Coldwell Banker Stevens, Realtors Acquires Melbourne, Feagin & Hammersmith, Real Estate, Inc.

Business Editors/Hi-Tech Writers

COLUMBIA, Md.--(BUSINESS WIRE)--Oct. 3, 2000

Coldwell Banker Stevens, Realtors(R) Moves Into

Columbia, Laurel and Frederick Maryland Locations

Thomas M. Stevens, President of Coldwell Banker Stevens, Realtors(R), and P.G. (Pete) Melbourne, President and Owner of Coldwell Banker Melbourne, Feagin & Hammersmith, Real Estate, Inc. announced the acquisition that will merge Coldwell Banker Melbourne, Feagin & Hammersmith with Coldwell Banker Stevens, Realtors(R).

This merger initiates Coldwell Banker Stevens, Realtors(R) expansion into the Columbia, Laurel and Frederick, Maryland markets, bringing the company to a current total of 39 sales offices and 1,400 sales associates throughout the Baltimore-Washington, D. C. metropolitan corridor.

Coldwell Banker Stevens, Realtors(R) Columbia office is located at 10300 Little Patuxent Parkway in Columbia, Maryland. The Laurel Office is located at 306 Second Street in Laurel, Maryland and the Frederick Office is located at 478 Prospect Blvd. in Frederick, Maryland.

In addition, kiosk locations are strategically located in the three shopping malls within each of these market areas at The Mall in Columbia, The Laurel Mall and Francis Scott Key Mall.

"I was waiting for the right situation to come along with respect to our family of sales associates, managers and employees. Everything I ever read or heard about Coldwell Banker Stevens, Realtors(R) was positive. Several companies approached us with interest in moving into the markets served by Coldwell Banker Melbourne, Feagin & Hammersmith Real Estate, Inc. but we felt Coldwell Banker Stevens, Realtors(R) had the technology tools and business philosophies to lead us into the 21st century," explained Melbourne at the announcement meeting held at the Sheraton Columbia Hotel in Columbia, Maryland last evening.

"We talked with a number of companies prior to selling to Coldwell Banker Stevens, Realtors(R), but we felt that Coldwell Banker Stevens, Realtors(R) philosophy was a natural fit for our sales associates and employees," remarked Glenn Feagin, Vice President and Owner of Coldwell Banker Melbourne, Feagin & Hammersmith.

In recent weeks, Coldwell Banker Stevens, Realtors(R) also opened four new offices in the Baltimore County market area including locations at Bel Air at Festival Mall, Ellicott City, Towson/Timonium and White Marsh.

Stevens sees this as a perfect move for both of the Coldwell Banker firms. "We recognize the strength of Coldwell Banker, understand the value of a national brand name and the importance of understanding the local real estate market and area trends in home buying and selling. The sales associates on our team are pleased to be aligning with a market leader like Coldwell Banker Melbourne, Feagin & Hammersmith, and we anticipate a bright and successful future. It's an exciting time in the Columbia, Laurel, Frederick and Baltimore markets for Coldwell Banker sales associates," said Stevens.

Coldwell Banker Stevens, Realtors(R) is pleased to announce that more than 130 sales associates, along with three managers, have joined Coldwell Banker Stevens, Realtors(R) with the merger. The following is a summary, by office, of the top sales associates who are now affiliated with Coldwell Banker Stevens, Realtors(R):

Carter E. Melbourne, Manager of the Coldwell Banker Stevens, Realtors(R)Columbia office, is pleased to announce the following sales associates are part of the Columbia sales team: Phyllis M. Bracey, Paul M. Buckmaster, Chico Clemmons, Diana M. Curtiss, David K. Eigenbrode, Lisa Weber - Edleman, John Brinton Ellingsworth, Shirley Beares Fiege, Sam S. Fisher, Harry B. Fisher, Donald H. Gravitt, Ann Marie Hannon, Elaine Schmidt Hilliard, Ingrid Ireland, Jeffrey Jones, Linda Kangrga-Monroe, Ruth E. LaMonte, Natalie Kroll Lobe, Suzanne G. Lindsay, Lucie M. Lynch, Andrea F. Melbourne-Kirkpatrick, Sharon E. Oxenham, Van T. Mai, Helen Krupnik Sheckells, Tina L. Smith, Sarah A. Webster, Willie Wiggins, Benjamin H. Edwards and Helga S. Taranto.

Russell Franklin Spikes, Manager of the Coldwell Banker Stevens, Realtors(R)Laurel office, is pleased to announce the following sales associates are part of the Columbia sales team: Derrick A. Brown, Mary T. Chieppa, Herbert E. Bonnette, Linda D. Amer, Delores Hertha Blahnik, Bruno J. Bozzi, Kevin Hammersmith, Robin O'Dwyer Crowder, Leon A. Hasnain, Laura A. Feagin, Glenn Wayne Feagin, Evelyn E. Tolodziecki, Christine Godbold, Peter Kowzun, Steven K. Huynh, Joyce Ann Melbourne, Bonnie B. Miller, Georgianne G. McNeirney, Paul D. Hudson, Paul J. Hirt, Robert James Maslar, Robert Earnest John Martin, John P. Martin, Oren Dewitte Mangrum, Karen M. Guiffre, Suzanne Michelle Hammersmith, Margaret M. Luber, Angela Cecelia Simmons, Beverly A. Teal, Reta C. Sponsky, Latasha R. Smith, Joseph C. Poirier, Helen M. Weir, Donna Lee Vencil, Renee Saunders, Melanie A. Bent, Judith K. Mangrum , Carol A. Ryan, Connie Marie Techau, Michael N. Chagnon, Victoria Tatarewicz, Joy A. Truby, Brenda Joyce Purvis, Weldon O. Mitchell, Leroy Sidney Morton, Gregory B. Surniak and Thomas N. Sullivan.

