RCI

Parsippany, NJ - Resort Condominiums International, LLC (RCI), a division of Cendant Corporation CD, announced today that Pestana Hotels & Resorts, one of the 50 most important European hoteliers, has signed an affiliation agreement to join the RCI Weeks exchange network.

Through this agreement, owners at Pestana three resorts, Carlton Rio Atlantica in Rio de Janeiro, Carlton Palms Angra Hotel in Angra dos Reis and Carlton Bahio Hotel in Salvador, Bahio will be able to select RCI weeks as their exchange provider, adding more choice to the industry's largest vacation exchange network. In addition to these, Pestana Hotel & Resorts has over 20 properties between Portugal and Mozambique, some of which are already registered into RCI's timeshare exchange system. Synonymous with excellence and high-level services, Pestana Hotels & Resorts are adding more quality and credibility to RCI, as well as to the Brazilian timeshare marketplace.

"The addition of Pestana's Brazilian Resorts to our exchange system is the biggest achievement for RCI in Brazil in the last 10 years," said Rubens Paes de Barros, general director, RCI Brazil. We will offer three more excellent exchange options to our customers, all the while strengthening timeshare's image in this region.

"RCI is delighted to add Pestana Resorts & Hotels first-rate Brazilian properties to our RCI Weeks network," said Ken May, president and CEO, RCI. "We are dedicated to growing the RCI Weeks exchange program by bringing additional quality resorts from around the globe, and this is a prime example."

About Pestana Hotels & Resorts

Pestana Hotels & Resorts, Portugal's largest hospitality group with 23 properties operating in some of the most sought after resorts Madeira, the Algarve, Cascais, Oporto, Lisbon, Mozambique and Brazil, is rapidly becoming an international player in the hotel industry. This dynamic hotel and leisure group, privately owned and managed by Dionisio Pestana, has grown rapidly over the last ten years, with the acquisition of a major hospitality consortium based in the Algarve and the opening of sixteen new hotels. Today, the Group has properties comprising 4.595 rooms and suites.

About RCI

Resort Condominiums International, LLC (RCI) is the world's leading global provider of products and services to the timeshare industry, with more than 3,700 affiliated resorts in 100 countries. In pursuit of its mission to be the market maker in global travel and leisure, RCI offers the world's leading timeshare exchange services through RCI Points, the first worldwide points-based exchange system, and RCI Weeks, RCI's traditional week-for-week exchange system. Last year, more than 2 million exchanges were confirmed through RCI, sending an estimated 7.5 million people on vacation. RCI provides integrated timeshare solutions in addition to exchange through RCI Market Links, including consulting, travel agency and technological support. To learn more, please visit our Web site at .

RCI is owned by Cendant Corporation CD, a global provider of business and consumer services.

Inna Shamis
Manager, External Communications
973-496-7021