PRESS RELEASE

Aug. 24, 2011 - The Hertz Corporation today announced the expansion of its Global EV initiative to China. Hertz now offers EVs across the U.S. in cities including New York, Washington, DC, San Francisco and Los Angeles and in London, United Kingdom, and other cities in Europe.  To help build a market for what is also the first EV rental service in China, today Hertz signed:

• A partnership with GE Industrial Solutions China to advance the rollout of EVs and charging stations which includes the co-location of electric vehicles and GE EV Infrastructure as a combined offering.

• An agreement to participate in the China (Shanghai) International EV Pilot City to propel an EV rental program, building out the infrastructure across the Jiading district of Shanghai as a starting point to make EVs accessible to corporations, local government and the general public, as well as promote and raise awareness of the benefits of EVs.

"China has committed to rapidly expand electric vehicle travel and Hertz is committed to supporting the ambitious EV Pilot City program," said Mark P. Frissora, Hertz chairman and CEO. "Working with our existing rental car network in China and partners such as GE, we are dedicated to helping build the necessary EV infrastructure in China and to create a new transportation solution that employs the latest technology and harnesses innovations being launched in China today."

The partnerships are part of a multi-layered approach to launch an EV rental program in Shanghai. Key features of the agreements signed today include commitments from:

• Hertz and GE Industrial Solutions to co-locate electric vehicles and GE EV Infrastructure across China. The two companies will bundle EV leasing and charging facilities as a solution, which will be offered to multinational companies and government agencies to promote new energy application. Both Hertz and GE Industrial Solutions will leverage each other's services, products and client bases to go to market together as business partners.

• GE Energy Industrial Solutions will provide end-to-end integrated EV infrastructure solutions and electrical distribution products to support this ecosystem development.

• All three parties will collaborate to accelerate the pace of EV adoption in China.  

"GE, as a worldwide leading company is glad to respond to the Chinese government's call for support of the EV industry.  It's our great pleasure to be invited to this partnership with Hertz and China international EV Zone," stated Johnny Wang, General Manager, Greater China, GE Energy Industrial Solutions, "Signing this MOU among us will bring to our integrated EV solutions based on our strengths and advantages in separate areas. Electric vehicles will be increasingly prioritized in national energy strategies around the world."

Earlier this year, Shanghai was selected as the electric vehicle international pilot city by the Chinese government and Jiading district of Shanghai as the electric vehicle international demonstration zone, with a goal of increasing public awareness and integration within the industry. Current partners include auto manufactures, energy suppliers, insurance companies and the other EV supply chain participants. Hertz is the first rental car company to sign an agreement to become a partner of the China (Shanghai) International Electric Vehicle Pilot City.

Hertz plans to increase its global EV presence by deploying vehicles in other countries in the coming months. Hertz Global EV will continue to leverage the company's rental and car sharing locations as bases for vehicles and charging stations, and tap into its technology - including sophisticated fleet management tools and consumer-facing GPS systems, including Hertz NeverLost in the U.S. - to help form an EV grid.