The New Jersey chapter of the National Black MBA Association has named Cendant Corporation (NYSE: CD) as its “Corporate Partner of the Year” for 2002. The award recognizes Cendant for its support of the organization’s effort to create intellectual and financial wealth in the black community. The award was presented at a reception held December 12 at Cendant Corporation’s New Jersey headquarters.

Established in 1970, the association has 6,000 members in 39 chapters nationwide and maintains partnerships with more than 400 of the country’s top business organizations in the public and private sectors. These partnerships are designed to support the association’s three cornerstones: education, employment and leadership.
“Cendant has demonstrated a serious commitment to our organization and supports diversity with meaningful deeds, not just words,” said New Jersey chapter President Raphael Sebastian. “A member of our family of corporate partners, Cendant supports chapter meetings and programs, sponsors special events and, most importantly, aggressively pursues our members for employment opportunities.”

“Recognizing and appreciating diversity is a business imperative and one of Cendant Corporation’s core values,” said Terry Conley, executive vice president, Human Resources. “Our alliances with professional organizations such as the National Black MBA Association are critical to our ability to deliver value to our customers and maintain our leadership position in the real estate and travel industries.”
“As we continue to grow, it is ever more important that the diversity of our workforce reflects that of the people and markets we serve. This award demonstrates the progress we have made and inspires us to stay the course. On behalf of the employees of Cendant Corporation, we are proud to receive this honor.”
About Cendant Corporation:
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 business 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 http://www.cendant.com or by calling 877-4-INFOCD (877-446-3623).

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