Delivering Value to Corporation

1. Delivering Value to Corporation Content, Cost reduction, and Control backed by the strength of Cendant Corporation • Solutions to support volume agreements, ensure data integrity and quality control, and promote self-sufficiency and traveler autonomy • Most appropriate, cost efficient travel itinerary that suits traveler needs Content Control Best positioned to serve Corporate Travel Needs • Products and services that streamline processes and maximize efficiency by reducing the cost of processing reservations • Financial resources, stability, and negotiating leverage to continue to deliver best-in-class solutions Cost Reduction Cendant Advantage

2. Bringing unmatched depth and breadth of travel CONTENT HOTEL • Over 59,000 hotel properties • industry-leading 155 brandsin Galileo InsideShopper. Benefits include: • Real-time access to rates and availability • Desktop access to last room availability • exclusive offers for loyalty program members AIR • Instant access to schedules on 683 Airlines, including low cost carriers such as WestJet • E-ticketing (including interline) on 65 carriers from 53 countries – more than any other GDS RAIL • VIARail in Canada , Amtrak in US • The ability to ticket EuroStar service and Access Rail through the host system CAR • 24 car rental companies, 18 with inside availability or inside link, ensuring real-time inventory status FARING • Galileo Optimal Shopping sweeps the broadest range of fares, including participating low-cost carriers, your airline private fares and web fares

3. Reducing the COST of reservation processing Shopping Negotiated Fares Agency Efficiency Travelport • Latest capabilities in corporate travel management • More global content • Access to all of a corporation’snegotiated fares and preferred rates • Exclusive discounts from Cendant partnerships • Reduced service fee, advanced policy adherence, and preferred vendor management • Proprietary adoption methodologies • Industry-leading adoption rates delivering proven cost savings • Galileo Optimal Shopping searches fare and schedule information to find up to 150 alternative and lower priced alternatives • Uncovers low cost carriers in markets where lower fares are more likely • Reduces call time via decreased need for shopping internet sites • Galileo Hotel Inside Shopper saves time by displaying accurate last-minute availability • File corporate negotiated rates directly through ATPCO, with all required documentation and rules validation capabilities that other GDS systems only offer with public fares • Save time and money by avoiding costly errors • Ensure that correct fares are quoted and sold • Agency Private Fares increases compliance with corporate travel programs and supplier agreements by automatically quoting, storing and ticketing negotiated airfares • TravelScreen Plus ensures that travelers are receiving all corporate discounts, mileage credit and more • Automatically ensure every PNR complies with a company's business standards and corporate travel mandates • Debit memo direct settlement reduces cost of researching and resolving debit memos

4. Putting you in CONTROL • Direct filing by airlines of negotiated contracts eliminate faring errors • Customization via Scriptwriter Plus and XML Desktop ensure consistency in booking process • Custom Check ensures that all required elements of a booking are correct • PRO-file Plus reduces reservation errors by consistent and accurate integration of passenger and corporate data • Through Airline Private Fares, corporate negotiated fares are loaded by the carrier ensuring correct application of negotiated discounts • Agency Private Fares ensure that negotiated rates are integrated and highlighted within all shopping and faring displays Volume Agreements Data Integrity / QC Control Reports Self-sufficiency • Easy to use online booking tool that also ensures policy adherence • 24x7 access to travel data and status changes via View trip and Galileo Wireless • Galileo IDS provides real-time data export to generate pre-trip forecasts, traveler location reports etc. • Real-time monitoring and control of travel-spend using Ibank by Cornerstone

5. Extending the CENDANT Advantage • Experience, processes, and vision to understand and serve needs of a corporation • 9 out of 10 Fortune 500 companies rely on Cendant for corporate services Expertise • Committed to agency channel • 30% increase in Capital Investment from 2003 to 2004 • Peace of mind that Cendant will be around – and investing – to make Galileo products and services even better Commitment • Preferred Access and Rates from Cendant owned travel assets • Development & acquisition by Cendant of the latest content technology– e.g. Optimal Shopping • Negotiating leverage that ensures best rates Preferred Content • In 2003 alone, we invested ~ $150 million CAD in the GDS business – thanks to the financial resourcefulness of Cendant! Resources • Diversified revenues to weather industry shocks and cycles • #106 on Fortune’s 2004 list of largest US corporations • Ranked #2 by BusinessWeek 50 Stability