Press Release: Cendant Corporation
March 1, 2001
NEW YORK, NY -- Cendant Corporation (NYSE: CD) yesterday announced that RCI Europe, a wholly-owned subsidiary,
completed its previously announced acquisition of RCI Southern Africa Ltd. The transaction is expected to be immediately
accretive to Cendant's earnings per share and cash flow.
RCI Southern Africa Ltd operates in the timeshare exchange industry in southern Africa, Australia, New Zealand
and Fiji. RCI has more than 180,000 members in South Africa and 50,000 members in the Pacific region.
About RCI
RCI is the world's leading timeshare-exchange company with more than 3,600 affiliated resorts in 93 countries.
In 1999, RCI booked more than 2 million exchanges, sending an estimated 7.5 million people on vacation. As a single-source
resource of integrated timeshare solutions, the company's services include feasibility analysis, market research,
technological support and lead-generation strategies along with club development and operations. RCI is a subsidiary
of Cendant Corporation.
About Cendant Corporation
Cendant Corporation is a diversified global provider of business and consumer services primarily within the real
estate and travel sectors. The Company's core competencies include building franchise systems and providing outsourcing
services. Cendant is among the world's leading franchisers of real estate brokerage offices, hotels, rental car
agencies, and tax preparation services. Cendant is also a provider of outsourcing solutions to its business partners
including mortgage origination, employee relocation, customer loyalty programs and vacation exchange services.
Other business units include NCP, the UK's largest private car park operator, and WizCom, an information technology
services provider. With headquarters in New York City, the Company has approximately 28,000 employees and operates
in over 100 countries.
More information about Cendant, its companies, brands and current SEC filings may be obtained by calling 877-4INFO-CD
(877-446-3623) or by visiting the Company's Web site at http://www.Cendant.com.
Statements about future results made in this release constitute forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and the
current economic environment. The Company cautions that these statements are not guarantees of future performance.
Actual results may differ materially from those expressed or implied in the forward-looking statements. Important
assumptions and other important factors that could cause actual results to differ materially from those in the
forward-looking statements are specified in the Company's Form 8-K filed on February 8, 2001.
Such forward-looking statements include projections. Such projections were not prepared in accordance with published
guidelines of the American Institute of Certified Public Accountants or the SEC regarding projections and forecasts,
nor have such projections been audited, examined or otherwise reviewed by independent auditors of Cendant or its
affiliates. In addition, such projections are based upon many estimates and are inherently subject to significant
economic and competitive uncertainties and contingencies, many of which are beyond the control of management of
Cendant and its affiliates. Certain of such uncertainties and contingencies are specified in Cendant's Form 8-K
filed on February 8, 2001. Accordingly, actual results may be materially higher or lower than those projected.
The inclusion of such projections herein should not be regarded as a representation by Cendant or its affiliates
that the projections will prove to be correct.
SOURCE: Cendant Corporation