in Europe. Dollar and
Thrifty have approximately 1,580 corporate and franchisee locations in
approximately 80 countries. Hertz is an inaugural member of Travel + Leisure's
World's Best Awards Hall of Fame and was recently named, for the thirteenth
time, by the magazine's readers as the Best Car Rental Agency. Hertz was also
voted the Best Overall Car Rental Company in Zagat's 2012/13 U.S. Car Rental
Survey, earning top honors in 14 additional categories, and the Company swept
the global awards for Best Rewards Program and Best Overall Benefits from
FlyerTalk.com. Product and service initiatives such as Hertz Gold Plus
Rewards, NeverLost®, and unique cars and SUVs offered through the Company's
Adrenaline, Prestige and Green Traveler Collections, also set Hertz apart from
the competition. Additionally, Hertz owns the vehicle leasing and fleet
management leader Donlen Corporation and operates the Hertz On Demand car
sharing business. The Company also owns a leading North American equipment
rental business, Hertz Equipment Rental Corporation, which includes Hertz
Entertainment Services.

SOURCE The Hertz Corporation

Website: http://www.hertz.com
Contact: Leslie Hunziker, Hertz Investor Relations, (201) 307-2337,
lhunziker@hertz.com, or Richard Broome, Hertz Media Relations, (201) 307-2486,
rbroome@hertz.com
 
Press spacebar to pause and continue. Press esc to stop.