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ERA® REAL ESTATE EXPANDS WITH COMPANY AFFILIATIONS AND NEW BRANCH OFFICES NATIONWIDE Parsippany, NJ (July 9, 1999) – ERA Franchise Systems LLC announced today the recent affiliation of six new companies and the opening of 16 new branch offices in the United States, expanding its presence as a worldwide leader in residential real estate brokerages. Among the brokerages added through May 31st, four of the six new affiliates each account for more than $500,000 annual Gross Commission Income. The new franchises are:
"ERA is not only quickly becoming one of the nation's fastest growing real estate franchises, but also an industry leader in providing high quality products and services to homebuyers and sellers across the country," said Jack Frost, ERA Senior Vice President of Franchise Sales. "We are extremely pleased to have these new companies join the ERA global system and are confident they will play an integral role in the continued growth and success of ERA." Additionally, three newly affiliated companies recently opened their doors for business. They are ERA Dockside Properties, Inc., Key Largo, FL; ERA Premier Real Estate Associates, Sumner, WA; and ERA LL Realty, Fallon, NV. ERA Franchise Systems LLC, a subsidiary of Cendant Corporation (NYSE:CD), is a leader in the residential real estate industry with over 25 years experience in developing consumer-oriented products and services. The ERA Real Estate network includes more than 2,600 independently owned and operated brokerage offices with more than 29,000 brokers and sales associates throughout the United States and 19 other countries and territories. ERA is available to consumers on the Internet at www.era.com.
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