PHH Arval Wins CIO-100 Award for Second Time; PHH Honored for Innovative Business Practices and Services

    HUNT VALLEY, Md., Aug. 15 PHH Arval, a subsidiary of
Cendant Corporation , has received the prestigious CIO-100 Award
from IDG's CIO magazine for the second year in a row. The 2001 CIO-100
recognizes technology organizations around the world that excel in positive
business performance through innovative practices and products.
    "In order to survive in the competitive business world, companies rely on
innovative ideas and development of those ideas into sound business
processes," says Abbie Lundberg, Editor In Chief, CIO magazine. "Honorees of
this year's CIO-100 have done just that and are being recognized for their
ingenuity and success."
    A year ago, in 2000, PHH received the CIO-100 Award for its Internet site
for clients, PHH InterActive(R). This year's award recognizes PHH's ability to
leverage the technology behind PHH InterActive to create outstanding,
award-winning technology for its sister companies, Avis Rent-A-Car and Wright
Express, as well as its joint venture partner, Arval PHH in the United
Kingdom.
    Mickey Lutz, PHH Arval Senior Vice President and Chief Information
Officer, comments, "Most companies have difficulty creating their own
eCommerce applications without significant help from external `name brand'
consulting companies. PHH Arval has not only been able to build best-in-class
technology from within, but has leveraged internally-built tools and entire
applications to different businesses and technology platforms. We did this for
our sister companies, shortening their time-to-market from years to months
while cutting costs by more than 50%. Most important, the B2B technology we
created is bringing each business closer to its clients and significantly
adding value to their relationships."
    Complete coverage of the 2001 CIO-100 is featured in the August 15 issue
of CIO magazine and at http://www.cio.com.
    Other technology awards won by PHH Arval in the past two years:

    -- 2000 CIO-100 Award for outstanding customer relationship management
    This award honored organizations that demonstrated excellence, innovation,
    and improved business performance through the use of customer-oriented
    practices. PHH was one of 100 companies honored for "making the customer
    central to doing business and setting the benchmarks for others to
    follow."

    -- 1999 ComputerWorld Smithsonian Awards laureate medal
    This prestigious award recognized innovative uses of information
    technology that benefit society. PHH's groundbreaking data warehouse and
    Internet application, PHH InterActive(R), are officially included in the
    Smithsonian's ongoing efforts to chronicle the Information Age.

    -- 1999 CIO Web Business 50/50 Award
    PHH InterActive was honored for innovation and functionality well beyond
    the customary Web commerce practices to deliver outstanding business
    value.

    -- InfoWorld 100 for Innovators Leveraging Technology (1999)
    PHH was named a "forward-thinking company and IT decision-maker" and
    featured as one of 10 innovative companies that will "lead us to a
    brighter future."

    -- Information Week Top 100 E-Business Leaders (1999)
    PHH was chosen because it "exemplif(ied) three overarching characteristics
    essential to e-business success -- strong leadership, business vision, and
    the capability to execute on strategy."

    Founded in 1946, PHH Arval is one of the world's leading vehicle
management companies.  A subsidiary of Cendant Corporation , PHH
Arval provides integrated leasing, management and card payment solutions to
thousands of corporate, government and service-related fleets, including
nearly one-third of the Fortune 500 companies.  In conjunction with Arval PHH,
its joint venture partner in Europe, PHH Arval manages over a million vehicles
worldwide.  Through consultative expertise, flexible personalized service and
award-winning Internet technology, PHH helps clients reduce costs and increase
productivity.  For more information about PHH, call 1-800-ONLY PHH or visit
http://www.phh.com.

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