Cendant Corporation (NYSE: CD) has announced the name of its forthcoming real estate portal, CompleteHome.com.

CompleteHome.com is planned to debut in December of this year and will showcase Cendant’s residential real estate brands (Century 21, Coldwell Banker and ERA,) its real-estate business units (Cendant Mobility and Cendant Mortgage), and RentNet.

CompleteHome.com anticipates using Rent Net's platform to drive consumers to the site before, during and after their moves and take the renter through the first apartment through the purchase and sale of their first home to their final home.

According to figures compiled by Media Metrix and the site, Rent Net logged 3.5 million unique user sessions in July of 1999 alone, accounting for 50% more visits than its nearest competitor.

Sarah Nolan has been named chief executive officer of the new Internet site venture. A former senior executive with American Express and most recently the CEO of two Internet companies, Nolan joined CompleteHome.com in September of this year.

Nolan says, " Through CompleteHome.com, we’ll be able to offer our networks of real estate professionals vastly increased exposure at no cost, while providing the consumer with the kind of seamless, one-source, Web-based experience that has proven successful in other online ventures. Brokers and agents will benefit from a dedicated Internet presence, while consumers will be able to fulfill their real estate needs from A to Z, whether trying to find a home, buy it, get a mortgage, seek information about new neighborhoods, move or simply settle in. CompleteHome.com will offer it all."

In a related initiative, Cendant’s Board of Directors has approved a plan to create a new class of common stock to track the performance of the Company’s new real estate portal. Cendant reached this decision after studying various strategic alternatives to create shareholder value. Goldman Sachs acted as financial advisor to the Company. Later this year, Cendant will file a proxy with the SEC, which will contain financial details as well as more specific plans concerning the transaction. The plan to create a tracking stock, subject to shareholder approval, anticipates the initial public offering of CompleteHome.com in the second quarter of 2000. Beginning in the third quarter of 1999, the Company will provide footnote disclosure of CompleteHome.com’s earnings information within Cendant’s financial statements.

Published: September 30, 1999

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