COLDWELL BANKER® CONTINUES SUCCESSFUL "TRUE STORIES" AD CAMPAIGN

Two New Inspirational National TV Spots Celebrate Coldwell Banker Sales Associates' Dedication to Their Customers

PARSIPPANY, NJ (Monday, March 28, 2005) - Coldwell Banker Real Estate Corporation, which will celebrate its 100th anniversary in 2006, today announced the launch of two new 30-second television spots in its "True Stories" ad campaign. The spots began airing this month in conjunction with the start of the busy spring real estate season.

The "True Stories" campaign, which began in 2004, focuses on the commitment Coldwell Banker® sales associates make to positively impact the lives of their customers. Coldwell Banker asked its sales force to submit "amazing, true stories" to be considered for the television campaign and received more than 1,000 entries. Coldwell Banker has now produced a total of four spots based on the real-life experiences of its sales associates.

The first new spot, "Web Site Wiz," portrays how recently transferred homebuyers utilized www.coldwellbanker.com, and the expertise of Anne Costa, a sales associate with Coldwell Banker Residential Brokerage in Mountain Lakes, N.J., to identify and eventually purchase a new home. The homebuyers easily search through online home listings and take virtual tours of properties before finding the home of their dreams. As the couple eyes their new home, the spot ends with the sales associate saying, "Now that's what I call a home page."

Vicky Chesna, known as the "Flying Realtor" at Coldwell Banker Residential Brokerage in Rockwall, Texas, is portrayed in the second new spot, dubbed "Airplane." After her clients left behind important papers several hundred miles away, Chesna flew her own plane to pick up and deliver the documents to a time-sensitive closing. As the spot comes to a close, the sales associate says from the plane's cockpit, "For my clients, the sky's the limit."

"These inspiring stories remind us that there is more to being a successful real estate sales associate than just the ability to close a sale," said Charlie Young, senior vice president of marketing, Coldwell Banker Real Estate Corporation. "Coldwell Banker sales associates have long been known for their outstanding customer service and for being an integral part of the home buying and selling process. We also wanted to properly showcase the important role www.coldwellbanker.com is playing for consumers."

The Kaplan Thaler Group of New York created the "True Stories" advertising campaign, and Jerry Brown directed the two new spots.

The new Coldwell Banker® commercials will run primarily on Sundays from March through July on all major networks on such popular primetime shows as "Extreme Makeover Home Edition" (ABC), "CSI Miami" (CBS) and "Law and Order" (NBC), along with NBC's popular weekday morning program "The Today Show." The spots will also appear on such notable cable networks as MSNBC, CNN, Fox News Channel, A & E, Discovery and Food Network. In addition to running the spots during quality news and entertainment programming, Coldwell Banker also will advertise during CBS broadcasts of high-profile golf tournaments.

Since 1906, the Coldwell Banker® organization has been a premier provider of full-service real estate. In 2004, Franchise Times magazine's prestigious Top 200 issue ranked Coldwell Banker number one in real estate and number eight among all franchisors. The Coldwell Banker System has more than 3,800 residential and commercial real estate offices and 123,900 Sales Associates in 28 countries and territories. The Coldwell Banker System is a leader in the industry in residential real estate, and in niche markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® division. It is a pioneer in consumer services with its Coldwell Banker Concierge® Service Program and award-winning Web site, www.coldwellbanker.com. Coldwell Banker Mortgage is one of the largest telephone/web based lenders in the country and the Coldwell Banker Commercial® network is an industry leader in providing commercial real estate solutions that serve the needs of tenants, landlords, sellers and buyers in the leasing, acquisition, disposition and management of all property types. Coldwell Banker Real Estate Corporation is a subsidiary of Cendant Corporation (NYSE: CD). © 2005 Coldwell Banker Real Estate Corporation Coldwell Banker® licensed to Coldwell Banker Real Estate Corporation. Each office is independently owned and operated except for offices owned and operated by NRT Incorporated.

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