Cendant Taps Sam E. Galeotos to Head Galileo International; Role Expands to Encompass Operational Responsibility For All Travel Distribution Businesses

The expansion of Galeotos' role will place all of Cendant's Travel Distribution businesses under one operating umbrella to maximize supplier and customer value, and to drive synergies and growth throughout Cendant's portfolio of travel brands and distribution services.

"This move will further integrate and drive value through our agency and distribution operations to best serve the needs of Cendant brands and our strategic marketing partners," said Samuel L. Katz, who will remain chairman and CEO of Cendant's Travel Distribution Division and chairman of Galileo. "This is a major step forward in strengthening Cendant's competitive position by reinventing Galileo as a preferred value-added, low-cost distributor.

"We are excited to have Sam assume this role. With his breadth of industry experience, demonstrated leadership to drive change, and respect throughout the travel community, he is the ideal person to lead this business," noted Katz.

"Sam Galeotos will facilitate our success in this sector, building on the progress we've made at Galileo to strengthen Cendant's travel value circle," said Henry R. Silverman, chairman and CEO of Cendant.

Galeotos joined Cendant in October 2001 as CEO of strategic distribution and travel services, following the Company's acquisition of Cheap Tickets, Inc., where Galeotos served as president and chief executive officer. Previously, Galeotos served as co-chief executive officer for Worldspan Travel Information Systems, a competitor of Galileo's, where he was responsible for global operations in the company's three major business lines: computer reservations, airline services and e-commerce. Galeotos joined Worldspan at the company's inception in 1990 as one of the founding executive team members. He left Worldspan in 1999 when he joined Cheap Tickets.

During his tenure at Worldspan, Galeotos served in a variety of leadership roles in sales, market development, operations and customer service. He also led a successful company-wide reengineering effort, helping to reposition Worldspan in the marketplace.

Prior to Worldspan, Galeotos worked for Delta Air Lines' DATAS II global distribution system, where he was responsible for automation sales, and also Dataslink, a subsidiary of Delta, which specialized in travel industry information and accounting systems.

"This is an invigorating opportunity because of the endless prospects that continue to emerge as our industry evolves in a new world and economic environment," said Galeotos. "Over the last year, I have worked closely with many industry leaders and partners to better understand their changing needs and interests, and I am eager to continue our dialogue to radically transform the traditional travel distribution paradigm.

"I believe Cendant is uniquely positioned to accomplish this because of our great portfolio of people and travel assets, and I am personally 'charged' by this new challenge," added Galeotos.

A native of Cheyenne, Wyo., Galeotos earned a bachelor's in Business Administration with dual majors in Accounting and Management Information Systems from the University of Arizona and is also a graduate of The Wharton School's Advanced Management Program at the University of Pennsylvania.

ABOUT CENDANT

Cendant Corporation is primarily a provider of travel and residential real estate services. With approximately 70,000 employees, New York City-based Cendant provides these services to businesses and consumers in over 100 countries. More information about Cendant, its companies, brands and current SEC filings may be obtained by visiting the Company's Web site at www.cendant.com or by calling 877-4-INFOCD (877-446-3623).

ABOUT CENDANT TRAVEL DISTRIBUTION DIVISION

Cendant's Travel Distribution Division is Cendant's newest division, formed in October 2001, following the Company's acquisitions of Galileo International and Cheap Tickets, Inc. The division employs more than 5,000 people around the globe. In the second quarter, the Travel Distribution Division accounted for approximately 12 percent of Cendant's revenues ($438 million) and 16 percent of its EBITDA ($130 million). The following businesses comprise the Travel Distribution portfolio:

Galileo International (www.galileo.com), acquired by Cendant in October 2001, provides electronic global distribution services for the travel industry through its computerized reservation systems, leading-edge products and innovative Internet-based solutions, connecting approximately 45,000 travel agency locations to 500 airlines, 33 car rental companies, 50,000 hotel properties, 368 tour operators and all major cruise lines throughout the world. Galileo is a value-added distributor of travel inventory dedicated to supporting its travel supplier, agency and corporate customers.

Highwire (), acquired by Galileo in October 2001, is a technology and services company providing online self-booking solutions to the corporate travel marketplace. Built on Galileo's XML Select(TM) structured data language, Highwire(TM) is a single-platform, corporate online booking solution allowing its customers to manage numerous preferred travel supplier agreements and extensive corporate travel policies while offering their employees unique user interfaces for selecting travel.

Shepherd Systems (), founded in 1983 and acquired by Galileo in November 1998, provides sales and marketing intelligence systems and services for the travel industry, including executive and sales management systems that integrate travel agent Global Distribution Service bookings (MIDT), flown revenue and Airline Reporting Corporation/Bank Settlement Plan sales data. The company's customers include more than 45 airlines around the world.

THOR, Inc. (), which became part of Cendant with the acquisition of Galileo in 2001, specializes in providing travel-related services to travel distributors and marketing and distribution opportunities to suppliers. THOR's printed Hotel Directory has 30,000 in circulation, and its Negotiated Rates Hotel Program, has more than 35,000 travel agency subscribers as well as additional participating travel agency groups and consortia under a private label.

TRUST International (www.trustinternational.com) acquired by Cendant in June 2002, is a leading provider of travel services that develops and implements state-of-the-art central reservation systems, providing tailor-made, real-time reservations and global distribution solutions for the hospitality industry. TRUST International's clients include approximately 1,300 hotels at 685 destinations in 95 countries.

WizCom International, Ltd. (www.wizcom.com), which became a wholly owned subsidiary of Cendant in 1996, is a leading global provider of electronic reservations processing and information management systems for the travel industry. WizCom provides its hotel, car rental, and tour / leisure travel customers with innovative, flexible and cost-effective electronic distribution and e-commerce solutions for the Internet, GDS and / or other travel reservation systems.

Trip Network, Inc. (including www.trip.com and ) is an independent affiliate of Cendant, which operates Trip.com and . These travel sites provide consumers a full selection of value options including air, car, hotel and resort accommodations, cruises, and vacation packages, with destination information and other travel resources. Trip Network's travel Web sites are supported by 24/7 customer sales and service.

Cendant Travel Services is Cendant's travel agency services operation, which operates eight contact centers, providing reservations and sales, ticketing and fulfillment, and preferred travel membership services for leading Cendant and affiliated brands.