United Rentals extends consent solicitation for 6½%, 7¾%, 7% notes, 1.875% convertibles, 6.5% QUIPs

New York, Sept. 1 - United Rentals, Inc. said it has extended its solicitation of consents to amend the indentures governing its securities to allow the company additional time to make filings with the Securities and Exchange Commission.

The expiration is now 5 p.m. ET on Sept. 9 instead of 5 p.m. ET on Sept. 7.

As announced on Aug. 22, United Rentals is soliciting the consents because it has delayed filing its 10-K for 2004 and 10-Qs for the first two quarters of 2005.

Affected securities include United Rentals' 6½% senior notes due 2012, 7¾% senior subordinated notes due 2013, 7% senior subordinated notes due 2014, 1.875% convertible senior subordinated notes due 2023 and 6.5% convertible Quarterly Income Preferred Securities (QUIPs).

United Rentals will pay a consent fee of $2.50 for each $1,000 principal amount of notes and $0.125 for each $50 liquidation preference of QUIPs.

The proposal allows the company until March 31, 2006 to file its reports and waive related past violations.

Also, if the company does not file its 2004 10-K by Dec. 31, it will pay an additional $2.50 for each $1,000 principal amount of notes and $0.125 for each $50 liquidation preference of QUIPs.

The company must obtain consents from a majority of noteholders.

Credit Suisse First Boston is solicitation agent and MacKenzie Partners (800 322-2885 or call collect 212 929-5500) is information agent.

Based in Greenwich, Conn., United Rentals is the largest equipment rental company in the world.

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