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Cendant and IBS Form Alliance

16 August 2004 Press Release Airline News

Cendant Travel Distribution Services (TDS), a division of Cendant Corp. , and IBS Software Services, a leader in software solutions and services to the global travel, transportation and logistics industry, today announced the formation of a business alliance to jointly market “iRes”. “iRes” is IBS’s innovative new technology designed to replace less flexible, more expensive “legacy” Passenger Services Systems and dramatically improve airlines’ efficiencies, profitability, service quality, and ability to respond more quickly to market changes. The alliance is part of TDS’s commitment to expanding the services and products it provides to airlines to enable them to compete more effectively in the evolving travel industry.

Cendant Distribution Services Acquires Flairview Travel

2 April 2004 Press Release Hotel News

Cendant Corporation today announced that its Travel Distribution Services (TDS) division has acquired Sydney, Australia-based Flairview Travel, a leading online hotel distributor that specializes in the distribution of international hotel content throughout Europe and the Asia Pacific region through its merchant hotel brand, and its last minute Web site, Established in 1995, Flairview Travel is one of the market- leading online accommodation providers in the Asia Pacific region, with a rapidly increasing presence throughout Europe. This acquisition enhances Cendant TDS’s growing global travel portfolio, and accelerates the planned international expansion of its online travel offerings. Terms of the cash acquisition were not disclosed, but are not material to Cendant. The transaction is not expected to have a material impact on future company earnings.

Cendant Travel Distribution Completes Integration of Galileo

26 September 2002 Press Release Travel Technology News

In a move to further leverage the strengths of Galileo International and its affiliated travel distribution brands, Cendantå‘s Travel Distribution Services Division unveiled a new integrated operating structure aligned around key customer segments, and announced its new senior management team.

Cendant to Acquire Trust International from Bertelsmann Arvato AG

26 June 2002 Press Release Hotel News

New York, NY and Gütersloh, Germany 06-25-2002—Cendant Corporation (NYSE: CD) and Bertelsmann Arvato AG today announced that they have signed a definitive agreement for Cendant to acquire TRUST International, a subsidiary of Bertelsmann. The transaction is not material to either Cendant or Bertelsmann and terms were not disclosed.