Exhibit 99.1

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First quarter 2010 adjusted net loss(1)  was $49.3 million, versus a loss of $80.0 million in the same period of 2009, resulting in adjusted diluted loss per share for the quarter of $0.12, compared with a loss of $0.25 per share for the first  quarter of 2009. First quarter 2010 net loss, on a GAAP basis, was $150.4 million or $0.37 per share on a diluted basis, compared with a net loss of $163.5 million, or a loss of $0.51 per share on a diluted basis, for the first quarter of 2009.

Mark P. Frissora, the Company’s Chairman and Chief Executive Officer said, “We have improved year-over-year operating performance for the third consecutive quarter, due in part to strong cost management companywide and almost 10% revenue growth in U.S car rental, our largest business. Our cost savings projections are on track and we have strong advanced reservation growth for the U.S. and European car rental businesses, especially during the summer peak.  The equipment rental business continues to be challenged, although we are experiencing improving performance in Canada and Europe, and we believe the U.S. business has begun emerging from the trough of the recession. Due to our overall positive outlook, we are revising our full year revenue and earnings guidance, including increased adjusted earnings per share now forecasted in the range of $0.43 to $0.45, up from $0.37 to $0.39,” Frissora added.

The Company took $16.0 million in restructuring and related charges in the first quarter of 2010, primarily attributable to costs associated with job reductions, the closure of rental locations and process reengineering.   The Company expects the restructuring and related charges to diminish significantly throughout the remainder of 2010.

INCOME MEASUREMENTS, FIRST QUARTER 2010 & 2009

The Company ended the first quarter of 2010 with total debt of $10.39 billion and net corporate debt(1) of $3.78 billion, compared with total debt of $10.36 billion and net corporate debt of $3.63 billion as of

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December 31, 2009.  Net cash provided by operating activities was $301.2 million in the first quarter of 2010, compared to $184.5 million last year.

WORLDWIDE CAR RENTAL

Worldwide car rental revenues were $1.4 billion for the first quarter of 2010, an increase of 10.8% (a 7.0% increase excluding the effects of foreign currency) from the prior year period. Transaction days for the quarter increased 5.3% [8.3% U.S.; (1.2)% International]. U.S. off-airport total revenues for the first quarter increased 9.0% year-over-year, and transaction days increased 6.5%. Rental rate revenue per transaction day(1) (“RPD”) for the quarter increased 0.4% from the prior year period [0.3% U.S.; 1.0% International].

Worldwide car rental adjusted pre-tax income for the first quarter of 2010 was $27.1 million, versus an adjusted pre-tax loss of $33.5 million in the prior year period.  The result was driven by higher RPD, increased volume and strong cost management performance. As a result, worldwide car rental achieved an adjusted pre-tax margin, based on revenues, of 1.9% for the quarter, versus a negative margin of 2.6% in the prior year period.

The worldwide average number of Company-operated cars for the first quarter of 2010 was 417,700, an increase of 8.9% over the prior year period.

WORLDWIDE EQUIPMENT RENTAL

Worldwide equipment rental revenues were $237.0 million for the first quarter of 2010, a 15.2% decrease (a 19.1% decrease excluding the effects of foreign currency) from the prior year period.

Adjusted pre-tax loss for worldwide equipment rental for the first quarter of 2010 was $5.0 million, versus adjusted pre-tax income of $0.7 million in the prior year period, primarily attributable to the effects of reduced volume and pricing, partially offset by cost management initiatives.

The average acquisition cost of rental equipment operated during the first quarter of 2010 decreased by 6.2% year-over- year — compared with a 14.9% decrease in the first quarter of 2009 over the first quarter of 2008— to $2.78 billion, and net revenue earning equipment as of March 31, 2010 was $1.74 billion, a 4.9% decrease from the amount as of December 31, 2009.

OUTLOOK

The Company is increasing its full year 2010 revenue, Corporate EBITDA, adjusted pre-tax income and adjusted diluted earnings per share guidance, compared with the guidance provided on February 24, 2010. The Company now expects to generate worldwide revenues in the range of $7.5 billion to $7.7 billion, up from $7.4 billion to $7.6 billion, Corporate EBITDA in the range of $1.080 billion to $1.095 billion, up from $1.045 billion to $1.060 billion, adjusted pre-tax income in the range of $290 million to $305 million, up from $250 million to $265 million and adjusted diluted earnings per share in the range of $0.43 to $0.45, up from $0.37 to $0.39 (using the normalized tax rate of 34% and 410 million shares). Additionally, the Company continues to project annualized, incremental costs savings of $300 million in 2010.(2)

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RESULTS OF THE HERTZ CORPORATION

The Company’s operating subsidiary, The Hertz Corporation (“Hertz”), posted the same revenues for the first quarter as the Company.  Hertz’s first quarter 2010 pre-tax loss was, however, $11.5 million 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 (loss), Corporate EBITDA, adjusted net income (loss), adjusted diluted earnings (loss) 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.

