Cendant Announces Hurricane Relief Efforts

Global Travel & Real Estate Leader Focusing on Locating Unaccounted for Employees

WASHINGTON, Sunday, September 04, 2005 — NEW YORK – September 2, 2005 – Cendant Corporation (NYSE: CD) today announced a series of relief initiatives in the wake of Hurricane Katrina.

"Our top priority today is to locate approximately 500 employees who we have not yet been able to reach, and to provide whatever assistance we can," said Henry R. Silverman, Cendant chairman and CEO. "We have also begun to move forward with plans to assist in the rebuilding effort within the region."

Key initiatives underway include:

• Establishment of a special employee hotline (1-866-827-2347) to coordinate distribution of pay and other benefits to employees in the hurricane regions. Efforts are underway to locate available temporary housing for employees within Cendant’s hotel affiliates, corporate timeshare resort locations and timeshare exchange resort affiliates.
• A special fundraising campaign has been launched on behalf of the American Red Cross (ARC) Hurricane 2005 Relief Fund. The Cendant Charitable Foundation will be matching employee donations up to an aggregate $500,000.
• Cendant business units are displaying banner ads soliciting consumer donations to the ARC on its consumer booking Web sites, such as Orbitz.com, DaysInn.com, Avis.com, RCI.com (U.S. section), and ColdwellBanker.com.
• Cendant’s Car Rental Group, Hotel Group and Timeshare Resort Group are all working with the Federal Emergency Management Agency (FEMA), the Department of Homeland Security and the American Red Cross to provide assistance including access to housing and rental vehicles for emergency response personnel moving into the area to coordinate relief efforts.
• The company is also reviewing all possible opportunities to aid in the relief efforts through its Real Estate and Travel Distribution Services divisions.

About Cendant Corporation

Cendant Corporation (NYSE: CD) is primarily a provider of travel and residential real estate services. With approximately 85,000 employees, New York City-based Cendant provides these services to business and consumers in over 100 countries. With 2004 revenues of approximately $20 billion and assets of more than $40 billion, the company ranked 107 on the 2005 Fortune 500 listing.