April 16, 2002

Hertz to spin off equipment rental division

Dearborn, Michigan – Hertz rental car corporation, and its owner Ford Motor Company, announced that they are evaluating the sale or partial disposition of Hertz Equipment Rental Corporation (HERC), a wholly owned subsidiary of The Hertz Corporation.

HERC is one of the world’s largest rental suppliers of construction and industrial equipment including earthmoving equipment, material handling equipment, aerial and electrical equipment, air compressors, pumps, compaction equipment and construction related trucks. HERC operates in the United States, Canada, France and Spain.

The Hertz Corporation is a wholly owned subsidiary of the Ford Motor Company.

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