Exhibit 99.2


NOTE REGARDING FORWARD-LOOKING STATEMENTS

Forward-looking statements in this Press Release dated July 18, 2001, are
subject to known and unknown risks, uncertainties and other factors which may
cause our actual results, performance or achievements to be materially different
from any future results, performance or achievements expressed or implied by
such forward-looking statements. These forward-looking statements were based on
various factors and were derived utilizing numerous important assumptions and
other important factors that could cause actual results to differ materially
from those in the forward-looking statements. Forward-looking statements include
the information concerning our future financial performance, business strategy,
projected plans and objectives.

Statements preceded by, followed by or that otherwise include the words
"believes", "expects", "anticipates", "intends", "project", "estimates",
"plans", "may increase", "may fluctuate" and similar expressions or future or
conditional verbs such as "will", "should", "would", "may" and "could" are
generally forward-looking in nature and not historical acts. You should
understand that the following important factors and assumptions could affect our
future results and could cause actual results to differ materially from those
expressed in such forward-looking statements:

o     the effect of economic conditions and interest rate changes on the economy
      on a national, regional or international basis and the impact thereof on
      our businesses;
o     the effects of changes in current interest rates, particularly on our real
      estate franchise and mortgage businesses;
o     the resolution or outcome of our unresolved pending litigation relating to
      the previously announced accounting irregularities and other related
      litigation;
o     our ability to develop and implement operational and financial systems to
      manage growing operations and to achieve enhanced earnings or effect cost
      savings;
o     competition in our existing and potential future lines of business and the
      financial resources of, and products available to, competitors;
o     our ability to integrate and operate successfully acquired and merged
      businesses and risks associated with such businesses, including the
      pending acquisition of Galileo and the acquisitions of Avis Group and
      Fairfield Communities, the compatibility of the operating systems of the
      combining companies, and the degree to which our existing administrative
      and back-office functions and costs and those of the acquired companies
      are complementary or redundant;
o     our ability to obtain financing on acceptable terms to finance our growth
      strategy and to operate within the limitations imposed by financing
      arrangements and rating agencies;
o     competitive and pricing pressures in the vacation ownership and travel
      industries, including the car rental industry;
o     changes in the vehicle manufacturer repurchase arrangements between
      vehicle manufacturers and Avis Group in the event that used vehicle values
      decrease; and
o     changes in laws and regulations, including changes in accounting standards
      and privacy policy regulation.

Other factors and assumptions not identified above were also involved in the
derivation of these forward-looking statements, and the failure of such other
assumptions to be realized as well as other factors may also cause actual
results to differ materially from those projected. Most of these factors are
difficult to predict accurately and are generally beyond our control.

You should consider the areas of risk described above in connection with any
forward-looking statements that may be made by us. Except for our ongoing
obligations to disclose material information under the federal securities laws,
we undertake no obligation to release publicly any revisions to any
forward-looking statements, to report events or to report the occurrence of
unanticipated events. For any forward-looking statements contained in any
document, we claim the protection of the safe harbor for forward-looking
statements contained in the Private Securities Litigation Reform Act of 1995.