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Jya-Ning · 08-01-2006, 04:14 PM

For every 100 share of CD, you will get 20 WYN (Wyndham), for every 100 share of CD you will get 25 H (21 century ...), and they will eventually get 10 to 1 reverse split. So for every 100 share you will enventually become 10 share CD

WYN is about $30 per share, H is about $25 per share, and CD is now about 2 to 3

(30 * 20 + 25 * 25 + 2.5 * 100) /100 = $14.75 per share.

you did not get trim down.

Jya-Ning

JLB · 08-01-2006, 04:39 PM

Having now read two of the five recent announcements I received, I have answered my own question. Holders of CD as of July 21, received one share of Wyndham Worldwide for every five shares of CD, plus a preferred stock purchase right.

Then it says:

Following the distributions, you will own shares in Cendant, Wyndham Worldwide and Realogy. Wyndham Worldwide has applied to have its common stock listed on the New York Stock Exchange under the symbol “WYN,” and Realogy has applied to have its common stock listed on the New York Stock Exchange under the symbol “H.” Cendant’s common stock will continue to trade on the New York Stock Exchange under the symbol “CD,” and, in connection with the plan of separation, it is expected that Cendant will change its name to Avis Budget Group, Inc. and its symbol to “CAR.”

JLB · 08-01-2006, 04:41 PM

Dear Wyndham Worldwide Corporation Stockholder:

It is my pleasure to welcome you as a stockholder of our company, Wyndham Worldwide Corporation. As one of the world’s largest hospitality companies, we offer our individual consumers and business-to-business customers a broad suite of hospitality products and services across various accommodation alternatives and price ranges through our premier portfolio of world-renowned brands. With more than 20 brands, which include Wyndham Hotels and Resorts, Ramada, Days Inn, Super 8, TripRewards, RCI, Landal GreenParks, English Country Cottages, Novasol, Fairfield and Trendwest, we have a significant presence in most major hospitality and leisure markets in the United States and throughout the rest of the world. The hospitality products and services we offer include lodging, vacation exchange and rental services, and vacation ownership interests in vacation ownership resorts. We are the world’s largest lodging franchisor, vacation exchange network and vacation ownership business, and we are among the world’s largest global marketers of vacation rental properties.

We have applied to list our common stock on the New York Stock Exchange under the symbol “WYN” in connection with the distribution of our company’s common stock by Cendant Corporation.

I invite you to learn more about Wyndham Worldwide by reviewing the enclosed information statement. We look forward to our future as an independent, publicly traded company and to your support as a holder of Wyndham Worldwide common stock. We also look forward to welcoming you as a new or returning customer at one of our hotels, resorts or other vacation accommodations around the world.

Sincerely,

Stephen P. Holmes

Chairman and Chief Executive Officer

Icarus · 08-03-2006, 12:01 PM

I can't believe they are going to give a company named Realogy the one letter symbol H.

Who used to have H?

Maybe they are planning on changing their name. Realogy. What do you think of when you hear that name? Some sort of astrologer sitting in a room with a crystal ball throwing darts at properties and astrological work-ups trying to decide what to buy and sell next?

-David

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