Exhibit 99.1

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Second quarter 2012 adjusted pre-tax income was a record $233.9 million, versus $184.4 million in the same period in 2011, and income before income taxes (“pre-tax income”), on a GAAP basis, was $158.7 million, versus $94.6 million in the second quarter of 2011.  Corporate EBITDA(1) for the second quarter of 2012 was a record $407.7 million, an increase of 12.6% from the same period in 2011.

Second quarter 2012 adjusted net income(1) was a record $154.4 million, versus $116.6 million in the same period of 2011, resulting in record adjusted diluted earnings per share for the quarter of $0.35, compared with $0.26 for the second quarter of 2011.  Second quarter 2012 net income attributable to Hertz Global Holdings, Inc. and subsidiaries’ common stockholders, or “net income,” on a GAAP basis, was $92.9 million or $0.21 per share on a diluted basis, compared with $55.0 million, or $0.12 per share on a diluted basis, for the second quarter of 2011.

Mark P. Frissora, the Company’s Chairman and Chief Executive Officer, said, “We delivered strong revenue and earnings growth again in the second quarter of 2012, and achieved several record results, despite moderate global GDP growth.   Our second quarter 2012 results are a testament to fostering a culture of continuous improvement as we delivered a 390 basis point improvement in direct operating expenses and $107 million in incremental efficiency savings for the quarter.”

INCOME MEASUREMENTS, SECOND QUARTER 2012 & 2011

Net cash provided by operating activities was $666.4 million in the second quarter of 2012, compared to $521.3 million in the same period last year, an increase of $145.1 million.  The increase was primarily due to an increase in net income before depreciation and amortization. Additionally, corporate cash flow(1) improved by $107.8 million, primarily due to increased advance rates on our fleet debt and earnings before depreciation and amortization, partially offset by an increase in our equipment rental fleet spend associated with our

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continued growth and the timing of fleet payables associated with additions to our U.S. car rental fleet.  The Company ended the second quarter of 2012 with total debt of $12.5 billion and net corporate debt (1) of $4.11 billion, compared with total debt of $11.7 billion and net corporate debt of $4.01 billion as of June 30, 2011. Despite overall net REE growth of $885 million, the total debt increase was limited primarily to the addition of $879 million in debt associated with Donlen’s fleet.  Net corporate debt increased $100 million, but excluding proceeds paid for acquisitions since June 30, 2011 it would have declined over $275 million.

WORLDWIDE CAR RENTAL

Worldwide car rental revenues were a record $1,889.6 million for the second quarter of 2012, an increase of 6.8% (a 9.9% increase excluding the effects of foreign currency) from the prior year period. The Company achieved record transaction days for the quarter which increased 7.0% over the second quarter of 2011 [10.1% U.S.; 0.1% International]. U.S. off-airport total revenues for the second quarter increased 12.5% year-over-year, and transaction days increased 17.4% from the prior year period. Worldwide rental rate revenue per transaction day(1) (“RPD”) for the quarter decreased 3.4% [(3.1)% U.S.; (3.2)% International] from the prior year period.  RPD continues to be impacted by the shift in our mix between airport and off-airport rentals.  When adjusted for mix, second quarter U.S. RPD decreased 1.9%.  Growth in off-airport rentals, and specifically growth in replacement rentals, which have longer rental lengths, has a negative impact on RPD.  However, it is important to note that off-airport’s profit contribution is growing significantly.  U.S. airport RPD benefitted from a 1.4% increase in airport leisure pricing, but this was more than offset by continued pressure on commercial pricing and in the deep value segment, where new competitors are aggressively discounting rentals.  In Europe, improved pricing in commercial rentals is being more than offset by negative pricing for leisure rentals, where demand is softest.

Worldwide car rental adjusted pre-tax income for the second quarter of 2012 was a record $277.4 million, an increase of $35.2 million from $242.2 million in the prior year period.  The result was driven primarily by increased volume, strong cost management performance and lower net depreciation per vehicle, partially offset by a decrease in RPD. As a result, worldwide car rental achieved a record adjusted pre-tax margin(1) of 14.7% for the quarter, versus 13.7% in the prior year period.

The worldwide average number of Company-operated cars for the second quarter of 2012 was 656,200, an increase of 34.7% over the prior year period, largely as a result of the Donlen acquisition, and a 4.6% increase year-over-year excluding the effects of the Donlen acquisition.

Commenting on the results of the Company’s car rental business, Mark Frissora said, “U.S. rent-a-car continues to generate record operating results and we are especially pleased by the performance of the Advantage brand which grew revenues approximately 42% in the second quarter.”

