SEC Concludes Review Of Cendant

NEW YORK— A review on Cendant’s 2001 Form 10-K by the Division of Corporation Finance of the U.S. Securities and Exchange Commission (SEC) has concluded, with a judgment in Cendant’s favor. The findings indicate that the SEC required no change to the companys reported or adjusted earnings per share in connection with such review. The company had previously announced the review in August 2002 as part of the SECs review of all Fortune 500 companies. As a result of such review, the firm has filed amendments to its Form 10-K for the year ended December 31, 2001 and its Form 10-Q for the quarter ended September 30, 2002 reflecting certain modifications and expanded disclosures. Also, it has made available on its website marked versions of its Form 10-K/A and its Form 10-Q/A, which reflect the modifications from the most recently filed forms.