Cendant Partners with United States Hispanic Chamber of Commerce.

Business Editors

WASHINGTON--(BUSINESS WIRE)--April 15, 2003

George Herrera, President and Chief Executive Officer of the United States Hispanic Chamber of Commerce (USHCC), today announced that Cendant Corporation (NYSE: CD) has joined the USHCC as a corporate partner. Cendant is one of the foremost providers of travel and real estate services in the world.

"As the world's leading company within various industries including hotel franchising, car rental, residential real estate, timeshare and tax preparation, Cendant is an important new USHCC partner," said Herrera. "The strategic alliance between Cendant and the USHCC will enhance our efforts to provide opportunities that will support the growth of Hispanic small businesses and help Cendant companies tap into the Hispanic market."

Elements of the partnership include brand advertising on the USHCC syndicated television show Hispanics Today, participating in franchising seminars at USHCC regional events and other joint promotions to reach both Hispanic business owners and consumers.

"Cendant is committed to building our businesses with diverse partners that help us reach all consumers, particularly the fast growing Hispanic market," said Tom Christopoul, Cendant Senior Executive Vice President and Chief Administrative Officer. "From franchising, to supplier development, to consumer marketing, we see USHCC as an outstanding partner for Cendant and our leading brands."

The USHCC Corporate Partner Program is comprised of Fortune 500 companies from across the country with a mission to promote the growth of the Hispanic business community. The USHCC and its partners create and implement various programs and initiatives that will provide USHCC members with business, economic and networking opportunities, as well as targeted access and links to associated consumer markets.

The Cendant companies participating in the partnership include: AmeriHost Inn, Avis, Coldwell Banker, Days Inn, Howard Johnson, Jackson-Hewitt, Knights Inn, Ramada, RCI Holiday Network, Super 8, Travelodge, Villager Lodge and Wingate Inn.

The USHCC represents the interests of more than 1.2 million Hispanic-owned businesses in the United States and Puerto Rico, which earn more than $200 billion annually. It serves as the umbrella organization for over 130 local Hispanic chambers nationwide, and it actively promotes the economic growth and development of Hispanic entrepreneurs. For more information visit www.ushcc.com.

Cendant Corporation is primarily a provider of travel and residential real estate services. With approximately 90,000 employees, New York City-based Cendant provides these services to businesses and consumers in over 100 countries. More information about Cendant, its companies, brands and current SEC filings may be obtained by calling 877-4INFO-CD (877-446-3623) or by visiting the Company's Web site at www.cendant.com.