Coldwell Banker Stevens, Realtors Makes Its Move Into The Baltimore Market Area.

Business Editors

BALTIMORE--(BUSINESS WIRE)--Sept. 28, 2000

More Than 100 Sales Associates Team Up With Coldwell Banker Stevens,

Realtors(R) As Company Offers Top-Notch Service To Home Buyers and

Sellers In The Area

Thomas M. Stevens, President of Coldwell Banker Stevens, Realtors(R), announced today that Coldwell Banker Stevens, Realtors(R) is aggressively expanding into the Baltimore marketplace.

The company has already opened 4 new offices located in the following areas: Bel Air at Festival Mall, Ellicott City, Towson/Timonium and White Marsh, with more offices to open in the near future.

Pat Kane, the new Senior Vice President of Coldwell Banker Stevens, Realtors(R) and Division Manager of the company's Maryland/Washington, D.C. division sees this as a perfect move for the company. "We 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 Stevens and anticipate a bright and successful future with the company. It's an exciting time in the Baltimore marketplace for sales associates, home buyers and home sellers," said Kane.

Coldwell Banker Stevens, Realtors(R) is pleased to announce that more than 100 sales associates, along with four top managers have joined Coldwell Banker Stevens, Realtors(R) since the recent sale of Coldwell Banker Grempler to Long & Foster.

The following is a summary, by office, of the top sales associates who have recently affiliated with Coldwell Banker Stevens, Realtors(R):

Judy Plowman, Manager of the Bel Air at Festival Mall office, located at 5 Bel Air South Parkway, Suite 1477, Bel Air, Maryland, announced that Shannon Alexander, Monica Conrad, Joan Garvin, Lee Green, Julie King, Rod La Pausky, Gladys Libertini, Barbara Logan, Meredith Leroy, Stephen Noll, Bobbi Panuska, Lisa Reynolds, Rose Ann Spalt and Vicki Wiedel have joined her office from Coldwell Banker Grempler.

Joan Pittroff, Manager of the Ellicott City office, located at 8492 Baltimore National Pike, Suites 101-103, Ellicott City, Maryland, announced that Ernestine Banks, Carol Bizewski-Cooper, Major Boyd, Gayle Briscoe, Heather Charles, Kim Huston, Jim Judge, Wendy Judge, Calvin McCleary, Jadwiga McHale, Tommy Roberts, Betsy Stocksdale, Joy Teague and Jan Waddell have joined her office from Coldwell Banker Grempler.

Claudia Januchowski, Manager of the Towson/Timonium office, located at 1544 York Road, Lutherville, Maryland, announced that Jim Brooks, Shawn Davenport, Betty Dougherty, Nancy Fine, Sue and Carl Goetzinger, Eric Henry, Venetia Holland, Millie Jacob, Leslea Knauff, Jeann Knepper, Betsy Lentz, Ann Mangels, Karl Metsch, Heath O'Laughen, Ron Trzinski, Gail Vogel, Brenda Watts and Larry Yeatman have joined her office from Coldwell Banker Grempler.

Gregg Pluemer, Manager of the White Marsh office, located at 5020 Campbell Blvd., Suite F, White Marsh, Maryland, announced that Fred Archer, Jill Borowy, Mary Borowy, Karrie Hogan, Renee Streib and Chantelle Wildberger have joined his office from Coldwell Banker Grempler.

"The local ownership of Tom Stevens and his entrepreneurial ways continue to keep Coldwell Banker Stevens, Realtors(R) at the forefront of today's real estate industry," continued Kane.

The move by Stevens will take his company to 35 offices serving the Baltimore-Washington metropolitan area. "The Baltimore market was in need of an aggressive real estate company with a national presence and Coldwell Banker Stevens, Realtors(R) is here to fill that void. The combination of cutting edge technology systems and the strength of 3,000 offices and 72,000 sales associates nationally bring a powerful force to this market. I am extremely excited about this growth, and we look forward to being able to provide home buyers and sellers in the greater Baltimore market area with the quality of service they expect and deserve," remarked Stevens.

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. While moving to No. 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.

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 35 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 located at 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.