CUC Int'l- Cybermarketeer? Message Board

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Technology Stocks : CUC Int'l- Cybermarketeer?

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To: Mark Lijewski who wrote (176)	7/8/1997 2:59:00 PM
From: Mark Lijewski	of 243

This Montgomery Ward thing seems to be haunting Cu again... Tuesday July 8 8:16 AM EDT Company Press Release HFS Incorporated Responds to Montgomery Ward Bankruptcy Filing PARSIPPANY, N.J.--(BUSINESS WIRE)--July 8, 1997--HFS Incorporated (NYSE:HFS) provided the following statement relating to the potential acquisition of Signature Financial/Marketing Inc. from Montgomery Ward & Co. Inc. which announced it has filed for bankruptcy protection under Chapter 11 of the United States Bankruptcy Code: ``The company has fulfilled its strategic objective in direct marketing through its pending merger with CUC International (NYSE:CU). However, the company continues to focus on acquisitions which are strategic, and earnings per share and cash flow additive. We believe the potential acquisition of Signature may achieve those objectives upon the successful conclusion of the reorganization of Montgomery Ward.'' HFS Incorporated is a global provider of real estate and travel services. The company is the world's largest franchisor of residential real estate brokerage offices, provides mortgage services to consumers and is the global leader in corporate employee relocation. HFS is also the largest franchisor of hotels and rental car agencies, the leading provider of vacation timeshare exchanges and is the second largest vehicle management company worldwide. HFS and CUC recently announced a merger of equals expected to close in the fall of 1997.

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