1998 Press Releases

ERA® Franchise Systems LLC 6 Sylvan Way Parsippany, NJ 07054 (201) 428-9700

Media contact: Jennifer Wieher (201) 359-5209 or jennifer.wieher@cendant.com

FOR IMMEDIATE RELEASE

Parsippany, NJ (February 18, 1998) – Finding a perfect house in the right neighborhood is every home buyers dream. Up to now, it has been very difficult for home buyers to get a true feeling of different neighborhoods without visiting them. However, ERA Real Estate brokers and agents are now able to help consumers find their dream neighborhood with a new program from Lysias Inc., Know The Neighborhood for ERA RealEstate. ERA provided this new CD-ROM startup disk at no cost to all domestic ERA offices in January.

Know The Neighborhoodis the newest, most convenient resource helping potential home buyers research neighborhoods across the country. A consumer-oriented version was also launched last week on the ERA Internet site at www.era.com. By simply entering the address or city onto the site, consumers will receive a limited neighborhood report which includes everything from crime rates and school ratings to income and cost of living. To receive a full report, the home buyer or seller must contact their local ERA office.

"Know The Neighborhood provides ERA offices nationwide another tool to offer to their local consumers," said Peter Burgdorff, ERA President and CEO. "This program demonstrates how ERA Real Estate is committed to assisting consumers with the home buying and selling process."

ERA offices that subscribe to receive program updates are able to offer detailed "Snap-Shot" reports for their customers. These reports include neighborhood comparisons and the following information on local neighborhoods:

• Housing - Home values, types of dwellings, cost of living.
• Schools - Number and locations of public and private schools, teachers, students, student-teacher ratios and annual funds spent per student.
• Neighborhood Demographics - Median incomes, occupations, adult education levels and ages of residents.
• Climate - Low, high and average temperatures for each month.
• Crime Rates - Statistics on neighborhood crime.
• Places of Worship - Location of churches and synagogues and other religious institutions.

ERA Franchise Systems LLC, a subsidiary of Cendant Corporation (NYSE: CD), is a leader in the residential real estate industry with over 25 years experience in developing consumer-oriented products and services. The ERA Real Estate network includes more than 2,600 independently owned and operated brokerage offices with more than 27,000 brokers and sales associates throughout the United States and 16 other countries. ERA is available to consumers on the Internet at www.ERA.com.

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