EXHIBIT 99.2

PRO FORMA FINANCIAL INFORMATION

The following Unaudited Pro Forma Condensed Combined Balance Sheet as of
December 31, 2000 and the Unaudited Pro Forma Condensed Combined Statement of
Operations for the year ended December 31, 2000 give effect to the March 1, 2001
acquisition of Avis Group Holdings, Inc. (Avis) (the Acquisition) which has been
accounted for under the purchase method of accounting. The Unaudited Pro Forma
Condensed Combined Financial Statements are based on the historical Consolidated
Financial Statements of Cendant Corporation (Cendant) and Avis under the
assumptions and adjustments set forth in the accompanying Notes to the Unaudited
Pro Forma Condensed Combined Financial Statements. The Unaudited Pro Forma
Condensed Combined Balance Sheet assumes that the Acquisition occurred on
December 31, 2000 and the Unaudited Pro Forma Condensed Combined Statement of
Operations assumes the Acquisition occurred on January 1, 2000. Historically,
Avis paid Cendant for services Cendant provided related to call centers and
information technology and for the use of Cendant trademarks. All intercompany
transactions have been eliminated on a pro forma basis.

The following Unaudited Pro Forma Condensed Combined Balance Sheet and the
Unaudited Pro Forma Condensed Combined Statement of Operations also give effect
to various significant finance related activities which occurred during the
first quarter of fiscal 2001 ("Financing Activities"). The Financing activities
include an issuance of debt securities (net of debt retirements) and equity
securities, the conversion of the PRIDES to equity and an issuance of zero
coupon convertible notes. The Unaudited Pro Forma Condensed Combined Balance
Sheet assumes that the Financing Activities occurred on December 31, 2000 and
the Unaudited Pro Forma Condensed Combined Statement of Operations assumes the
Financing Activities occurred on January 1, 2000.

Prior to the Acquisition, Cendant retained an equity investment from its 18%
ownership in Avis common stock (approximately 5.5 million shares) and owned over
99% ($388 million) of the preferred stock of Avis. In addition, Cendant recorded
a deferred gain, proportionate to its common stock ownership percentage of Avis,
relating to a sale of our PHH Fleet business to Avis on June 30, 1999. In
August, 2000, Avis contributed its European vehicle management and leasing
business (PHH Europe) to a newly formed joint venture in exchange for cash,
settlement of intercompany debt and a 20% interest in the venture (the PHH
Europe Transaction). The accompanying Avis Supplemental Unaudited Pro Forma
Condensed Combined Statement of Operations for the year ended December 31, 2000
has been adjusted to reflect the PHH Europe Transaction.

The Pro Forma adjustments are based on the Avis Acquisition whereby Avis
stockholders received $33 in cash for each share of Avis common stock
outstanding. Cendant made payments totaling approximately $986 million,
including payments to Avis shareholders ($940 million), and direct expenses of
the transaction ($30 million) inclusive of the net cash obligation related to
Avis stock options settled prior to the consummation. The purchase price also
includes the fair value of Cendant options exchanged with certain fully-vested
Avis option holders who elected not to exercise their options as part of the
acquisition ($16). In addition, Cendant assumed approximately $7.5 billion of
net debt of Avis ($6.8 billion of which relates to vehicle financing). The Pro
Forma Condensed Combined Financial Statements reflect the entire purchase price
being funded by available cash and a portion of the Financing Activities other
than the zero coupon convertible notes. The remaining proceeds from Financing
Activities were used to fund working capital needs and other cash needs of the
Company.

For purposes of developing the Unaudited Pro Forma Condensed Combined Balance
Sheet as of December 31, 2000, Avis' assets and liabilities have been recorded
at their estimated fair market values and the excess purchase price has been
assigned to goodwill and other identifiable intangibles. These fair market
values are based on preliminary estimates. The pro forma adjustments may be
subject to revision once the appraisals of the fair value of Avis' assets and
liabilities are complete. In connection with the Acquisition, Cendant intends to
finalize a plan to realign and reorganize certain Avis operations. The costs of
implementing the plan, which may be substantial, have been reflected based on
preliminary estimates. Such estimates are also subject to further refinement as
the realignment is effected. The Unaudited Pro Forma Condensed Combined
Statement of Operations exclude any benefits that may result from the
Acquisition due to synergies that may be derived or from the elimination of
duplicate efforts.

