Duff & Phelps Provided a Fairness Opinion to United Rentals, Inc.

Duff & Phelps acted as independent financial advisor to the Board of Directors (the “Board”) of United Rentals, Inc. (the “Company”) in its acquisition of RSC Holdings Inc. in a cash-and-stock transaction (the “Merger”) valued at $18.00 per share at the time of announcement and implying a total enterprise value of $4.2 billion, which includes $2.3 billion of net debt. As part of the RSC acquisition, the Company merged all of RSC’s U.S. domestic subsidiaries, including RSC’s principal operating subsidiary, RSC Equipment Rental, Inc., and certain of the Company’s existing subsidiaries, including United Rentals Northwest Inc. and United Rentals (North America), Inc., into a newly formed operating company (the “Reorganization”). The new company became URI’s sole operating subsidiary in the United States and was renamed United Rentals (North America), Inc. (“New URNA”).

About United Rentals
United Rentals, Inc. is the largest equipment rental company in the world, with an integrated network of more than 970 rental locations in 48 states and 10 Canadian provinces. The Company's 12,000 employees serve construction and industrial customers, utilities, municipalities, homeowners and others.

Transaction Role
Duff & Phelps acted as the independent financial advisor to the Board of Directors of United Rentals, and issued solvency opinion in connection with the Merger and a fairness opinion in connection with the Reorganization.