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Press Release: Cendant Corporation
November 14, 2002
NEW YORK and ATLANTIC CITY, NJ -- Cendant Corporation (NYSE: CD) announced yesterday that its unit, Fairfield Resorts,
Inc., the world's largest vacation ownership company with more than 450,000 owners, has signed a new exclusive
strategic marketing alliance with three Atlantic City Trump hotel casinos. The agreement marks Trump's first entry
into the rapidly expanding timeshare industry, and will provide Fairfield Resorts with exclusive Atlantic City
sales and marketing locations to support vacation ownership interval sales of Fairfield's newly acquired Skyline
Tower timeshare resort.
In early 2003, Fairfield will begin marketing activities at each of Trump's Atlantic City hotel casino locations,
including the Trump Taj Mahal, Trump Plaza and Trump Marina, through a variety of channels including on-site kiosks,
in-room programs and co-branded promotions. In addition, Fairfield will construct and operate a 10,000 square-foot
sales center at the Trump Taj Mahal to preview its nationwide resorts, including ownership at Fairfield's Skyline
Tower resort, located nearby.
The new alliance is expected to boost leisure travel to Atlantic City and provide incremental guest generation
and casino traffic at Trump properties in the region. Fairfield, which markets vacation ownership products at resort
properties in 18 states and the U.S. Virgin Islands, will offer consumers attractive Atlantic City travel packages,
including hotel stays and entertainment offers at Trump locations. Current Fairfield owners, many of whom permanently
reside in the eastern U.S., may also soon enjoy the option of using their points-based FairShare Plus ownership
to secure room accommodations at Atlantic City Trump casino hotels, based on availability.
"We're pleased to partner with Fairfield Resorts, the leading player in the rapidly growing timeshare industry,"
said Donald J. Trump, Chairman of Trump Hotels & Casino Resorts, Inc. (THCR) "Timeshare owners are not
only some of the most resilient leisure travelers, but typically spend more on gaming and entertainment during
their vacations. We believe that increasing our exposure among timeshare owners will greatly benefit our business."
"Fairfield is proud to partner with Trump's hotel casino resorts in Atlantic City, as we believe this new
alliance will provide tremendous opportunities to jointly build our brands among new clientele," said Franz
S. Hanning, president and CEO, Fairfield Resorts. "We look forward to enabling our prospective and current
owners to enjoy the excitement of Atlantic City at exceptional Trump locations, while introducing thousands more
to the benefits of vacation ownership with Fairfield Resorts."
About Fairfield Resorts
Fairfield Resorts, Inc., with more than 450,000 owners, is the largest vacation ownership company in the world.
Fairfield Resorts specializes in the development, marketing and sales of innovative travel and leisure products,
including vacation ownership intervals at the company's 67 nationwide resorts. Fairfield Resorts was one of the
first U.S. developers to move from traditional fixed-week timeshare ownership to a points-based exchange program
with the launch of FairShare Plus in 1991. Fairfield Resorts, headquartered in Orlando, is a subsidiary of Cendant
Corporation (NYSE: CD - News), a diversified global provider of business and consumer services primarily within
real estate and travel. Other Cendant brands include Cheap Tickets, AVIS, Days Inn, Ramada, Century 21, Coldwell
Banker, and RCI. http://www.fairfieldresorts.com
About Cendant Corporation
Cendant Corporation is primarily a provider of travel and residential real estate services. With approximately
70,000 employees, New York City-based Cendant provides these services to businesses and consumers in over 100 countries.
More information about Cendant, its companies, brands and current SEC filings may be obtained by visiting the Company's
Web site at http://www.cendant.com or by calling 877-4INFO-CD
(877-446-3623).
About Trump Hotel Casino Resorts
THCR, through its wholly-owned subsidiaries, owns and operates Trump Plaza Hotel & Casino, Trump Taj Mahal
Casino Resort and Trump Marina Hotel Casino in Atlantic City, New Jersey, as well as Trump Indiana, a hotel and
riverboat casino at Buffington Harbor, Indiana on Lake Michigan. Also, THCR, through a wholly-owned subsidiary,
manages Trump 29 Casino located in the Palm Springs, California area. It is the exclusive vehicle through which
Donald J. Trump will engage in new gaming activities in both emerging and established gaming jurisdictions in both
the United States and abroad.
Source: Cendant Corporation