<PAGE> 1
EXHIBIT 20
FOR IMMEDIATE RELEASE CONTACT: Richard Broome
Media Relations: 201-307-2486
Lauren S. Babus
Investor Relations: 201-307-2337
THE HERTZ CORPORATION RECEIVES ACQUISITION PROPOSAL FROM
FORD MOTOR COMPANY
PARK RIDGE, NJ, SEPTEMBER 21, 2000 - The Hertz Corporation (NYSE: HRZ) announced
today that it has received a preliminary, non-binding proposal from Ford Motor
Company (NYSE: F) to acquire, through a merger, all of the outstanding shares of
Hertz Class A common stock that are not currently owned by Ford at a cash price
of $30 per share. Ford currently owns approximately 81.5% of Hertz' Class A
common stock. The proposal is subject to approval of the Hertz Board of
Directors, the Board's favorable recommendation to Hertz shareholders and the
negotiation, execution and performance of a definitive merger agreement. Hertz'
Board of Directors will meet soon to begin evaluating Ford's proposal.
Hertz is the world's largest car rental company and a leading industrial and
construction equipment rental business. Headquartered in Park Ridge, NJ, Hertz
operates from approximately 6,500 locations in the U.S. and in over 140 foreign
countries.
###
-4-
