Exhibit 99.1

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Fourth quarter 2009 adjusted net income(1)  was $22.5 million, versus a loss of $73.0 million in the same period of 2008, resulting in adjusted diluted earnings per share for the quarter of $0.06, compared with adjusted diluted loss per share of $0.22 for the fourth quarter of 2008. Fourth quarter 2009 net loss, on a GAAP basis, was $30.9 million or $0.08 per share on a diluted basis, compared with a net loss of $1,218.0 million, or $3.77 per share on a diluted basis, for the fourth quarter of 2008.

Mark P. Frissora, the Company’s Chairman and Chief Executive Officer said, “Our strong performance in the fourth quarter of 2009 was based on continued improvement in the U.S. car rental business, our largest market, and sustained progress throughout the year to develop new revenue sources and further reduce overall costs.   For the full year 2009, we cut costs by $760 million, and by over $1.2 billion from 2007 through 2009.   We also generated over $170 million of incremental revenues last year from new products and services, which helped offset recession-related pressure on our core businesses.  In 2010, we expect to take more costs out of our business processes, further develop new revenue sources, and open over 150 new rental locations in the U.S and internationally.”

The Company took $34.5 million in restructuring and related charges in the fourth quarter of 2009, primarily attributable to costs associated with job reductions, the closure of rental locations and process reengineering.   The Company said it expects restructuring and related charges to diminish significantly throughout 2010.

INCOME MEASUREMENTS, FOURTH QUARTER 2009 & 2008

The Company ended the fourth quarter of 2009 with total debt of $10.4 billion and net corporate debt(1) of $3.6 billion, both similar to September 30, 2009. Net cash provided by operating activities was $516.3 million in the fourth quarter of 2009, compared to $614.3 million last year.

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WORLDWIDE CAR RENTAL

Worldwide car rental revenues were $1.5 billion for the fourth quarter of 2009, an increase of 3.4% (a 0.6% decrease in constant currency) from the prior year period. Transaction days for the quarter decreased 1.9% [0.7% U.S.; (7.1)% International]. U.S. off-airport revenues for the fourth quarter increased 6.2% year-over-year, and transaction days increased 8.0%. Rental rate revenue per transaction day(1) (“RPD”) for the quarter increased 1.4% from the prior year period [1.8% U.S.; 0.8% International].

Worldwide car rental adjusted pre-tax income for the fourth quarter of 2009 was $96.9 million, versus an adjusted pre-tax loss of $66.7 million in the prior year period.  The result was driven by higher RPD and strong cost management performance, including lower overall fleet costs and staffing/wage levels commensurate with rental volumes, as well as a value added tax reclaim. As a result, worldwide car rental achieved an adjusted pre-tax margin, based on revenues, of 6.6% for the quarter, versus a negative margin of 4.7% in the prior year period.

The worldwide average number of Company-operated cars for the fourth quarter of 2009 was 412,000, a decrease of 1.3% over the prior year period.

Additionally, the U.S. car rental business made year-over-year progress in the fourth quarter, due to further productivity and revenue generation improvements, year-over-year.  A couple key metrics include:

·                  Revenue per transaction, a good measure of pricing and transaction length mix, increased 1.6% year-over-year.

·                  Revenue per vehicle, a good measure of fleet productivity, increased 1.1% year-over-year.

WORLDWIDE EQUIPMENT RENTAL

Worldwide equipment rental revenues were $274.0 million for the fourth quarter of 2009, a 26.1% decrease (a 28.9% decrease in constant currency) from the prior year period.

Adjusted pre-tax income for the fourth quarter of 2009 was $25.8 million, a 43.9% decrease from the prior year period, primarily attributable to the effects of reduced volume and pricing, partially offset by cost management initiatives.  HERC achieved an adjusted pre-tax margin, based on revenues, of 9.4%, and a Corporate EBITDA margin, based on revenues, of 40.5% for the quarter.

