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2004 Press Releases

ERA Franchise Systems LLC
1 Campus Drive
Parsippany, NJ 07054
(973) 428-9700
FOR IMMEDIATE RELEASE
Media contact: Steven Alessandrini
(973) 496-7904
steven.alessandrini@era.com

ERA REAL ESTATE RAISES IMPRESSIVE TOTAL IN 2003 FOR MUSCULAR DYSTROPHY ASSOCIATION
ERA® affiliates join together to raise $585,000 for national charity

PARSIPPANY, NJ, February 18, 2004 – Continuing its long time support of the Muscular Dystrophy Association (MDA), ERA Real Estate affiliates raised more than $585,000 in 2003 for this national charitable organization. This figure represents and increase of 36 percent from the previous year's total of approximately $430,000. This year's impressive contribution will be presented at the annual Jerry Lewis Labor Day Telethon, televised live from Los Angeles.

ERA® professionals across the country have been personally involved in supporting MDA since 1977, raising more than $30 million dollars. In fact, ERA Franchise Systems is proud to be the real estate industry's sole corporate sponsor of MDA. Every year, ERA® brokers and sales associates participate in all manner of fund-raising events, from walk-a-thons and bowl-a-thons to black-tie galas, silent auctions, golf tournaments, bake sales, garage sales and dinner theater shows to raise money for MDA.

"Once again, our brokers and sales associates across the country have simply outdone themselves," said P.J. Martin Smith, senior vice president, marketing, ERA Real Estate and national vice president of Muscular Dystrophy Association. "The amount raised in 2003 went significantly beyond the financial goals we set for this year, and truly underscores the commitment ERA Real Estate and its members makes to their communities."

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 26,000 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 LLC 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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