Press Release: Century 21 Real Estate Corporation
September 11, 2001
PARSIPPANY, NJ -- Century 21 Real Estate Corporation will play host to 10 government officials and business leaders
from the People's Republic of China next week as the group visits the United States to learn more about the practices
in the American residential real estate industry.
Led by officials from the national Ministry of Construction, the Municipal Housing and Land Administrative Bureau
of Shanghai, the Land & House Property Administrative Bureau of Qingdao and the Real Estate Administration
of Hangzhou, the delegation will visit Century 21 Real Estate Corporation world headquarters in Parsippany, NJ
on Tuesday, September 11. There, the group will discuss brokerage operation issues with Century 21 management.
Later that day, the delegation will head to Mount Laurel (NJ) to learn about mortgage origination and processing
at the headquarters of Cendant Mortgage.
``Century 21 Real Estate Corporation is honored to welcome the Chinese delegation to the United States,'' said
Van Davis, president & COO, Century 21 Real Estate Corporation. ``Historic change is enabling the creation
of a real estate industry in China where, until recently, ownership of one's home was virtually impossible. That
change led to last year's opening of the first CENTURY 21® franchise office in Beijing, China and made possible
this unique opportunity to share our vision of professional real estate brokerage operations with those who are
building an industry.''
In 2000, then Century 21 President and CEO Robert Moles, visited China to meet with Chinese officials and to celebrate
the opening the brand's first franchised office in China. Moles is now President and CEO of the Cendant Real Estate
Franchise Group and will be among those welcoming the delegation. ``My visit to Beijing gave me the opportunity
to see the beginnings of the residential real estate industry in China,'' Moles said. ``As the first to have franchised
brokerages there, Cendant and Century 21 are uniquely positioned to benefit as hundreds of thousands of housing
units once owned by the Chinese government are transacted by the people of China.''
Century 21 Real Estate Corporation (http://www.century21.com) is franchisor
of the world's largest residential real estate sales organization, providing comprehensive training, management,
administrative and marketing support for the CENTURY 21® System. The System is comprised of more than 6,600
independently owned and operated franchised broker offices in more than 28 countries and territories worldwide.
Century 21 Real Estate Corporation is a subsidiary of Cendant Corporation (NYSE: CD). Also find our listings on
REALTOR.com.
About Cendant Corporation
Cendant Corporation is primarily a provider of travel and residential real estate services. With approximately
57,000 employees, New York City-based Cendant provides these services to businesses and consumer 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).
SOURCE: Century 21 Real Estate Corporation