(2)          Management believes that Corporate EBITDA, adjusted pre-tax income and adjusted diluted earnings per share are useful in measuring the comparable results of the Company period-over-period.  The GAAP measures most directly comparable to Corporate EBITDA, adjusted pre-tax income and adjusted diluted earnings per share are cash flows from operating activities, pre-tax income and diluted earnings per share.  Because of the forward-looking nature of the Company’s forecasted Corporate EBITDA, adjusted pre-tax income and adjusted diluted earnings per share, specific quantifications of the amounts that would be required to reconcile forecasted cash flows from operating activities, pre-tax income and diluted earnings per share are not available.  The Company believes that there is a degree of volatility with respect to certain of the Company’s GAAP measures, primarily related to fair value accounting for its financial assets (which includes the Company’s derivative financial instruments), its income tax reporting and certain adjustments made to arrive at the relevant non-GAAP measures, which preclude the Company from providing accurate forecasted GAAP to non-GAAP reconciliations.   Based on the above, the Company believes that providing estimates of the amounts that would be required to reconcile the range of the non-GAAP Corporate EBITDA, adjusted pre-tax income and adjusted diluted earnings per share to forecasted cash flows from operating activities, pre-tax income and diluted earnings per share would imply a degree of precision that would be confusing or misleading to investors for the reasons indentified above.

CONFERENCE CALL INFORMATION

The Company’s first quarter 2010 earnings conference call will be held on Monday, April 26, 2010, at 10:00 a.m. (EDT). To access the conference call live, dial 800-230-1766 in the U.S. and 612-332-0226 for international callers using the passcode: 153677 or listen via webcast at www.hertz.com/investorrelations. The conference call will be available for replay one hour following the conclusion of the call until May 10, 2010 by calling 800-475-6701 in the U.S. or 320-365-3844 for international callers with the passcode: 153677.   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 more than 8,200 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 Advantage car rental brand at 26 airports in the U.S., 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

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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.

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:

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

(a)  Represents the increase in amortization of other intangible assets, depreciation of property and equipment and accretion of certain revalued liabilities relating to purchase accounting.  For the three months ended March 31, 2010 and 2009, also includes restructuring and restructuring related charges of $11.4 million and $22.5 million, respectively. 

(b)  Represents the increase in depreciation of revenue earning equipment based upon its revaluation relating to purchase accounting.

(c)  Represents an increase in depreciation of property and equipment relating to purchase accounting. For the three months ended March 31, 2010 and 2009, also includes restructuring and restructuring related charges of $4.6 million and $15.9 million, respectively.  For all periods presented, also includes other adjustments which are detailed in Table 5.    

(d)  Represents non-cash debt charges relating to the amortization of deferred debt financing costs and debt discounts.  For the three months ended March 31, 2010 and 2009, also includes $20.9 million and $7.5 million, respectively, associated with the amortization of amounts pertaining to the de-designation of our interest rate swaps as effective hedging instruments. 

(e)  Represents a provision for income taxes derived utilizing a normalized income tax rate (34% for 2010 and 2009).

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

Selected Balance Sheet Data (in millions)

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

(b)      Based on 12/31/09 foreign exchange rates.

N/M Percentage change not meaningful.

Table 5

HERTZ GLOBAL HOLDINGS, INC.

RECONCILIATION OF GAAP TO NON-GAAP EARNINGS MEASURES

(In millions, except per share amounts)

Unaudited

ADJUSTED PRE-TAX INCOME (LOSS) AND ADJUSTED NET INCOME (LOSS)

(a)       Represents the purchase accounting effects of the acquisition of all of Hertz’s common stock on December 21, 2005 on our results of operations relating to increased depreciation and amortization of tangible and intangible assets and accretion of workers’ compensation and public liability and property damage liabilities. Also represents the purchase accounting effects of subsequent acquisitions on our results of operations relating to increased amortization of intangible assets.

(b)      Represents non-cash debt charges relating to the amortization of deferred debt financing costs and debt discounts.  For the three months ended March 31, 2010 and 2009, also includes $20.9 million and $7.5 million, respectively, associated with the amortization of amounts pertaining to the de-designation of our interest rate swaps as effective hedging instruments.

(c)       Amounts are included within direct operating and selling, general and administrative expense in our statement of operations.

(d)      Amounts are included within selling, general and administrative expense in our statement of operations.

Table 6

HERTZ GLOBAL HOLDINGS, INC.

RECONCILIATION OF GAAP TO NON-GAAP EARNINGS MEASURES

(In millions)

Unaudited

EBITDA, CORPORATE EBITDA, UNLEVERED PRE-TAX CASH FLOW, LEVERED AFTER-TAX CASH FLOW BEFORE FLEET GROWTH AND AFTER FLEET GROWTH