Cendant Travel Distribution Services, IBS Software Services Reach Agreement to Develop and Promote 'iRes' to Global Airline Industry

Under the agreement, IBS will have primary responsibility for product development and support, and Cendant TDS will have primary responsibility for product management, sales, marketing, and customer relationships. IBS will continue to develop the "iRes" application suite, and provide software maintenance and support services to "iRes" customers; while Cendant TDS will manage the worldwide rollout and promotion of "iRes," and provide hosting services in an application service provider (ASP) environment.

"iRes" is an innovative integrated system utilizing a new generation of technology developed by IBS, which efficiently and comprehensively addresses the full range of business functions that airlines typically manage through Passenger Service System technology -- including passenger reservations, check-in, baggage control, inventory control, fares, ticketing, and flight control. The open architecture platform of this new technology is easy to customize and has the flexibility to support the business models of all sizes of carriers, from low-fare carriers to full-service airlines. The technology enables airlines to integrate their distribution channel with other travel services such as car rentals and hotels.

"iRes" can also enhance an airline's revenue-earning potential by providing sophisticated inventory and yield-management capabilities. The multi-hosting capabilities of the technology effectively support ASP operations as well as stand-alone, in-house operations. Unlike legacy applications, "iRes" enables airlines to easily make changes and provides flexibility to quickly respond to changing market conditions. In addition, it is substantially less expensive to own, operate and maintain, allowing the savings to go to the bottom line.

Flo Lugli, senior vice president, Airline Solutions, for TDS said, "The airline industry has long needed a new Passenger Services System that more effectively supports rapidly changing business processes and evolving business models that can give airlines the ability to innovate. 'iRes' meets these needs superbly."

According to Lugli, the legacy applications developed over the last 40 years are expensive to operate and maintain, as well as difficult and time consuming to alter. In addition, even current providers of hosting solutions to low-fare carriers are struggling with legacy architecture issues. "We are delighted to offer this innovative technology to the airline industry as a way to help carriers successfully respond to constantly changing consumer needs and the continued evolution of their business models. 'iRes' world-class technology and architecture, supported by the IBS CMM Level 5 certified processes, far surpasses any solution available today, and enables airlines to move to new innovative business processes and away from outdated business models, while reducing costs and improving service quality. "

In addition to "iRes," Cendant TDS offers a host of products and services that provide competitive advantages to airlines. These include Galileo's 360 degree Fares, the world's premier in-house fare-quote service for airlines, and Reservation Sales Solution, a technology which enables airlines to connect to the reservation systems of nearly 300 other airlines through Galileo for instant and secure reservations, seat assignments and other special travel-related services, as well as leading business intelligence solutions through Shepherd Systems.

V. K. Mathews, chairman and managing director of IBS, said the alliance represented a realization of the strategic partnership the company had envisioned as a way to fulfill its global mission for "iRes": "Our vision is to make 'iRes' the Passenger Services System of the future for airlines. To do that, we needed a strong partner in the travel industry to help us promote and establish 'iRes' as the leading technology. Cendant TDS fills this role exceptionally well. Our domain expertise, technological competence and resource strength, coupled with TDS's global presence, customer relationships and credibility in the airline industry, will make this alliance particularly rewarding."

Lugli said, "We comprehensively researched a more flexible, more responsive solution that could continue to evolve with the airline industry. In addition, we considered a number of potential business partners who could partner with us to bring such a solution to market. It was IBS's world-class technology and CMM Level 5 certification that led us to conclude IBS was the right partner."

"iRes" is being developed and released in stages through three major product releases- with the first release already available to the market. TDS is already in discussions with several of the industry's leading low-fare carriers to become the launch customer for "iRes."

Lugli added, "We believe that hosting remains a viable component of the travel distribution business and we will continue to explore ways to present a strong value proposition to airlines. Through our longstanding partnership with United Airlines, we have extensive experience in hosting and are pursuing a strategic path of investment and expansion that will enable us to provide solutions to carriers of all sizes, from traditional full-service airlines to the growing class of low-fare carriers."

About Cendant Travel Distribution Services
Cendant Corporation's (NYSE: CD - News) Travel Distribution Services Division, is one of the world's largest and most geographically diverse collections of travel brands and distribution businesses. The division, employing nearly 5,000 people in more than 116 countries, includes: Galileo, a leading global distribution system (GDS), serving more than 44,000 travel agencies and over 60,000 hotels; hotel distribution and services businesses (TRUST, THOR, WizCom and Neat Group); leading online travel agencies (CheapTickets.com, Lodging.com, HotelClub.com and RatesToGo.com); Shepherd Systems, an airline market intelligence company; Travelwire, an international travel technology and software company; Travel 2/Travel 4, a leading international provider of long-haul air travel and travel product consolidator; and Travelport, a provider of online global corporate travel management solutions.

About IBS Software Services
IBS Software Services is a world-class provider of software solutions fine-tuned to the needs of the global travel, transportation and logistics business domains, in the air transportation, shipping, and oil and gas sectors. IBS manages a network of business operations worldwide through group companies in Atlanta, London, Zurich, Dubai, Sydney, Singapore and Trivandrum. IBS's portfolio of services includes business consulting, technology consulting, application products, turnkey projects, software development, application maintenance and other specialties. IBS's global clientele includes major corporations such as the British Airports Authority, Air Canada, Emirates, Dubai Airport, Swiss, Qantas, SITA, EDS, Shell, GulfShare and Qatar Airways. More information about IBS can be found on the web at .