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Non-Tech : Cendant Corporation (NYSE:CD) -- Ignore unavailable to you. Want to Upgrade?

To: Larry S. who wrote (1610)	8/18/1998 7:52:00 AM
From: Wren	Read Replies (1) \| Respond to of 3627

Larry, my understanding of the conversation feature on CD.I is as follows. I have not read the Prospectus (I have ordered one from 1-888-CENDANT, but not received it yet). The information that I have came from this thread. The conversion measurement date is 2-16-01. If CD is under 37 on 2-16-01, you get 1.3514 shares of CD for each share of CD.I If CD is between 37 and 48.10, you get $50 worth of CD shares If CD is over 48.10, you get 1.0395 shares of CD On 2-16-01, the dividend rate on the CD.I will adjust - presumably downward. If you prefer to hold the CD.I after 2-16-01, you can do so instead of converting. This is my understanding. If this is not correct, I hope someone will post the correct information.

To: Larry S. who wrote (1610)	8/18/1998 7:59:00 AM
From: VALUESPEC	Read Replies (1) \| Respond to of 3627

Fidelity has been selling (no surprise). I would imagine that since CD was their largest holding at one time, that selling some, at least, would be a prudent precaution. Are they almost done? Maybe this was the news that helped put a damper on CD's price yesterday. I still think that CD is a great company and will prove itself in the upcoming months and years. <<Washington, Aug. 17 (Bloomberg) -- Fidelity Investments sold almost half its stake in Cendant Corp. during the second quarter, a move that may have generated millions of dollars in losses for several Fidelity funds, including the flagship Magellan fund. The Boston-based mutual fund group disclosed in a regulatory filing that its Cendant stake fell to 33.8 million shares as of June 30, from 65.9 million shares on March 31, when Fidelity ranked as Cendant's biggest institutional shareholder . . .>> CD: $ 16.56b VALUESPEC valuespec.com