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

PARSIPPANY, NJ, March 26, 2004 – ERA Real Estate honored several affiliates for their fundraising efforts in support of the Muscular Dystrophy Association (MDA) at a special ceremony during the ERA® 2004 International Business Conference held recently in Las Vegas.

"ERA is extremely proud of the ongoing commitment to MDA displayed by our network of affiliates," said P.J. Martin Smith, senior vice president of marketing for ERA Real Estate and national vice president for MDA. "At our annual ceremony, we have the opportunity to place the spotlight on the exceptional members of our ERA family who have gone above and beyond to support the fight against neuromuscular diseases."

Jack Gaughen Realtor ERA of Camp Hill, Pa., was recognized as the Ed Bilinkas Memorial Award winner, an annual honor given to the ERA company that raised the most funds for MDA. The award is named in memory of an ERA broker who displayed a tireless commitment to supporting MDA. Jack Gaughen Realtor ERA raised nearly $33,000 in 2003 by hosting a hugely successful golf tournament, bake sales and various auctions.

Jim Grandon, president of Jack Gaughen Realtor ERA, was on hand to accept the award. "It is a wonderful feeling to know that the money we raised is going to such a worthy organization," said Grandon. "Our goal is to win this award again next year, because we believe there is no better cause anywhere than to help people with disabilities."

Other finalists for this year's Ed Bilinkas Memorial Award included ERA Freeman & Associates, Realtors of Gresham, Ore.; ERA Jose S. Castelo Real Estate of Bedford, Mass.; ERA Pacesetter Partners of Brentwood, Tenn.; and ERA Top Service Realty of Queens Village, N.Y.

New to this year's ceremony was the presentation of the Mattie J.T. Stepanek Broker Council Award. This honor, given to the ERA broker council that raised the most funds during the year, went to the New York Metro Broker Council, which raised almost $50,000 for MDA in 2003. This award-winning group is comprised of ERA A.J. Real Estate in Richmond Hill; ERA Caputo Realty in New Hyde; ERA Top Service Realty in Woodhaven; and ERA Elect Realty, ERA Peskin Realty and ERA Real Estate Professionals, all three in Brooklyn.

Mattie J.T. Stepanek, the inspirational teen poet and author, will once again serve as the National Goodwill Ambassador for MDA in 2004.

As the sole corporate sponsor from the real estate industry, the ERA network raised a total of more than $585,000 for MDA in 2003 and more than $30 million to date. The company has consistently been among the top contributors to the organization each year. Funds raised by ERA affiliates throughout the year become part of the final amount presented to the charity during the annual Jerry Lewis MDA Labor Day Telethon.

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 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/.