WORLDWIDE EQUIPMENT RENTAL

Worldwide equipment rental revenues were $335.0 million for the second quarter of 2012, an 11.0% increase (a 13.1% increase excluding the effects of foreign currency) from the prior year period, driven by an 18.8% revenue increase in the U.S. and 15.2% in North America.

Adjusted pre-tax income for worldwide equipment rental for the second quarter of 2012 was $42.5 million, an improvement of $9.1 million from $33.4 million in the prior year period, primarily attributable to the effects of increased volume and pricing and cost management initiatives.  Worldwide equipment rental achieved an adjusted pre-tax margin of 12.7% and a Corporate EBITDA margin(1) of 37.7% for the quarter.  Worldwide

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equipment rental Corporate EBITDA margin of 37.7% was negatively impacted 180 basis points due to insurance claims reserves and legal expenses.

The average acquisition cost of rental equipment operated during the second quarter of 2012 increased by 8.1% year-over-year and net revenue earning equipment as of June 30, 2012 was $2,030.0 million, compared to $1,911.1 million as of March 31, 2012.

OUTLOOK

The Company reaffirms its full year 2012 revenues, Corporate EBITDA, adjusted pre-tax income, adjusted net income and adjusted diluted earnings per share guidance provided on May 2, 2012.  The Company expects to generate worldwide revenues in the range of $8.9 billion to $9.0 billion, Corporate EBITDA in the range of $1.60 billion to $1.66 billion, adjusted pre-tax income in the range of $870 million to $940 million, adjusted net income in the range of $570 million to $620 million and adjusted diluted earnings per share in the range of $1.28 to $1.38 (based on 450 million shares).(2)

RESULTS OF THE HERTZ CORPORATION

The Company’s operating subsidiary, The Hertz Corporation (“Hertz”), posted the same revenues for the second quarter of 2012 as the Company.  Hertz’s second quarter 2012 pre-tax income was $171.7 million versus the Company’s pre-tax income of $158.7 million.  The difference between Hertz’s and the Company’s results is primarily due to additional interest expense recognized by the Company on its 5.25% Convertible Senior Notes issued in May and September 2009.

(1)          Adjusted pre-tax income, adjusted pre-tax margin, Corporate EBITDA, Corporate EBITDA margin, adjusted net income, adjusted diluted earnings per share, corporate cash flow, 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, adjusted net 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, adjusted net income and adjusted diluted earnings per share are (i) pre-tax income and cash flows from operating activities, (ii) pre-tax income, (iii) net income, and (iv) diluted earnings per share, respectively.  Because of the forward-looking nature of the Company’s forecasted Corporate EBITDA, adjusted pre-tax income, adjusted net 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 net income 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, adjusted net income and adjusted diluted earnings per share to forecasted cash flows from operating activities, pre-tax income, net income and diluted earnings per share would imply a degree of precision that would be confusing or misleading to investors for the reasons identified above.

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CONFERENCE CALL INFORMATION

The Company’s second quarter 2012 earnings conference call will be held on Tuesday, July 31, 2012, at 10:00 a.m. (EDT). To access the conference call live, dial 866-269-9612 in the U.S. and 612-332-0530 for international callers using the passcode: 253851 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 August 14, 2012 by calling 800-475-6701 in the U.S. or 320-365-3844 for international callers with the passcode: 253851.   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 8,750 corporate and licensee locations in approximately 150 countries in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz is the number one airport car rental brand in the U.S. and at 119 major airports in Europe.  In addition, the Company has sales and marketing centers in 60 countries which promote Hertz business both within and outside such country. Product and service initiatives such as Hertz Gold Choice, Hertz #1 Club Gold®, NeverLost® customized, onboard navigation systems, Sirius XM Satellite Radio, and unique cars and SUVs offered through the Company’s Adrenaline, Prestige and Green Traveler Collections, set Hertz apart from the competition. In 2008, the Company entered the global car sharing market with its service now referred to as Hertz On Demand which rents cars by the hour and/or by the day, at various locations in the U.S., Canada and Europe.  Hertz also operates one of the world’s largest equipment rental businesses, Hertz Equipment Rental Corporation, offering a diverse line of rental equipment, from small tools and supplies to earthmoving equipment, as well as new and used equipment for sale, to customers ranging from major industrial companies to local contractors and consumers, from approximately 330 branches in the United States, Canada, China, France, Spain and Saudi Arabia, as well as through its international licensees.  Hertz also owns Donlen Corporation, based in Northbrook, Illinois, which is a leader in providing fleet leasing and management services.