Management believes that the assumptions used provide a reasonable basis on
which to present the unaudited pro forma condensed combined results. Cendant has
completed or announced other acquisitions and dispositions which are not
significant and accordingly have not been included in the accompanying pro forma
financial statements. The Unaudited Pro Forma Condensed Combined Financial
Statements may not be indicative of the results that would have occurred if the
Acquisition had been in effect on the dates indicated or which may be obtained
in the future.

The Unaudited Pro Forma Condensed Combined Financial Statements should be read
in conjunction with the historical Consolidated Financial Statements and
accompanying notes for Cendant and Avis.

UNAUDITED PRO FORMA CONDENSED COMBINED BALANCE SHEET

DECEMBER 31, 2000

(IN MILLIONS)

HISTORICAL
------------------- PURCHASE OTHER PRO FORMA PRO FORMA
CENDANT AVIS ADJUSTMENTS ADJUSTMENTS (F) COMBINED
-------- -------- ----------- --------------- ---------

ASSETS
Current assets
Cash and cash equivalents..................... $ 967 $ 203 $ (970)a $ 2,557 $ 2,757
Deferred income taxes......................... 1,113 229 23 b -- 1,365
Receivables and other current assets.......... 1,364 1,056 -- -- 2,420
------- ------- ------- ------- -------
Total current assets............................ 3,444 1,488 (947) 2,557 6,542
Property and equipment, net..................... 1,273 197 -- -- 1,470
Goodwill, net................................... 3,012 1,327 297 c -- 4,636
Other assets.................................... 3,926 435 (320)d -- 4,041
------- ------- ------- ------- -------
Total assets exclusive of assets under
programs...................................... 11,655 3,447 (970) 2,557 16,689
Assets under management and mortgage programs... 2,861 6,966 -- -- 9,827
------- ------- ------- ------- -------
TOTAL ASSETS...................................... $14,516 $10,413 $ (970) $ 2,557 $26,516
======= ======= ======= ======= =======

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable and other current
liabilities................................. $ 1,610 $ 1,398 $ 166 c $ -- $ 3,174
Stockholder litigation settlement and related
costs....................................... 3,151 -- -- -- 3,151
------- ------- ------- ------- -------
Total current liabilities....................... 4,761 1,398 166 -- 6,325
Long-term debt.................................. 1,948 725 104 c 1,300 4,077
Deferred income and other noncurrent
liabilities................................... 459 250 (114)c -- 595
------- ------- ------- ------- -------
Total liabilities exclusive of liabilities under
management and mortgage programs.............. 7,168 2,373 156 1,300 10,997
Liabilities under management and mortgage
programs
Debt.......................................... 2,040 6,797 -- 650 9,487
Deferred income taxes......................... 476 -- -- -- 476
------- ------- ------- ------- -------
2,516 6,797 -- 650 9,963
Preferred membership interest................... -- 99 -- -- 99
Mandatorily redeemable preferred interest in a
subsidiary holding debt (PRIDE's)............. 1,683 -- -- (1,683) --
Mandatorily redeemable preferred interest in a
subsidiary.................................... 375 -- -- -- 375
Commitments and contingencies
Stockholders' equity
Preferred stock............................... -- 390 (388)e -- 2
Common stock.................................. 9 -- -- -- 9
Move.com common stock......................... -- -- -- --
Additional paid in capital.................... 4,540 594 (578)e 2,290 6,846
Retained earnings............................. 2,027 277 (277)e -- 2,027
Accumulated other comprehensive loss.......... (234) (20) 20 e -- (234)
Treasury stock................................ (3,568) (97) 97 e -- (3,568)
------- ------- ------- ------- -------
Total stockholders' equity...................... 2,774 1,144 (1,126) 2,290 5,082
------- ------- ------- ------- -------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY........ $14,516 $10,413 $ (970) $ 2,557 $26,516
======= ======= ======= ======= =======

Note: Certain reclassifications have been made to the historical results of
Avis to conform with Cendant's classifications.

