Cendant Settlement Services Group Will Use Emergis Vendor Services Exchange to Electronically Deliver and Manage Appraisal Services.

Business Editors

MCLEAN, Va.--(BUSINESS WIRE)--March 11, 2004

System-to-System Integration Will Seamlessly Link Cendant's Ordering

System with the BCE Emergis eLending Platform

BCE Emergis (TSX: IFM) announced today that Cendant Settlement Services Group, a subsidiary of Cendant Corporation (NYSE: CD), has opted to utilize Emergis(R) Vendor Services Exchange to conduct appraisal transactions electronically. BCE Emergis will develop a customized integration with Cendant's proprietary ordering system, enabling Cendant's mortgage originators and over 2,500 appraisers to connect online to seamlessly place, receive, and manage status of appraisal orders in a standardized format. BCE Emergis will also provide Cendant access to automated appraisal review engines that will improve error identification and enhance quality control.

Emergis Vendor Services Exchange is a workflow management service that transmits loan data and documents between mortgage originators and settlement service providers in real-time. It is part of the BCE Emergis eLending platform, a comprehensive set of Web-based services designed for paperless loan fulfillment, closing and storage that can be used individually or as an end-to-end solution.

"When Cendant Settlement Services Group issued their request for proposal seeking a flexible method for delivering appraisal orders and products, we knew Emergis Vendor Services Exchange would provide exactly the customizable, secure and efficient electronic processing capabilities they needed," declared Jim Aber, President of eFinance at BCE Emergis. "The eLending platform is designed to be integrated easily with our customer's proprietary systems and provide end-to-end mortgage loan processing functionality."

The agreement strengthens the existing relationship between BCE Emergis and Cendant. BCE Emergis will migrate Cendant's users from their Appraisal Delivery System (ADS), which Cendant has been using to deliver appraisals electronically since 1998, to Emergis Vendor Services Exchange on the eLending platform. BCE Emergis plans to roll out the integrated solution, which is already in development, to Cendant users in the second quarter of 2004.

"Implementing this cutting-edge technology solution represents a significant improvement to the service we provide our users, and to their ability to place and fulfill orders while improving overall efficiency and order cycle time," stated Mike Barattucci, Vice-President of Cendant Settlement Services Group. "BCE Emergis is a leading provider of e-mortgage solutions, and we are confident it will continue to be a mutually beneficial and longstanding relationship."

Cendant Settlement Services Group is a leading real estate information company providing products and services to support residential and commercial transactions. Cendant Settlement Services Group is a national company with 2,300 employees, headquartered in Moorestown, New Jersey. For additional information about Cendant Corporation, its companies, brands and business units, including Cendant Settlement Service Group, visit the Cendant Media Resource Center at www.cendant.com/media/.

About BCE Emergis

BCE Emergis Inc. is a leading North American eBusiness company. Its core operations consist of supplying eBusiness solutions to the North American financial services and Canadian health industries, automating transactions between companies and allowing them to interact and transact electronically. Its leading solutions are centred on claims, loans and payments processing, as well as related security services.

BCE Emergis customers include leading North American health insurers, the top six Canadian banks and a number of North America's largest enterprises. The Company's shares (TSX: IFM) are included in the S&P/TSX Composite Index.

Certain statements made in this press release are forward-looking and are subject to important risks, uncertainties and assumptions. The results or events predicted in these forward-looking statements may differ materially from actual results or events. Other than the sale of BCE Emergis' U.S. health operations, these statements do not reflect the potential impact of any non-recurring items or of any dispositions, monetizations, mergers, acquisitions, other business combinations or other transactions that may be announced or that may occur after the date hereof. Other factors that could cause results or events to differ materially from current expectations include, among other things: general and economic factors; adoption of eBusiness, the adoption rate of our solutions by customers, response to industry's rapid pace of change, competition, operating results, success of U.S.-based operations, control by BCE Inc., integration of past acquisitions, strategic relationships, dependence on contracting medical service providers, exposure to professional liability, defects in software or failures in the processing of transactions, security and privacy breaches, key personnel, protection of intellectual property, intellectual property infringement claims, integrity of public key cryptography technology, and industry and government regulation. For additional information with respect to certain of these and other factors, refer to BCE Emergis Inc.'s Annual Report (Management Discussion and Analysis) and the BCE Emergis Inc. Annual Information Form (Risks and Uncertainties) filed with the Canadian securities commissions.

THE FORWARD-LOOKING STATEMENTS CONTAINED IN THIS PRESS RELEASE REPRESENT THE EXPECTATIONS OF BCE EMERGIS INC. AND ITS SUBSIDIARIES AS AT MARCH 11, 2004 AND, ACCORDINGLY, ARE SUBJECT TO CHANGE AFTER SUCH DATE. HOWEVER, BCE EMERGIS INC. AND ITS SUBSIDIARIES DISCLAIM ANY INTENTION OR OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENTS, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.