Cendant Completes Funding Of Litigation Liability

NEW YORK— Cendant Corp. has completed the funding of its remaining principal securities class action litigation liability. Cendant President/CEO, Henry R. Silverman, stated, “With the final payment made on the principal class action settlement, our focus going forward will be to build shareholder value through the utilization of more than $2 billion of annual free cash flow to continue to reduce indebtedness and strategically expand our core businesses.”