CENDANT CORPORATION
                            SIGNIFICANT SUBSIDIARIES

                                                                    STATE OF
                    SUBSIDIARY                                    INCORPORATION

Cendant Operations, Inc.                                                DE     
HFS Car Rental Holdings, Inc.                                           DE     
Cendant Car Rental, Inc.                                                DE     
Wizard Co. Inc.                                                         DE     
PHH Corporation                                                         MD     
Cendant Mobility Services Corp.                                         DE     
Cendant Mortgage Corporation                                            NJ     
PHH Vehicle Management Services Corporation                             MD     
RCI General Holdco 1, Inc.                                              DE     
RCI General Holdco 2, Inc.                                              DE     
Resort Condominiums International, LLC                                  DE     
RCI Holdings One, Inc.                                                  DE     
TM Acquisition Corp.                                                    DE     
Ideon Group, Inc.                                                       DE     
FISI*Madison Financial Corporation                                      TN     
Benefit Consultants, Inc.                                               DE     
Entertainment Publications, Inc.                                        MI     
Cendant Membership Services, Inc. (includes Comp-U-Card div.)           DE     
Hebdo Mag Inc.                                                        Canada   
Cendant Software Corporation                                            DE     
Benefit Consultants Membership Inc.                                     DE     
Sierra On-Line, Inc.                                                    DE     
Davidson & Associates, Inc.                                             CA     
Advance Ross Corporation                                                DE     
Getko Group, Inc.                                                       NY