The average acquisition cost of rental equipment operated during the fourth quarter of 2009 decreased by 10.0% year-over- year — compared with a 10.8% decrease in the fourth quarter of 2008 over the fourth quarter of 2007 — to $2.8 billion, and net revenue earning equipment as of December 31, 2009 was $1.8 billion, a 16.3% decrease from the amount as of December 31, 2008.

FULL YEAR RESULTS

Worldwide revenues for the full year 2009 were $7.1 billion, a decrease of 16.7% over the prior year (a 14.5% decrease in constant currency).  Worldwide car rental revenues for the year decreased 12.8% (a 10.5%

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decrease in constant currency) to $6.0 billion.  Revenues from worldwide equipment rental for the year were $1,110.9 million, down 33.0% (a 31.4% decrease in constant currency) over the prior year.

Adjusted pre-tax income for the year was $198.9 million, a 16.1% decrease from 2008 and pre-tax loss, on a GAAP basis, was $171.0 million, versus $1,382.8 million in 2008.  Corporate EBITDA for the year was $979.9 million, a 10.9% decrease from 2008.

Adjusted net income was $116.6 million, a 14.1% decrease from 2008, resulting in adjusted diluted earnings per share for the year of $0.29, compared $0.42 in the prior year.  Net loss, on a GAAP basis, was $126.0 million or $0.34 per share on a diluted basis, compared with a net loss of $1,206.7 million, or $3.74 per share on a diluted basis, for 2008.

INCOME MEASUREMENTS, FULL YEAR 2009 & 2008

The Company ended 2009 with total debt of $10.4 billion and net corporate debt of $3.6 billion, compared with total debt of $11.0 billion and net corporate debt of $3.8 billion as of December 31, 2008, a reduction in net corporate debt of $183.4 million. Net cash provided by operating activities was $1,775.0 million for the year, compared to $2,544.2 million in 2008.

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OUTLOOK

The Company will outline its full year 2010 guidance for revenues, Corporate EBITDA, adjusted pre-tax income and adjusted diluted earnings per share during the earnings conference call on Wednesday, February 24, 2010.

RESULTS OF THE HERTZ CORPORATION

The Company’s operating subsidiary, The Hertz Corporation (“Hertz”), posted the same revenues for the fourth quarter and full year 2009 as the Company.  Hertz’s fourth quarter and full year 2009 pre-tax loss was, however, $11.3 million and $26.8 million, respectively,  lower than that of the Company primarily because of additional interest expense recognized by the Company on its 5.25% Convertible Senior Notes issued in May and June 2009.

(1)  Adjusted pre-tax income, Corporate EBITDA, adjusted net income, adjusted diluted earnings per share, net corporate debt and rental rate revenue per transaction day are non-GAAP measures.  See the accompanying Tables and Exhibit for the reconciliations and definitions for each of these non-GAAP measures and the reason the Company’s management believes that these measures provide useful information to investors regarding the Company’s financial condition and results of operations.

CONFERENCE CALL INFORMATION

The Company’s fourth quarter 2009 earnings conference call will be held on Wednesday, February 24, 2010, at 10:00 a.m. (EDT). To access the conference call live, dial 877-531-2989 in the U.S. and 612-332-0637 for international callers using the passcode: 145795 or listen via webcast at www.hertz.com/investorrelations. The conference call will be available for replay for two weeks starting at 12:30 p.m. on February 24, 2009 by calling 800-475-6701 in the U.S. or 320-365-3844 for international callers with the passcode: 145795.   The press release and related tables containing the reconciliations of non-GAAP measures will be available on our website, www.hertz.com/investorrelations.