See accompanying Notes to Unaudited Pro Forma Condensed Combined Financial
Statements.

NOTES TO UNAUDITED PRO FORMA

CONDENSED COMBINED FINANCIAL STATEMENTS

(IN MILLIONS, EXCEPT PER SHARE)

The accompanying Unaudited Pro Forma Condensed Combined Balance Sheet was
prepared to reflect the Acquisition of Avis, which was accounted for under the
purchase method of accounting, and the Financing Activities as of December 31,
2000. The purchase price of $986 (including expenses directly attributable to
the Acquisition of $30) was based on acquiring 100 percent of the Avis common
shares outstanding, which were not already owned by Cendant as of the
acquisition date, for $33 per share plus the fair value of certain fully-vested
Avis options exchanged with Cendant options.

(a) Represents cash used to fund the Acquisition, including funds provided by
the Financing Activities other than from the zero coupon convertible notes.

(b) Represents the estimated tax benefits relating to the net impact of
purchase accounting adjustments, the deferred tax liability on identifiable
intangible assets and the tax effect relating to the settlement of stock
options.

(c) Estimated adjustments to goodwill representing the excess of the cost over
the preliminary estimate of the fair value of the identifiable net assets
acquired.

Calculation of acquisition goodwill--
Cash consideration...................................... $ 970
Fair value of fully-vested options exchanged............ 16

Fair value of identifiable net assets acquired--
Book value of Avis.................................... 1,142
Elimination of Avis goodwill.......................... (1,327)
Fair value adjustments to existing liabilities and
preliminary estimated costs to
realign Avis........................................ (166)
Fair value adjustments to debt........................ (104)
Deferred tax assets on fair value adjustments......... 100
Preliminary estimate of fair value of identifiable
intangible assets...................................... 200
Deferred tax liability on identifiable intangible
assets................................................. (77)
-------
Preliminary estimate of fair value of identifiable net
liabilities assumed..................................... (232)
-------
Cendant's basis in its current ownership of Avis (common
and preferred equity
investment of $520, net of deferred gain of $114)..... 406
-------
Acquisition goodwill.................................... $ 1,624
=======
Calculation of goodwill acquisition adjustment--
Acquisition goodwill.................................... $ 1,624
Avis goodwill........................................... (1,327)
-------
Goodwill acquisition adjustment....................... $ 297
=======

(d) Represents the following adjustments to other assets--

Elimination of preferred investment in Avis............. $ (388)
Elimination of common investment in Avis................ (132)
Preliminary estimate of the allocation of purchase price
to other
identifiable intangible assets........................ 200
-------
Change in other assets.................................... $ (320)
=======

NOTES TO UNAUDITED PRO FORMA

CONDENSED COMBINED FINANCIAL STATEMENTS (CONTINUED)

(IN MILLIONS, EXCEPT PER SHARE)

(e) The elimination of the equity balances of Avis less the impact of
converting certain Avis options to Cendant options for employees electing
not to exercise their existing options ($16).

(f) Represents the Financing Activities as outlined below--

Net Proceeds of Financing Activities
Issuance of Zero Coupon Convertible Notes (CODE's)...... $ 900
Repayment of Term Loan (7.4%)........................... (250)
Borrowings under $650 million term loan agreement....... 650
-------
Change in corporate debt.................................. 1,300

Issuance of Medium Term Notes (8.125%).................. 650
-------
Change in LUMP Debt....................................... 650

Issuance of equity........................................ 607
-------
Net increase to cash...................................... $ 2,557
-------

Equity activity
Redemption of PRIDE's................................... $ 1,683
Issuance of equity (See above).......................... 607
-------
Net change in additional paid in capital.................. $ 2,290
=======

* * * * * * *

UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENT OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2000

(IN MILLIONS, EXCEPT PER SHARE AMOUNTS)

HISTORICAL ADJUSTED PURCHASE OTHER PRO FORMA PRO FORMA
CENDANT AVIS(1) ADJUSTMENTS ADJUSTMENTS COMBINED
---------- -------- ----------- --------------- ---------

