2003 Press Releases

ERA Franchise Systems LLC 1 Campus Drive Parsippany, NJ 07054 (973) 428-9700

Media contact: Stacy Quinn (973) 496-7904 stacy.quinn@ERA.com

FOR IMMEDIATE RELEASE 

PARSIPPANY, NJ, May 19, 2003 – In a tradition that has existed for more than two decades, ERA® brokers gathered in Charleston, S.C., last month for the President's Circle conference, a meeting that offered educational, networking and idea-sharing opportunities among the brand's leading brokers.

President's Circle, an invitation-only event open to the top 200 ERA brokers, featured an agenda that included idea-sharing sessions focused on profitability best practices, marketplace differentiation and brokerage growth. Professional development sessions complemented the exchange of ideas. These sessions, led by ERA brokers, targeted topics such as recruiting and retaining top talent, utilizing the brand's products and increasing the bottom line.

"President's Circle provided me with the opportunity to evaluate my company's strategies while learning about new systems to implement," said Larry Jones, broker, ERA Young Realty & Investment, Payson, Ariz. "It was an honor to be surrounded by so many quality brokers willing to help their peers by sharing their formulas for success."

In addition to learning techniques for sharpening management and business skills, brokers previewed several new products designed by ERA Real Estate to help affiliates recruit top sales professionals. These included a direct mail program, a business card-sized interactive CD-ROM and a step-by-step recruiting guide available to brokers on the brand's Intranet site.

Among the featured speakers was Bob Moles, president and CEO, Cendant Real Estate Franchise Group (ERA Real Estate is a subsidiary of Cendant Corporation; NYSE:CD), who addressed conference attendees about economic and industry trends, and answered questions from ERA brokers in a town hall format.

The top 50 ERA brokers were invited to a special dinner at the Citadel Beach House. Evening socials and a golf tournament provided conference attendees with several additional opportunities to network.

"ERA Real Estate is a company with momentum and this conference showcased that spirit," noted Tommy McIntosh, broker, ERA Trend Realty, Gainesville, Fla. "I walked away with a lot of good ideas on how to best utilize ERA products and services to further build my business."

About ERA Franchise Systems LLC
ERA Franchise Systems LLC is a global leader in the residential real estate industry with more than 30 years experience in developing consumer-oriented products and services. It is a subsidiary of Cendant Corporation (NYSE: CD) and part of its Real Estate Franchise Group. The ERA® real estate network includes more than 28,000 brokers and sales associates throughout the United States and 30 other countries and territories. Each office is independently owned and operated except offices owned and operated by NRT Incorporated. ERA® information is available to consumers at ERA.com. ERA® properties can also be viewed at Realtor.com. For additional information about ERA Franchise Systems, Inc. as well as expert commentary on emerging trends in the real estate industry, visit the Cendant Media Resource Center at http://www.cendant.com/media/.

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