EXHIBIT 99.1

                       CENDANT CORPORATION COMPLETES SALE
                  OF ENTERTAINMENT PUBLICATIONS AND GREEN FLAG;
                   CONCLUDES PROGRAM TO DIVEST NON-CORE ASSETS

             Divestiture Program Generates $4.5 Billion in Proceeds

     New York,  NY,  November 30,  1999--Cendant  Corporation  (NYSE:  CD) today
announced that it has completed the sale of Entertainment Publications,  Inc. to
The Carlyle Group and the sale of Green Flag to Direct Line for a combined total
value  of  $735  million,  thus  concluding  the  Company's  program  to  divest
non-strategic assets. The Entertainment Publications and Green Flag transactions
generated a combined pre-tax book gain of approximately $230 million.

     Entertainment Publications is the world's largest marketer and publisher of
coupon  books and  discount  programs.  Green Flag is a UK  roadside  assistance
organization, providing a wide range of emergency support and rescue services to
more than 2.5 million customers representing 15% of the UK market.

     As previously  reported,  Cendant's program to divest  non-strategic assets
has resulted in the  disposition of 18 business  units,  and has generated about
$4.5  billion in  proceeds.  Proceeds  have been  primarily  used to  repurchase
Cendant stock and reduce the Company's  indebtedness.  To date,  the Company has
reduced  shares  outstanding  by  approximately  152 million  shares or 18%, has
retired  approximately  $700  million in debt and  currently  has more than $1.5
billion in cash.

     Cendant's Chairman,  President and CEO, Henry R. Silverman,  stated:  "With
our divestiture program now completed, Cendant will continue to benefit from the
strong  internal  growth  of our  core  operations.  We plan to  grow  our  core
businesses as we have in the past--by unit growth.  More  franchised  hotels and
real estate brokerages,  more loan originations,  more timeshare exchanges, more
direct marketing programs and members and more Preferred Alliances. We will also
continue to evaluate strategic opportunities."

     Cendant Corporation is a global provider of consumer and business services.
The Company's core competencies  include building franchise  systems,  providing
outsourcing  solutions and direct marketing.  As a franchisor,  Cendant is among
the world's leading franchisors of hotels, rental car agencies,  tax preparation
services  and real  estate  brokerage  offices.  The Real Estate  Division  also
includes Welcome Wagon/GETKO and the Company's  residential real estate services
Internet  portal,  CompleteHome.com.  As a provider  of  outsourcing  solutions,
Cendant is the world's largest vacation  exchange  service,  a major provider of
mortgage services to consumers and the global leader in employee relocation.  In
direct marketing,  Cendant provides access to insurance, travel, shopping, auto,
and other  services  primarily  to customers  of its  affinity  partners.  Other
business  units  include NCP, the UK's largest  private car park  operator,  and
Wizcom, an information technology services provider.  Headquartered in New York,
NY, the Company has  approximately  30,000  employees  and  operates in over 100
countries. More information about Cendant, its companies, brands and current SEC
filings may be obtained by visiting the Company's Web site at www.Cendant.com or
by calling 877-4INFO-CD (877-446-3623).

     Statements  about  future  results  made in  this  release  may  constitute
forward-looking   statements  within  the  meaning  of  the  Private  Securities
Litigation   Reform  Act  of  1995.   These  statements  are  based  on  current
expectations  and the current  economic  environment.  The Company cautions that
these statements are not guarantees of future performance. They involve a number
of risks and uncertainties  that are difficult to predict.  Actual results could
differ  materially  from  those  expressed  or  implied  in the  forward-looking
statements.  Important  assumptions and other important factors that could cause
actual results to differ materially from those in the forward-looking statements
are specified in the Company's  Form 10K/A for the year ended December 31, 1998,
including the resolution of the pending class action litigation.

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