NEW YORK -- Cendant Corporation [NYSE: CD] today announced it has named Terence (Terry) P. Conley as senior vice president, human resources. He joins Cendant from the PepsiCo organization, following ten years with several PepsiCo units including Kentucky Friend Chicken, Frito-Lay, Inc. and Pepsi-Cola Company. Conley will report to Thomas D. Christopoul, the Company's executive vice president, human resources.

Conley, 35, most recently served as vice president, human resources for Purchase, NY-based Pepsi-Cola Company. He also held a corporate staff position as director of human resources for PepsiCo, Inc. from 1994 through 1996. He served as a regional director of HR for Frito-Lay from 1996 to 1998. Conley joined the PepsiCo organization in 1990 as a human resources manager for Kentucky Fried Chicken and was promoted to human resources director at KFC in 1992. Prior to joining PepsiCo, Conley held various HR positions at R.H. Macy Company.

"Terry Conley brings to Cendant more than fifteen years of human resources experience," Christopoul said. "While at PepsiCo, Terry made significant contributions to that company's beverage, snack food and restaurant divisions in both strategic and operational roles. Terry's proven leadership is expected to result in an immediate positive impact on the corporate human resources function."

Conley received a BA in management and marketing from NYU in 1985. He resides in the New York City area with his wife and son.

Cendant Corporation is a global provider of consumer and business services. The Company's core competencies include building franchise systems, providing outsourcing solutions and direct marketing. As a franchisor, Cendant is the world's leading franchisor of hotels, rental car agencies, tax preparation services and real estate brokerage offices. The real estate segment also includes Welcome Wagon/GETKO and the Company's soon-to-be created residential real estate services portal on the Internet. As a provider of outsourcing solutions, Cendant is the world's largest vacation exchange service; a major provider of mortgage services to consumers and the global leader in employee relocation. In direct marketing, Cendant provides access to insurance, travel, shopping, auto, and other services, primarily to customers of its affinity partners. Other business units include NCP, the UK's largest private car park operator, and Wizcom. Headquartered in New York, NY, the Company has more than 30,000 employees and operates in over 100 countries. More information about Cendant, its companies and brands may be obtained by visiting our Web site at www.cendant.com or by calling 877-4INFO-CD (877-446-3623).