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, November 5, 2004 – ERA Real Estate today announced the launch of Espanol.ERA.com, the Spanish-language sister-site to its existing consumer Web site. This new site provides in Spanish all of the elements available on ERA.com including property information, office and sales associate profile pages, search and resource tools and more.

"As a leading global real estate brand with companies in more than 30 countries, ERA Real Estate has always been adept at serving culturally diverse consumers," said Brenda W. Casserly, president and COO, ERA Franchise Systems LLC. "In particular, we have long recognized and understood the critical role language can play. Espanol.ERA.com is the latest example of our ongoing commitment to meet the real estate needs of the nation's rapidly growing Latino community."

The launch of Espanol.ERA.com provides a full text translation of the existing ERA Real Estate site. While many Spanish-translated web sites only convert the top layers of the site, Espanol.ERA.com goes beyond simple static text and form field translation to display all site content in Spanish including dynamic listing elements such as property descriptions, features and amenities.

To accomplish this comprehensive translation, Espanol.ERA.com employs a unique process that combines automated and human assisted translations. Especially noteworthy is the "exceptions" dictionary, which properly translates over 40,000 real estate terms not commonly found in a standard English to Spanish dictionary.

The site translation provides Spanish-speaking consumers all the benefits of the many programs and services hosted on ERA.com. Visitors to Espanol.ERA.com can now access ERA® Answers to view valuable information on buying and selling a home or they can participate in the ERA® Select Consumer Services program to take advantage of valuable savings and offers available to ERA customers. Web site guests can also choose to search luxury property listings or customize their interactive experience through My ERA.com.

The launch of Espanol.ERA.com is the latest element to be added to the existing ERA Hispanic Marketing Program. In addition to adapting its award-winning television commercial campaign for the Spanish-speaking market, virtually every new English language brochure or marketing material ERA Real Estate creates is now produced in Spanish as well. As part of its ongoing diversity initiative, ERA Real Estate also provides recruiting support and materials to encourage and promote the hiring of Spanish-speaking sales associates to more effectively serve the Hispanic market.

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 approximately 32,250 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/.