Corporate Profile for NRT Incorporated, dated August 27, 1999.

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Published Date:   August 27, 1999

Company Name:     NRT Incorporated

Address:          6 Sylvan Way,
                  Parsippany, NJ
                  07054

Main Telephone
 Number:          973/496-5700

Internet Home
 Page Address
  (URL)           www.nrtinc.com

Chief Executive
 Officer:         Bob Becker

Chief Financial
 Officer:         Greg Hunt

Investor Relations
 Contact:         Jim Huseby
 Business number: 973/496-4980

Public Relations
 Contact:         Chris Laureys
 Business number: 973-496-4948

Industry:         Real Estate

Trading Symbol/
 Exchange:        N/A

Company description: NRT Incorporated is the nation's largest residential real estate brokerage with more than 700 offices in 21 metropolitan markets across the U.S. and annual sales volume five times that of its nearest competitor.

NRT's formation can be traced to May 1996, when HFS Incorporated (now Cendant Corporation) purchased Coldwell Banker Corporation. To remain a pure franchisor, HFS created an independent "National Realty Trust" to own the 370 brokerage offices then owned by Coldwell Banker. Given its new relationship with HFS, all companies acquired by National Realty Trust became affiliated with one of three HFS brands: COLDWELL BANKER(R), ERA(R) and CENTURY 21(R).

To facilitate faster acquisition growth than a trust could accommodate, HFS and Apollo Management L.P. formed "NRT Incorporated" in August 1997 and committed approximately $700 million in funding for acquisitions. (An additional $1 billion in acquisition capital was subsequently committed.)

As of August 1999, NRT had acquired 100 brokerages ranging in size from one office to 70. With a pro forma '98 GCI of approximately $2.4 billion on more than $84 billion in sales for the year, the company now has the No. 1 or No. 2 position in each of its local markets.

Those markets, ranked by population size, are as follows:

Greater New York/New Jersey/Connecticut, Los Angeles, Chicago, Baltimore/Washington D.C., San Francisco, Boston, Dallas/Forth Worth, Atlanta, Minneapolis, Miami, Tampa Bay/Sarasota, Sacramento, Pittsburgh, St. Louis, Denver, San Diego, Orlando, Portland, Milwaukee, Cincinnati and Harrisburg.