Cendant Authorizes Share Repurchase

Cendant Corporation (NYSE: CD) today announced that its Board of Directors has authorized a $500 million increase in the Company`s share repurchase program.Ê The increase is consistent with Cendant`s previously stated strategy of utilizing approximately 25% of its available cash on an annual basis to repurchase the Company`s common stock.Ê

Cendant Corporation is primarily a provider of travel and residential real estate services. With approximately 90,000 employees, New York City-based Cendant provides these services to businesses and consumers in over 100 countries.