Century 21 enters into first licensing agreement; Hospitality Franchise Systems announces book publishing agreement with Dearborn Financial Publishing.

PARSIPPANY, N.J.--(BUSINESS WIRE)--August 7, 1995--Hospitality Franchise Systems Inc. (NYSE: HFS) and Dearborn Financial Publishing Inc. (Dearborn) announced today the licensing of the Century 21 brand name for the purpose of a book series for residential real estate consumers.

Under the terms of the seven year agreement, Dearborn will publish and market a consumer-oriented, Century 21 series of real estate books on diverse topics such as selling and purchasing a home, real estate financing, and home improvement. Dearborn will launch the series with three books in the Spring of 1996. Each season, Dearborn will introduce several new titles under the Century 21 banner that are designed to help consumers buy, sell, maintain and enjoy their homes. It is expected that during the term of the agreement, several dozen books will be published and marketed. Additionally, through Dearborn's utilization of leading edge technology, selected publications will also be available to consumers in CD-ROM format.

"This agreement represents our first effort in leveraging the value of the Century 21 brand name to the benefit of Century 21 franchisees and HFS shareholders," stated John D. Snodgrass, chairman of Century 21 and president and COO of HFS. "Our goal is to increase the marketing impressions of our brand name, through licensing agreements such as this one, which result in a higher level of consumer awareness of the Century 21 brand."

Snodgrass added, "We are very excited by the opportunity of working with Dearborn, the leading real estate publishing company in the country, and look forward to the availability of publications under the Century 21 brand name that cover various topics in the residential real estate and related service market for use by consumers around the world."

"We see this as a tremendous opportunity to combine the strength of the Century 21 name with our own dominant position in real estate publishing," said Robert C. Kyle, chairman and CEO of Dearborn Publishing Group. "We believe this partnership of two industry leaders will produce better information for the ever growing needs of the consuming public."

Dearborn Financial Publishing is a premier publisher of how-to and reference books and CD-ROMS designed to satisfy the changing global financial information needs of professionals and consumers. A leading publisher of real estate, investment, personal finance and small business books, Dearborn launched its publishing program with the bestselling Modern Real Estate Practice which now has more than 2.5 million copies in print. Dearborn is also the top provider of training and information for professionals in the real estate, insurance, securities, commodities and banking industries. Dearborn has prepared more than 400,000 financial professionals for their careers.

Hospitality Franchise Systems Inc. is the world's largest franchising company serving two global consumer industries: lodging and residential real estate. Its stock is listed on the New York Stock Exchange under the symbol "HFS." In lodging, HFS has over 4,400 Days Inn, Howard Johnson, Park Inn, Ramada, Super 8 and Villager Lodge franchised hotels with approximately 435,000 rooms in the United States, Canada, Latin America and Europe. In residential real estate, the company has approximately 6,000 Century 21 franchised offices in the United States and twelve other countries.

CONTACT: Hospitality Franchise Systems Inc.

Michael H. Wargotz, 201/952-8444