Gracie Gawler, Manager of the Coldwell Banker Stevens, Realtors(R)Frederick office, is pleased to announce the following sales associates are part of the Frederick sales team: Rebecca Becker, Flora Bleckner, Joseph E. Bowers, Pamela Bowers, Robert L. Bowers, Jr., Robert Jerry Coates, Malissa Cook, Sylvia S. Cowles, Evelyn Kefauver Decker, Elizabeth P. Donaty, Dwight D. Dotterer, Sara Louise Goodman, Stephen Grams, Gail Canavan Mann, Mark Matthew Matovich, Jr., Brian G. McClellan, Phyllis J. Michaels, Misty A. Minnick, Ronald P. Parr, Evelyn J. Taylor, Russell E. Seward, Frank J. Valente, Brian Melvin Zimmerman, Jimmie G. Zimmerman and Joyce A. Zimmerman.

Coldwell Banker Stevens, Realtors referral network, based in Laurel, Maryland, also announces the following sales associates are part of the Laurel team: Olanda T. Barbato, Amanda K. Chronister, Kaye F. Deener, Ruth Ann Flynn, Eleanor Moland, Bethany A. Haslup, Kathleen Hill, Nancy A. Laurine, Terrence Rickrode, Timothy John Spahr, Robert L. Wroe and Lois Harriett White.

"We are taking two great Coldwell Banker firms and combining the strengths of both. Our sales associates have a tremendous knowledge of their marketplaces, whether they work in our Columbia, Laurel or Frederick markets. Couple that with the cutting edge technology systems of Coldwell Banker Stevens, Realtors(R) and the strength of 3,000 offices and 72,000 sales associates nationally through Coldwell Banker, and we have one powerful force in this market. I am extremely excited about this growth, and we look forward to being able to provide home buyers and sellers in the Columbia, Laurel and Frederick market areas with the quality of service they expect and deserve," remarked Melbourne.

Stevens' strategic plan for Coldwell Banker Stevens, Realtors(R) includes a continued focus to increase the level of quality services the Company provides to their consumers through the use of today's advanced technology systems.

The continued increase in the Company's market share is also part of Stevens' plan; by expanding into adjoining markets, Coldwell Banker Stevens, Realtors(R) is capable of directly serving the real estate needs of consumers through the entire Baltimore/Washington metropolitan market. In 1995, Stevens' purchase of the Maryland-based Coldwell Banker Nyman Realty company initiated the beginning of his expansion into the Maryland sales market.

Included with the purchase of Coldwell Banker Nyman's 7 offices was its property management company managing accounts for Washington, D.C. to St. Mary's County, its appraisal company, ABS Appraisal, and residential sales offices in Andrews, Bowie, Greenbelt, Oxon Hill and Upper Marlboro.

This purchase not only expanded Coldwell Banker Stevens, Realtors(R) into the Prince George's County market, but did so with a company that enjoyed an outstanding reputation for over 30 years.

In November of 1996, Stevens added another market area to the list of those directly served by his company, this time moving farther west in Virginia with the purchase of Coldwell Banker Miller Hunt Real Estate, located in Fauquier County, Virginia. This acquisition, however, did not represent Stevens' only major expansion that year.

In December of 1996, Stevens opened his first office in the nation's capital. On September 1, 1997, the company expanded its market penetration once again as Coldwell Banker Stevens opened a Gaithersburg office, its first in Montgomery County.

Coldwell Banker Stevens, Realtors(R)' next expansion took the company to Anne Arundel County, Maryland, as Tom Stevens purchased Coldwell Banker Home Realty Professionals on February 1, 1998. The purchase represented the addition of that company's 3 residential sales offices in Annapolis, Severna Park and Glen Burnie, Maryland.

In April, 1998, Coldwell Banker Stevens, Realtors(R) purchased Century 21 Royal Properties, which consisted of two offices located in Great Falls and McLean, Virginia. The McLean office merged into the company's existing McLean location, while the Great Falls office represented the company's first move into the Great Falls, Virginia market area.

Coldwell Banker Stevens, Realtors(R) next moved the company into Loudoun County, Virginia with the purchase of Century 21 South Lakes Realty. Century 21 South Lakes Realty was composed of two offices, one in Reston and one in the Dulles/Loudoun county area. The Reston office joined Coldwell Banker Stevens, Realtors(R) existing Reston office, while the Dulles/Loudoun office expanded the company's reach into the Loudoun County market area.

Since it was established in October 1993, the achievements of the Stevens companies have been unprecedented. Named #3 of all Coldwell Banker affiliates nationally, Coldwell Banker Stevens, Realtors(R) has grown from 485 associates to its total population of more than 1,400 agents.

In February, 1999, Coldwell Banker Stevens, Realtors(R) was recognized as the No. 1 Coldwell Banker affiliate in the entire northeast region of the U.S. and continues to hold that ranking.

Coldwell Banker Stevens, Realtors(R) continues its fast-track growth as the fastest growing real estate company in the Baltimore-Washington metropolitan area. Coldwell Banker Stevens, Realtors(R) currently has 39 offices with more than 1,400 sales associates in Virginia, Maryland and Washington, D.C.

The corporate headquarters of Coldwell Banker Stevens, Realtors(R) is 465 Maple Avenue, West, Suite B, in Vienna, Virginia. For more information about Coldwell Banker Stevens, Realtors(R), please visit the company's website at www.cbstevens.com.

Coldwell Banker Real Estate Corporation, a subsidiary of Cendant Corporation (NYSE: CD), franchises more than 3,000 independently-owned and operated real estate offices with more than 72,000 sales associates throughout North America. For more than 90 years, Coldwell Banker has been North America's premier full-service provider of real estate services.