London , Uk - 15 November, 1999 -

Already a leader in the mid-market segment of the U.S. hotel industry, Howard Johnson International Inc. plans to expand not only within the U.S., but globally. To that point, the brand recently announced the signing of an international master franchise agreement for eight European countries. The brand expects to grow from its present 72 hotels outside the U.S. to more than 230 international hotels by 2005, tripling its international presence. The agreement with Premier Hotels, Plc, the current master franchisee for Howard Johnson in the UK, calls for the development of approximately 50 hotels over the next five years in Austria, Belgium, Germany, Luxembourg, the Netherlands, Portugal, Spain and Switzerland. Sites have been identified in Southern Germany and Austria for new construction hotels which are anticipated to open in 2001. In addition to the Western Europe agreement, Premier will be opening two Howard Johnson hotels within the next three months. The first, a 133-room hotel, is scheduled to open in January in West Bromwich (near Birmingham), followed in March by a 118-room hotel near Wembly, on the outskirts of London. There is a vital need for mid-scale brands in Europe, said Mary Mahoney, president & CEO, Howard Johnson International. This agreement with Premier Hotels continues Howard Johnsons quest to provide a quality, mid-priced hotel globally. We know the value of branding and the value of the Howard Johnson brand name. It is a name that has global appeal, said John Warwick, Group Managing Director, Premier Hotels Plc. We intend to capitalize on that global appeal and develop a product that caters to mid-market consumers in Europe. BRAND ADDS POLO GROUND, RED SEA RESORT TO PORTFOLIO Two Howard Johnson hotels have recently opened in Argentina, one of which is the 32-room Howard Johnson Resort de Campo & Polo, home to a regulation polo field. The newly-constructed hotel features tennis courts, a swimming pool with a bar and a solarium. Moving to the Middle East, a resort property is expected to open in December in Sharm El Sheikh, Egypt. It is the first Howard Johnson hotel in that country, and the five-star resort will be located adjacent to Nabq Wildlife Preserve and across from Tiran Island, one of the worlds premier diving locations. Also two new-construction hotels are expected to open in Israel - one in December (in Nazareth) and one in early 2000 (in Jerusalem). Within the next 12 months the brand anticipates that Howard Johnson hotels will debut in China and Italy. Howard Johnson International Inc. franchises more than 500 hotels and inns worldwide, including properties in Canada, the Dominican Republic, Ecuador, Mexico, Israel, Lebanon, Malta, Colombia, Venezuela, the United Arab Emirates and soon in Argentina, Jordan and the United Kingdom. The chain franchises internationally through master licenses issued by Cendant Global Services B.V., the international franchise arm of Cendant Corporation. To make a reservation at any Howard Johnson access the chains Internet web site at www.hojo.com or contact a travel agent. Howard Johnson is a subsidiary of Cendant Corporation (NYSE: CD). Contact: Andrew Miller, Howard Johnson International Phone: 1-973-496-8439 Fax: 1-973-496-7307 Email: andrew.miller@cendant.com

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