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Cendant's Board of Directors Declares Regular Quarterly Cash Dividend of $0.07 Per Common Share

Press Release: Cendant Corporation
April 21, 2004
NEW YORK, NY -- Cendant Corporation's (NYSE: CD) board of directors yesterday declared its regular quarterly cash dividend of $0.07 per common share, payable June 15, 2004 to stockholders of record on May 24, 2004.

About Cendant Corporation

Cendant Corporation is primarily a provider of travel and residential real estate services. With approximately 90,000 employees, New York City-based Cendant provides these services to business 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 877-4-INFOCD (877-446-3623).

Source: Cendant Corporation