REVENUES

Service fees................................... $3,783 $ 155 $ (173)a $ -- $3,765
Vehicle rental................................. -- 2,467 -- -- 2,467
Vehicle leasing and other fees................. -- 1,316 -- -- 1,316
Other.......................................... 147 151 (39)b -- 259
------ ----- ------ ---- ------
Net revenues..................................... 3,930 4,089 (212) -- 7,807

EXPENSES
Direct operating............................... 1,903 966 (173)a -- 2,696
Vehicle depreciation and lease charges......... -- 1,671 -- -- 1,671
Selling, general and administrative............ 484 637 -- -- 1,121
Interest, net.................................. 145 482 -- 98 f,h 725
Depreciation and amortization.................. 330 74 16 c -- 420
Other charges--
Restructuring and unusual.................... 89 -- -- -- 89
Litigation settlement........................ (21) -- -- -- (21)
Investigation related........................ 23 -- -- -- 23
------ ----- ------ ---- ------
Total expenses................................... 2,953 3,830 (157) 98 6,724
------ ----- ------ ---- ------
Net loss on disposition of businesses............ (8) -- (35)d -- (43)
------ ----- ------ ---- ------

INCOME (LOSS) BEFORE INCOME TAXES AND MINORITY
INTEREST....................................... 969 259 (90) (98) 1,040
Provision (benefit) for income taxes............. 309 117 (27)e (37)e 362
Minority interest................................ 84 7 -- (66 ) g 25
------ ----- ------ ---- ------
INCOME (LOSS) FROM CONTINUING OPERATIONS......... $ 576 $ 135 $ (63) $ 5 $ 653
====== ===== ====== ==== ======
CENDANT COMMON STOCK INCOME PER SHARE INCOME PER
SHARE FROM CONTINUING OPERATIONS--
Basic.......................................... $ 0.80 -- $ 0.79
Diluted........................................ $ 0.78 -- $ 0.76 h

WEIGHTED AVERAGE SHARES OUTSTANDING--
Basic.......................................... 724 107 i 831
Diluted........................................ 762 107 i 869

MOVE.COM COMMON STOCK LOSS PER SHARE LOSS PER
SHARE FROM CONTINUING OPERATIONS--
Basic.......................................... $(1.76) $(1.76)
Diluted........................................ $(1.76) $(1.76)

WEIGHTED AVERAGE SHARES OUTSTANDING--
Basic.......................................... 3 3
Diluted........................................ 3 3

- --------------------------

(1) See Avis Supplemental Pro Forma Financial Statements

See accompanying Notes to Unaudited Pro Forma Condensed Combined Financial
Statements.

NOTES TO UNAUDITED PRO FORMA
CONDENSED COMBINED FINANCIAL STATEMENTS

FOR THE YEAR ENDED DECEMBER 31, 2000
($ IN MILLIONS, EXCEPT PER SHARE)

(a) Elimination of amounts paid by Avis to Cendant for services related to call
centers and information technology and for the use of trademarks.

(b) Elimination of Cendant's earnings attributable to its investment in Avis.

Amortization of goodwill--40 year life...................... $ 6
Amortization of other intangibles--20 year weighted- average
life...................................................... 10
---
Total amortization...................................... $16
===

(d) Reversal of a $35 gain recorded by Cendant, which represents the
recognition of a portion of its previously recorded deferred gain from the
sale of its fleet business due to the disposition of PHH Europe by Avis in
August 2000.

(e) Represents the income tax effect of the pro forma adjustments and other pro
forma adjustments at an estimated statutory rate of 37.5% (not including
adjustments for non-deductible goodwill), except item d, where the tax
effect was approximately 2% (the rate at which taxes were provided on the
related gain).

(f) Represents net increase in interest expense relating to the following--

Zero Coupon Convertible Notes- accretion to principal
(2.5%).................................................... $ 23
Medium Term Note (8.125%)................................... 53
Borrowings under $650 million term loan agreement........... 41
Term Note (7.4%)............................................ (19)
----
Total change in interest expense........................ $ 98
====

(g) Represents reduction in preferred stock dividends resulting from conversion
of PRIDE's to equity.

