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Hertz Global EV Partners With CODA Automotive(TM)

PARK RIDGE, NJ, Nov 22, 2010 (MARKETWIRE via COMTEX) — In the news release, “Hertz Global EV Partners With CODA Automotive(TM) to Bring 100% Electric CODA Sedan to Fleet in 2011,” issued earlier today by The Hertz Corporation /quotes/comstock/13*!htz/quotes/nls/htz (HTZ 12.37, +0.43, +3.60%) , we are advised by the company that the quote in the fourth paragraph should be attributed to “Mark Jamieson, Chief Financial Officer and Chief Operating Officer, CODA Automotive,” rather than “Kevin Czinger, Chief Executive Officer of CODA Automotive,” as originally issued. Complete corrected text follows.

Hertz Global EV Partners With CODA Automotive(TM) to Bring 100% Electric CODA Sedan to Fleet in 2011

Hertz Meets Another Benchmark in Creation of Global Eco-Mobility System

PARK RIDGE, NJ — November 22, 2010 — The Hertz Corporation /quotes/comstock/13*!htz/quotes/nls/htz (HTZ 12.37, +0.43, +3.60%) , the world’s largest general use airport car rental brand, today announced a joint partnership with CODA Automotive, a car manufacturer that specializes on all-electric vehicle, to bring, in 2011, its new four-door, five-passenger all-electric CODA Sedans(TM) to Hertz’s California locations as part of the Hertz Global EV program.

“Hertz’s partnership with CODA Automotive is another element of our long term strategy to provide consumers with electric vehicle access on a global scale,” said Mark P. Frissora, Hertz Chairman and Chief Executive Officer. “As we continue to build out our EV and PHEV infrastructure, we get closer to making electric vehicle travel an everyday reality.”

As announced in September, Hertz Global EV will be the first company to provide a range of all-electric vehicles and charging stations on a rental and car-sharing basis at global scale. The CODA Sedan will join vehicles from Nissan and other manufacturers as part of Hertz Global EV’s diverse fleet. With a range of 90 to 120 miles per charge during all seasons, the CODA Sedan is designed to be plugged straight into a standard household unit, among other charging options, for a seamless experience.

Mark Jamieson, Chief Financial Officer and Chief Operating Officer, CODA Automotive, said, “CODA Automotive and Hertz share the goal of bringing EV technology to the everyday consumer and making electric-vehicle travel easy and seamless. Hertz has the industry expertise and extensive global network, and we have a revolutionary vehicle and unmatched devotion to the all-electric platform — together it’s a winning combination.”

As the world’s largest general-use airport car-rental brand, Hertz is uniquely positioned to introduce multiple groups of consumers — urban drivers, university students, travelers, and corporations — to the all-electric vehicle.

For more information, visit www.hertz.com. For more information on CODA Automotive, visit www.codaautomotive.com.

About Hertz Hertz is the largest worldwide airport general use car rental brand operating from more than 8,400 locations in 146 countries worldwide. Hertz is the number one airport car rental brand in the U.S. and at 81 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(R), NeverLost(R) customized, in-car GPS system, 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. and the global car sharing club, Connect by Hertz, in New York City, Berlin, London, Madrid and Paris. And, 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, and 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, Spain and Italy.

About CODA Automotive CODA Automotive is a privately held company headquartered in Santa Monica, California that designs, manufactures and sells electric vehicles and lithium-ion battery systems purpose-built for transportation and utility applications. Its vision is to be the key technology provider to reduce global dependence on oil and the social, economic and environmental destruction that follows. Its focus is green technology. Its team is a small group of technology-minded innovators who are committed to doing things differently — from automotive design, manufacturing and distribution, right up to service needs and the entire customer experience.

SOURCE: The Hertz Corporation

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