2004 Press Releases

ERA Franchise Systems LLC 1 Campus Drive Parsippany, NJ 07054 (973) 428-9700 FOR IMMEDIATE RELEASE

Media contact: Steven Alessandrini (973) 496-7904 steven.alessandrini@era.com

PARSIPPANY, NJ, May 3, 2004 – For ERA® sales associates and brokers across America, May is a particularly important month. Of course, May traditionally represents one of the busiest months of the year in terms of home buying and selling activities. But the month also marks another time-honored activity for ERA Real Estate – "Day in May for MDA," a coast-to-coast fundraising event that provides support to the Muscular Dystrophy Association (MDA).

Every year, participating ERA affiliates each select one day in May to raise funds to support MDA in its fight against neuromuscular diseases. Local ERA real estate offices host all types of events – from walk-a-thons and bowl-a-thons to black-tie galas, silent auctions, golf tournaments, bake sales, garage sales and dinner theater shows – to raise money for this worthy cause. The funds are then presented to the non-profit organization at the national MDA Jerry Lewis Labor Day Telethon later that year.

"'Day in May for MDA' is truly a group effort in which the entire ERA family combines its caring and skills to make a difference in the lives of many, " said P.J. Martin Smith, senior vice president of marketing, ERA Real Estate. "Through this collective spirit of teamwork and generosity, our ERA brokers and sales associates raised $585,000 for MDA in 2003, with much of it coming in May, and have helped raise more than $30 million for MDA during the past 27 years."

As a special "thank you" to one of its largest corporate sponsors, MDA awards the individual ERA sales associate who raises the most money, as well as the broker from the ERA office that collects the most money, during "Day in May for MDA" with a trip to Hollywood and VIP tickets to see celebrities perform live on the MDA Labor Day Telethon.

Supporting MDA since 1977, ERA Real Estate is the sole corporate sponsor of MDA from the real estate industry. MDA is the world's largest non-governmental sponsor of research seeking causes and effective treatments of neuromuscular diseases, sponsoring more than 400 research projects annually. The fundraising efforts of the ERA system are especially important to MDA because the association's programs are funded almost entirely by private contributors. MDA seeks no government grants, United Way funding or fees from those it helps.

About ERA Franchise Systems LLC
ERA Franchise Systems LLC is a global leader in the residential real estate industry with more than 30 years experience in developing consumer-oriented products and services. It is a subsidiary of Cendant Corporation (NYSE: CD) and part of its Real Estate Franchise Group. The ERA® real estate network includes more than 29,100 brokers and sales associates throughout the United States and 30 other countries and territories. Each office is independently owned and operated except offices owned and operated by NRT Incorporated. ERA® information is available to consumers at ERA.com. ERA® properties can also be viewed at Realtor.com. For additional information about ERA Franchise Systems LLC as well as expert commentary on emerging trends in the real estate industry, visit the Cendant Media Resource Center at http://www.cendant.com/media/.