PHH Arval Wins CIO-100 Award for Second Time; PHH Honored for Innovative Business Practices and Services

Press Release: PHH Arval
August 16, 2001
HUNT VALLEY, MD -- PHH Arval, a subsidiary of Cendant Corporation (NYSE: CD), has received the prestigious CIO-100 Award from IDG's CIO magazine for the second year in a row. The 2001 CIO-100 recognizes technology organizations around the world that excel in positive business performance through innovative practices and products.

``In order to survive in the competitive business world, companies rely on innovative ideas and development of those ideas into sound business processes,'' says Abbie Lundberg, Editor In Chief, CIO magazine. ``Honorees of this year's CIO-100 have done just that and are being recognized for their ingenuity and success.''

A year ago, in 2000, PHH received the CIO-100 Award for its Internet site for clients, PHH InterActive®. This year's award recognizes PHH's ability to leverage the technology behind PHH InterActive to create outstanding, award-winning technology for its sister companies, Avis Rent-A-Car and Wright Express, as well as its joint venture partner, Arval PHH in the United Kingdom.

Mickey Lutz, PHH Arval Senior Vice President and Chief Information Officer, comments, ``Most companies have difficulty creating their own eCommerce applications without significant help from external `name brand' consulting companies. PHH Arval has not only been able to build best-in-class technology from within, but has leveraged internally-built tools and entire applications to different businesses and technology platforms. We did this for our sister companies, shortening their time-to-market from years to months while cutting costs by more than 50%. Most important, the B2B technology we created is bringing each business closer to its clients and significantly adding value to their relationships.''

Complete coverage of the 2001 CIO-100 is featured in the August 15 issue of CIO magazine and at www.cio.com.

Other technology awards won by PHH Arval in the past two years:

2000 CIO-100 Award for outstanding customer relationship management
This award honored organizations that demonstrated excellence, innovation, and improved business performance through the use of customer-oriented practices. PHH was one of 100 companies honored for "making the customer central to doing business and setting the benchmarks for others to follow."

1999 ComputerWorld Smithsonian Awards laureate medal
This prestigious award recognized innovative uses of information technology that benefit society. PHH's groundbreaking data warehouse and Internet application, PHH InterActive, are officially included in the Smithsonian's ongoing efforts to chronicle the Information Age.

1999 CIO Web Business 50/50 Award
PHH InterActive was honored for innovation and functionality well beyond the customary Web commerce practices to deliver outstanding business value.

InfoWorld 100 for Innovators Leveraging Technology (1999)
PHH was named a "forward-thinking company and IT decision-maker" and featured as one of 10 innovative companies that will "lead us to a brighter future."

Information Week Top 100 E-Business Leaders (1999)
PHH was chosen because it "exemplif(ied) three overarching characteristics essential to e-business success - strong leadership, business vision, and the capability to execute on strategy."

Founded in 1946, PHH Arval is one of the world's leading vehicle management companies. A subsidiary of Cendant Corporation (NYSE: CD), PHH Arval provides integrated leasing, management and card payment solutions to thousands of corporate, government and service-related fleets, including nearly one-third of the Fortune 500 companies. In conjunction with Arval PHH, its joint venture partner in Europe, PHH Arval manages over a million vehicles worldwide. Through consultative expertise, flexible personalized service and award-winning Internet technology, PHH helps clients reduce costs and increase productivity. For more information about PHH, call 1-800-ONLY PHH or visit www.phh.com.

SOURCE: PHH Arval