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 and results of operations, 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,” “forecasts” 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: our ability to obtain regulatory approval for and to  consummate an acquisition of Dollar Thrifty Automotive Group; the risk that expected synergies, operational efficiencies and cost savings from a Dollar Thrifty acquisition may not be fully realized or realized within the expected time frame; the operational and profitability impact of divestitures that may be required to be

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undertaken to secure regulatory approval for an acquisition of Dollar Thrifty; 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; occurrences that disrupt rental activity during our peak periods; our ability to achieve cost savings and efficiencies and realize opportunities to increase productivity and profitability; an increase in our fleet costs as a result of an increase in the cost of new vehicles and/or a decrease in the price at which we dispose of used vehicles either in the used vehicle market or under repurchase or guaranteed depreciation programs; our ability to accurately estimate future levels of rental activity and adjust the size of our fleet accordingly; our ability to maintain sufficient liquidity and the availability to us of additional or continued sources of financing for our revenue earning equipment and to refinance our existing indebtedness; safety recalls by the manufacturers of our vehicles and equipment; a major disruption in our communication or centralized information networks; financial instability of the manufacturers of our vehicles and equipment; any impact on us from the actions of our licensees, franchisees, dealers and independent contractors; our ability to maintain profitability during adverse economic cycles and unfavorable external events (including war, terrorist acts, natural disasters and epidemic disease); shortages of fuel and increases or volatility in fuel costs; our ability to successfully integrate acquisitions and complete dispositions; our ability to maintain favorable brand recognition; costs and risks associated with litigation; risks related to our indebtedness, including our substantial amount of debt and our ability to incur substantially more debt and increases in interest rates or in our borrowing margins; our ability to meet the financial and other covenants contained in our senior credit facilities, our outstanding unsecured senior notes and certain asset-backed and asset-based funding arrangements; changes in accounting principles, or their application or interpretation, and our ability to make accurate estimates and the assumptions underlying the estimates, which could have an effect on earnings; changes in 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, the cost thereof or applicable tax rates; changes to our senior management team; the effect of tangible and intangible asset impairment charges; the impact of our derivative instruments, which can be affected by fluctuations in interest rates and commodity prices; and our exposure to fluctuations in foreign exchange rates.  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 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 and Six Months Ended June 30, 2012 and 2011

Table 2:            Condensed Consolidated Statements of Operations As Reported and As Adjusted for the Three and Six Months Ended June 30, 2012 and 2011

Table 3:            Segment and Other Information for the Three and Six Months Ended June 30, 2012 and 2011

Table 4:            Selected Operating and Financial Data as of or for the Three and Six Months Ended June 30, 2012 compared to June 30, 2011 and Selected Balance Sheet Data as of June 30, 2012 and December 31, 2011

Table 5:            Non-GAAP Reconciliations of Adjusted Pre-Tax Income (Loss), Adjusted Net Income (Loss) and Adjusted Diluted Earnings (Loss) per Share for the Three and Six Months Ended June 30, 2012 and 2011

Table 6:            Non-GAAP Reconciliations of EBITDA, Corporate EBITDA, Unlevered Pre-Tax Cash Flow, Levered After-Tax Cash Flow Before Fleet Growth and Corporate Cash Flow for the Three and Six Months Ended June 30, 2012 and 2011

Table 7:            Non-GAAP Reconciliations of Operating Cash Flows to EBITDA for Three and Six Months Ended June 30, 2012 and 2011, Net Corporate Debt, Net Fleet Debt and Total Net Debt as of June 30, 2012, 2011 and 2010, March 31, 2012 and 2011, and December 31, 2011 and 2010, Car Rental Rate Revenue per Transaction Day and Equipment Rental and Rental Related Revenue for the Three and Six Months Ended June 30, 2012 and 2011

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 June 30, 2012 and 2011, also includes restructuring and restructuring related charges of $9.0 million and $30.8 million, respectively.   For the six months ended June 30, 2012 and 2011, also includes restructuring and restructuring related charges of $17.0 million and $35.3 million.

(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 June 30, 2012 and 2011, also includes restructuring and restructuring related charges of $12.2 million and $5.6 million, respectively. For the six months ended June 30, 2012 and 2011, also includes restructuring and restructuring related charges of $14.1 million and $6.5 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 and write off of deferred debt financing costs and debt discounts.

(e)               Represents premiums paid to redeem our 10.5% Senior Subordinated Notes and a portion of our 8.875% Senior Notes.

(f)                 Represents a provision for income taxes derived utilizing a normalized income tax rate (34% for 2012 and 2011).

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)