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Non-Tech : Cendant Corporation (NYSE:CD)

CD 5.710

-5.3%

Dec 26 9:30 AM EST

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To: Todd D. Wiener who started this subject	7/2/2001 5:40:34 PM
From: Paul Lee	Read Replies (1) of 3627

Cendant says signs outsource deal for membership units NEW YORK (Reuters) - Cendant Corp., the franchising giant that owns Avis car rental and other brands, said Monday that it had signed an agreement to outsource and license its membership business units in a 40-year deal that will bolster its 2002 earnings. Cendant said that the deal signs over its 24-million member Cendant Membership Services and Cendant Incentives to a new company named Trilegiant, which will be headed by the former management of those two businesses. Cendant had previously planned to spin these units off to its shareholders. Members get access to services such as discounts on travel and shopping. Cendant will hold a stake in the new company, it said. The company said it expects the agreement to add 6 cents to 8 cents per share to its 2002 earnings. Cendant said assuming the company's recent acquisition of travel booking firm Galileo International is completed, it expects to report a profit of $1.35 to $1.40 per share in 2002.

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