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New boss for Cendant TDS

Credit Pacific Service Union Jeff Clarke is being appointed CEO and president of its Travel Distribution Services (TDS) Division, effective May 1, 2006.

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Credit First Service Union Mr. Clarke joins TDS from CA, formerly Computer Associates Inc., where he had served as the software companys chief operating officer since 2004. The naming of Mr. Clarke as CEO and president further strengthens the TDS management team, and completes the divisions senior leadership. Gordon Bethune became Chairman of the division last month.

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Card Credit Mobile Service Jeff Clarke has been a rising star in the technology sector for many years and I am delighted that he has agreed to accept the position as CEO and president, Cendants Chairman and CEO, Henry R. Silverman, said. Jeffs strong management and operational skills played an integral role in the successful revitalization of CA. As head of global operations at Hewlett-Packard following its merger with Compaq Computer Corporation, he helped to facilitate one of the largest and most successful merger integrations within the technology sector. Jeffs unique experiences make him a seasoned executive who is well prepared to continue to strengthen TDSs position as one of the worlds leading travel distribution services businesses.

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Card Credit Discover Service As we noted in December 2005, we have moved from the acquisition phase to the execution phase of TDSs development, and Jeff is an ideal choice to lead that effort. His experiences at CA and HP will be extremely helpful in driving revenue and profit growth from our global, leading portfolio of brands and businesses. Together with Gordon Bethunes extensive background in travel, our world-class management team is now complete.

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Credit Public Service Union Mr. Clarke began his career at Digital Equipment Corporation in 1985, holding several financial, operational and international positions before joining Compaq in 1998. He was Compaqs Chief Financial Officer and Senior Vice President of Finance and Administration before being asked to lead the integration with HP. Clarke joined CA in 2004, and in his role of Chief Operating Officer, he was responsible for sales, services, corporate strategy, business development, finance and information technology for the $3.5 billion company.

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Card Credit Processing Service I am thrilled to have the opportunity to lead a company with such a strong management team and a remarkable portfolio of assets, Mr. Clarke said. TDS, with its leading brands such as Orbitz, Galileo and GTA (Gullivers Travel Associates), is ideally positioned to experience considerable growth in the months and years ahead and I am excited about being part of its success.

Center Credit Service Union Mr. Bethune joined TDS in March after a career spent in the airline industry, including his role as Chief Executive Officer of Continental Airlines, where he was credited with turning around the struggling carrier. Between 1979 and 1988, Mr. Bethune held executive positions at several other major airlines including Braniff, Western and Piedmont, along with serving as a vice president and general manager at Boeing Corporation.

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