EXHIBIT (a)(1)(L)

CENDANT CORPORATION COMPLETES TENDER OFFER FOR CHEAP TICKETS

New York, NY, 10-08-2001 -- Cendant Corporation (NYSE: CD) announced today the
successful completion of its cash tender offer, at $16.50 per share, for all
outstanding shares of common stock of Cheap Tickets, Inc. (Nasdaq: CTIX). The
tender offer expired at 12 a.m. EDT on Friday, October 5, 2001.

Cendant has been advised by Mellon Investor Services LLC, the depositary for the
tender offer, that as of the expiration of the tender offer more than 90 percent
of Cheap Tickets' issued and outstanding shares, had been tendered and not
withdrawn. All validly tendered shares have been accepted for purchase and
payment in accordance with the terms of the offer.

Cendant intends to complete the acquisition of Cheap Tickets through a merger on
or about October 9, 2001 in which all shares of common stock not validly
tendered and purchased in the tender offer will be converted into the right to
receive $16.50 per share in cash, without interest. The net purchase price is
approximately $280 million.

Cendant Corporation is primarily a provider of travel and residential real
estate services. With approximately 60,000 employees, New York City-based
Cendant provides these services to businesses and consumers 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).

Cheap Tickets is a leading seller of discount leisure travel products, with the
majority of sales derived from non-published and published airline tickets both
online and off-line.

Media Contact: Elliot Bloom 212-413-1832

Investor Contacts: Denise Gillen 212-413-1833

Sam Levenson: 212-413-1834