Chuck Fallon Appointed Avis Executive Vice President of Sales

     To Head All Sales Functions at Rental Car Company as Avis Continues
                     Integration Into Cendant Corporation

    PARSIPPANY, N.J., Sept. 4 Chuck Fallon, an executive with
a wide background in sales, operations and finance, has been named executive
vice president of sales for Avis Rent A Car System, Inc., a wholly owned
subsidiary of Cendant Corporation.
    "As we continue our next stage of growth, Chuck brings a very strong
background to help move our sales organization ahead in a competitive
environment," said F. Robert Salerno, president and chief operating officer of
Avis.  "Chuck's deep ties within the corporate community and energetic sales
skills will bring an extra dimension to our sales efforts."
    In his new post, Fallon will lead all Avis corporate sales functions,
overseeing regional sales operations, international sales, travel industry
sales, corporate pricing and sales development.  He succeeds Thomas Byrnes,
senior vice president of sales, who is retiring after a distinguished career
of more than 30 years at Avis.
    Fallon comes to Avis from Cendant Corporation, the company that acquired
Avis on March 1.  He was most recently chief operating officer of Cendant
Membership Services, Cendant's former $700 million direct marketing unit, and
was instrumental in executing the recent management buy-out of Cendant
Membership Services by Trilegiant Corporation.
    Fallon first joined Cendant in 1998 with direct responsibility for the
Preferred Alliance Group and Cendant Supplier Services.  As head of the
Preferred Alliance Group, Fallon led a sales and marketing team that generated
more than $100 million in annual profit from blue chip corporate partners.
    Prior to joining Cendant, Fallon was a director in the investment banking
division of Solomon Smith Barney, where he served in posts in London and New
York.  He has also worked in finance and banking positions for Hoare Govett
and Prudential-Bache Capital Funding.
    Fallon graduated with a BBA in Accounting and Finance from McMurry
University in Abilene, TX and earned an MBA from Columbia University.
    Avis Rent A Car System, Inc. and its subsidiaries operate the world's
second largest general-use car rental business, providing business and leisure
customers with a wide range of services at more than 1,650 locations in the
United States, Canada, Australia, New Zealand and the Latin/American Caribbean
region.  Avis is recognized as the industry leader in applying new
technologies to grow its business and is one of the world's top brands for
customer loyalty.  In April 2001, Avis tied for first place in customer
satisfaction for business travelers in the J.D. Power and Associates survey of
car rental companies.  The company is a wholly owned subsidiary of Cendant
Corporation , a diversified global provider of business and consumer
services primarily within the real estate and travel sectors.
    For additional information and news about Avis, please log onto the Avis
Web Site (http://www.avis.com).

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