United Technologies Corporation Names PHH Arval 2006 General Procurement Key Supplier of the Year

Alignment with UTC business strategies and focus on metrics and continuous improvement cited as keys to PHH Arval win

SPARKS, Md., Oct. 31 -- PHH Arval, a subsidiary of PHH Corporation , has been chosen for a "2006 General Procurement Key Supplier of the Year" award by United Technologies Corporation. PHH Arval has provided fleet management services to UTC and its business units for over 24 years.

UTC has corporate contracts with approximately 240 suppliers of indirect goods and services, including information technology, telecommunications, transportation and logistics, and fleet vehicles. For the first time, UTC implemented a formal recognition process for strategic key suppliers. The UTC supplier performance scorecard measurement criteria focus on cost savings, service delivery, quality, and customer satisfaction.

In presenting PHH Arval with this award, representatives from UTC cited PHH Arval's ongoing support, continuous process and productivity improvements, industry expertise, and consistent performance.

Susan Spence, Director of General Procurement at UTC Corporate, said, "UTC is focused on measuring supplier performance in order to ensure high levels of quality and delivery for all of the business units. ACE (Achieving Competitive Excellence) is the operating system that defines UTC's culture and is one of the driving forces behind UTC's commitment to delighting customers through strategic supplier partnerships." PHH Arval aligned performance metrics with UTC's business strategies and goals, focused on continuous improvement through its Rally to Results (R2R) program, and delivered a variety of best practices and product innovations to enhance productivity and reduce costs.

George Kilroy, President and CEO of PHH Arval, said, "We are honored by this prestigious award from UTC, which has a long-standing reputation for its supplier partner initiatives and recently received its own recognition in Purchasing magazine for its outstanding supply chain management. We consider ourselves partners with UTC, work with all of UTC's business units to help drive fleet productivity and performance, and view their success as our success."

About United Technologies Corp.

United Technologies Corp., based in Hartford, Connecticut, is a diversified company that provides a broad range of high-technology products and support services to the building systems and aerospace industries.

About PHH Arval

PHH Arval is the second-largest fleet management services provider(1) in the United States and Canada combined. 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(2), and its subsidiary PHH Arval is the second-largest fleet management services provider(1) in the United States and Canada combined. For additional information on the company and its subsidiaries, please visit http://www.phh.com/.