(h) No adjustment has been made to reduce interest expense for interest income
on the incremental cash raised through the Financing activities of $1,587.
Assuming the incremental cash was invested at 5 percent, Cendant's current
rate for cash investments, interest expense would have been reduced by $79.
Additionally, income from continuing operations and income per share from
continuing operations would have improved by $49 and $0.06, respectively.

(i) Represents the issuance of Cendant common stock of 61 million shares and
46 million shares relating to the PRIDE conversion and equity issuance,
respectively.

* * * * * * *

AVIS SUPPLEMENTAL PRO FORMA FINANCIAL INFORMATION

The accompanying Supplemental Unaudited Pro Forma Condensed Combined Statement
of Operations was prepared to reflect the historical consolidated financial
statements of Avis excluding the PHH Europe Transaction as set forth in the
accompanying Supplemental Notes to the Unaudited Pro Forma Condensed Combined
Statement of Operations. Avis will receive an annual license fee in connection
with the PHH Europe Transaction from the Joint Venture for the license of the
PHH fleet management technology, PHH interactive. Avis utilized the proceeds of
the PHH Europe Transaction to reduce Avis' indebtedness and pay transaction
costs.

SUPPLEMENTAL UNAUDITED PRO FORMA
CONDENSED COMBINED STATEMENT OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2000
(IN MILLIONS)

HISTORICAL PHH EUROPE PRO FORMA ADJUSTED
AVIS TRANSACTION(A) ADJUSTMENTS AVIS
---------- -------------- ----------- --------

REVENUES
Service fees, net.............................. $ 241 $ (86) $ -- $ 155
Vehicle rental................................. 2,467 -- -- 2,467
Vehicle leasing and other fees................. 1,389 (73) -- 1,316
Other.......................................... 146 -- 5b 151
------ ----- ---- ------
Net revenues..................................... 4,243 (159) 5 4,089

EXPENSES
Direct operating............................... 966 -- -- 966
Vehicle depreciation and lease charges......... 1,695 (24) -- 1,671
Selling, general and administrative............ 693 (56) -- 637
Interest, net.................................. 577 (37) (58)c 482
Depreciation and amortization.................. 89 (12) (3)d 74
Other charges--Restructuring and unusual....... -- -- -- --
Litigation settlement............ -- -- -- --
Investigation related............ -- -- -- --
------ ----- ---- ------
Total expenses................................... 4,020 (129) (61) 3,830

Net gain on disposition of businesses............ -- -- --
------ ----- ---- ------
INCOME (LOSS) BEFORE INCOME TAXES AND MINORITY
INTEREST....................................... 223 (30) 66 259
Provision (benefit) for income taxes............. 95 (3) 25e 117
Minority interest................................ 7 -- -- 7
------ ----- ---- ------
INCOME (LOSS) FROM CONTINUING OPERATIONS......... $ 121 $ (27) $ 41 $ 135
====== ===== ==== ======

See accompanying Notes to Supplemental Unaudited Pro Forma Condensed Combined
Financial Statements.

SUPPLEMENTAL NOTES TO UNAUDITED PRO FORMA

CONDENSED COMBINED FINANCIAL STATEMENTS
(IN MILLIONS)

(a) Represents the adjustment to pro forma the results of operations of PHH
Europe for the year ended December 31, 2000. This adjustment assumes that
the PHH Europe Transaction occurred on January 1, 2000.

(b) Fleet management technology fee income and the equity in the earnings of
the joint venture, formed pursuant to the PHH Europe Transaction for the
year ended December 31, 2000, net of amortization of the excess of cost
over the assets acquired.

(c) Interest reduction as a result of the retirement of acquisition debt and
revolving credit facilities related to the application of proceeds of
$1,053 from the PHH Europe Transaction.

(d) Decrease in amortization expense relating to goodwill generated from the
PHH Europe Transaction, net of reversal of PHH Europe goodwill.

(e) Represents the income tax effect of the pro forma adjustments at an
estimated statutory rate of 39% (not including adjustments for
non-deductible goodwill).