PHH InterActive(R) Dashboard Radically Simplifies Fleet Reporting and Trend Analysis

New tool first to provide three years of performance data; saves fleet managers three working days per month

SPARKS, Md., Nov. 1 -- PHH Arval, a subsidiary of PHH Corporation , has introduced PHH InterActive Dashboard, a state-of-the-art information management tool that radically simplifies fleet management reporting. This all-new capability summarizes information drawn from the fleet industry's most comprehensive data warehouse and presents it in clear charts and graphs, enabling fleet managers and other key executives to understand complex fleet data quickly and easily.

PHH InterActive Dashboard is the first and only fleet dashboard application that:

   -- Provides three years of comprehensive information on key performance
      indicators and fleet expenses, enabling important analyses of fleet
      trends.
   -- Provides access to fleet billing, inventory and fuel purchases, with
      vehicle ordering and used vehicle sales information available by the
      end of the year in this first release.
   -- Allows users to view their data using a variety of filters, and choose
      to see information on their entire fleets or subsets.
   -- Enables divisional and regional managers who have access to PHH
      InterActive to see their own divisions' Dashboards.

PHH estimates that Dashboard will save fleet managers at least 24 hours per month - three full working days - in downloading, summarizing and analyzing fleet data. Clients who have been beta-testing the new capability cite the benefits of having summarized, easy-to-comprehend information immediately available; the ease of communicating this information to senior managers and individual business units; and the ability to simplify quarterly, semi-annual, and annual fleet review preparation.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are subject to known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans," "may increase," "may fluctuate" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could" are generally forward-looking in nature and not historical facts.

You should consider the areas of risk described under the heading "Forward-Looking Statements" in our periodic reports under the Securities Exchange Act of 1934 as amended, and those risk factors included as Exhibit 99 thereto titled "Risk Factors Affecting our Business and Future Results," in connection with any forward-looking statements that may be made by us and our businesses generally. Except for our ongoing obligations to disclose material information under the federal securities laws, we undertake no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events unless required by law.

About PHH Arval

PHH Arval is the second largest commercial fleet management company(2) in North America. PHH Arval provides outsourced fleet management solutions to corporate clients, including nearly one-third of the Fortune 500 companies, and government agencies. Through consultative expertise, flexible customer service, and award-winning Internet technology, PHH Arval helps clients reduce costs and increase productivity. For more information, visit http://www.phharval.com/, or call 800 ONLY PHH.

About PHH Corporation

Headquartered in Mount Laurel, New Jersey, PHH Corporation is a leading outsource provider of mortgage and vehicle fleet management services. Its subsidiary PHH Mortgage is one of the top ten retail originators of residential mortgages in the United States(1), and its subsidiary PHH Arval is the second largest fleet management services provider in the United States and Canada(2). For additional information on the company and its subsidiaries please visit http://www.phh.com/.

(1) Inside Mortgage Finance, August 2005

(2) Automotive Fleet Fact Book, June 2005