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CENDANT'S FAIRFIELD RESORTS AND TRUMP ATLANTIC CITY CASINO RESORTS ANNOUNCE STRATEGIC MARKETING ALLIANCE
NEW YORK, N.Y. and ATLANTIC CITY, N.J 11-13-2002 -- November 13, 2002 � Cendant Corporation (NYSE:CD) announced today that its unit, Fairfield Resorts, Inc., the world's largest vacation ownership company with more than 450,000 owners, has signed a new exclusive strategic marketing alliance with three Atlantic City Trump hotel casinos. The agreement marks Trump's first entry into the rapidly expanding timeshare industry, and will provide Fairfield Resorts with exclusive Atlantic City sales and marketing locations to support vacation ownership interval sales of Fairfield's newly acquired Skyline Tower timeshare resort.

In early 2003, Fairfield will begin marketing activities at each of Trump's Atlantic City hotel casino locations, including the Trump Taj Mahal, Trump Plaza and Trump Marina, through a variety of channels including on-site kiosks, in-room programs and co-branded promotions. In addition, Fairfield will construct and operate a 10,000 square-foot sales center at the Trump Taj Mahal to preview its nationwide resorts, including ownership at Fairfield's Skyline Tower resort, located nearby.

The new alliance is expected to boost leisure travel to Atlantic City and provide incremental guest generation and casino traffic at Trump properties in the region. Fairfield, which markets vacation ownership products at resort properties in 18 states and the U.S. Virgin Islands, will offer consumers attractive Atlantic City travel packages, including hotel stays and entertainment offers at Trump locations. Current Fairfield owners, many of whom permanently reside in the eastern U.S., may also soon enjoy the option of using their points-based FairShare Plus ownership to secure room accommodations at Atlantic City Trump casino hotels, based on availability.

"We're pleased to partner with Fairfield Resorts, the leading player in the rapidly growing timeshare industry," said Donald J. Trump, Chairman of Trump Hotels & Casino Resorts, Inc.(THCR) "Timeshare owners are not only some of the most resilient leisure travelers, but typically spend more on gaming and entertainment during their vacations. We believe that increasing our exposure among timeshare owners will greatly benefit our business."

"Fairfield is proud to partner with Trump's hotel casino resorts in Atlantic City, as we believe this new alliance will provide tremendous opportunities to jointly build our brands among new clientele," said Franz S. Hanning, president and CEO, Fairfield Resorts. "We look forward to enabling our prospective and current owners to enjoy the excitement of Atlantic City at exceptional Trump locations, while introducing thousands more to the benefits of vacation ownership with Fairfield Resorts."