ABOUT THE COMPANY

Hertz is the largest worldwide airport general use car rental brand operating from approximately 8,100 locations in 146 countries worldwide. Hertz is the number one airport car rental brand in the U.S. and at 78 major airports in Europe, operating both corporate and licensee locations in cities and airports in North America, Europe, Latin America, Asia, Australia and New Zealand. In addition, the Company has licensee locations in cities and airports in Africa and the Middle East. Product and service initiatives such as Hertz #1 Club Gold®, NeverLost® customized, onboard navigation systems, SIRIUS XM Satellite Radio, and unique cars and SUVs offered through the Company’s Prestige, Fun and Green Collections, set Hertz apart from the competition. The Company also operates the global car sharing club, Connect by Hertz, in New York City, Berlin, London, Madrid and Paris. Additionally, Hertz operates one of the world’s largest equipment rental businesses, Hertz Equipment Rental Corporation, 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 from approximately 325 branches in the United States, Canada, China, France and Spain.

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CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release and in related comments by our management include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.  Examples of forward-looking statements include information concerning the Company’s outlook, anticipated revenues, results of operations and implementation of productivity and efficiency initiatives, including targeted job reductions, and the anticipated savings and restructuring charges expected to be realized or incurred in connection therewith, 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,” “forecast” or similar expressions.  These statements are based on certain assumptions that the Company 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 the Company 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 overall strength and stability of general economic conditions, both in the United States and in global markets; 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; our ability to achieve cost savings and efficiencies and realize opportunities to increase productivity and profitability; our ability to accurately estimate future levels of rental activity and adjust the size of our fleet accordingly; safety recalls by the manufacturers of our vehicles and equipment; a major disruption in our communication or centralized information networks; and 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 or the cost thereof.  Additional information concerning these and other factors can be found in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

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

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Tables and Exhibit:

Table 1:                Condensed Consolidated Statements of Operations for the Three Months and Years Ended December 31, 2009 and 2008

Table 2:                Condensed Consolidated Statements of Operations As Reported and As Adjusted for the Three Months and Years Ended December 31, 2009 and 2008

Table 3:                Segment and Other Information for the Three Months and Years Ended December 31, 2009 and 2008

Table 4:                Selected Operating and Financial Data as of or for the Three Months and Year Ended December 31, 2009 compared to December 31, 2008 and Selected Balance Sheet Data as of December 31, 2009 and December 31, 2008

Table 5:                Non-GAAP Reconciliations of Adjusted Pre-Tax Income (Loss) and Adjusted Net Income (Loss) for the Three Months and Years Ended December 31, 2009 and 2008

Table 6:                Non-GAAP Reconciliations of EBITDA, Corporate EBITDA, Unlevered Pre-Tax Cash Flow, Levered After-Tax Cash Flow Before Fleet Growth and Levered After-Tax Cash Flow After Fleet Growth for the Three Months and Years Ended December 31, 2009 and 2008

Table 7:                Non-GAAP Reconciliations of Operating Cash Flows to EBITDA for Three Months and Years Ended December 31, 2009 and 2008, Net Corporate Debt, Net Fleet Debt and Total Net Debt as of December 31, 2009, 2008 and 2007 and September 30, 2009 and 2008, Car Rental Rate Revenue per Transaction Day and Equipment Rental and Rental Related Revenue for the Three Months and Years Ended December 31, 2009 and 2008

Table 8:                Non-GAAP Reconciliation of Total Net Cash Flow for the Three Months and Years Ended December 31, 2009 and 2008

Exhibit 1: Non-GAAP Measures: Definitions and Use/Importance

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Table 1

HERTZ GLOBAL HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions, except per share amounts)

Unaudited

Table 2

HERTZ GLOBAL HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions)

Unaudited

Table 3

HERTZ GLOBAL HOLDINGS, INC.

SEGMENT AND OTHER  INFORMATION

(In millions, except per share amounts)

Unaudited

(a)                                  Represents a non-GAAP measure, see the accompanying reconciliations and definitions.

Note:                   “Other Reconciling Items” includes general corporate expenses, certain interest expense (including net interest on corporate debt), as well as other business activities such as our third-party claim management services.  See Tables 5 and 6.

Table 4

HERTZ GLOBAL HOLDINGS, INC.

SELECTED OPERATING AND FINANCIAL DATA

Unaudited