URI United Rentals

Schatz & Nobel, P.C. Announces Class Action Lawsuit Against United Rentals, Inc. HARTFORD, Conn., Sept. 28 /PRNewswire/ -- The law firm of Schatz & Nobel, P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the District of Connecticut on behalf of all persons who purchased the publicly traded securities of United Rentals, Inc. (NYSE:URI) ("United Rentals") between October 23, 2003 and August 30, 2004, inclusive (the "Class Period"). Also included are all those who acquired United Rental's shares through its acquisition of Skyreach Equipment. The Complaint alleges that United Rentals and certain of its officers and directors issued materially false statements. Specifically, United Rentals failed to disclose the following facts: (i) that the Company, in an effort to generate a more favorable stock price and raise capital, manipulated its financial results through the use of restructuring charges, asset writedowns, and debt refinancing; (ii) that United Rentals improperly delayed recognition of bad accounts receivable; (iii) that as a result of these manipulations, the Company's announced financial results were in violation of Generally Accepted Accounting Principles ("GAAP"); and (iv) that the Company's financial results were materially inflated at all relevant times. On August 30, 2004, United Rentals announced that it had received notice that the SEC was conducting a non-public, fact-finding inquiry of the company. The notice was accompanied by a subpoena requesting the production of documents relating to certain of the Company's accounting records. On this news, Shares of United Rentals fell $4.39 per share, or 21.53%, to close at $16.00 per share on August 30, 2004. If you are a member of the class, you may, no later than November 29, 2004 request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s). For more information about the case, its claims, and your rights, please contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at . To view a copy of the lawsuit initiating the class action, or for more information about class action cases and Schatz & Nobel, please visit our website: http://www.snlaw.net/. DATASOURCE: Schatz & Nobel, P.C. CONTACT: Nancy A. Kulesa, or Justin S. Kudler, both of Schatz & Nobel, P.C., 1-800-797-5499, Web site: http://www.snlaw.net/

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