1. Cendant TDS Day Understanding Cendant Travel Distribution Services & How GTA Fits Into The Bigger Picture – Sales Focus 23 rd September 2005

2. Objectives To give you an overview of Cendant and the TDS businesses To give you an overview of the Galileo business To explain how we can work together on joint customer propositions +

3. Travel distribution industry model Business Travelers Suppliers  Airlines  Hotels  Car Rental  Vacation Rental  Tours  Rail  Cruises Connectivity Systems Global Distribution Systems Travel Agencies Offline Tour Wholesaler Online Direct Connect 1 Based on research from PhoCusWright, Thomas Weisel and Cendant Estimates $873 Billion 1 Leisure

4. PROVIDING A COMPETITIVE ADVANTAGE PHASE 4 Innovation PROVING CUSTOMER VALUE PHASE 3 Delivery PROVING CUSTOMER VALUE 20012002 - 20032004 - 20052006 onward INTEGRATION OF THE BUSINESSES PHASE 2 Alignment TDS: A brief history PHASE 1 Construction

5. TDS Provides All Pieces of the Jigsaw Business Travelers Suppliers  Airlines  Hotels  Car Rental  Vacation Rental  Tours  Rail  Cruises Connectivity Systems Global Distribution Systems Travel Agencies Offline Tour Wholesaler Online Direct Connect 1 Based on research from PhoCusWright, Thomas Weisel and Cendant Estimates $873 Billion 1 Leisure Connectivity Systems Travel Agencies Offline Tour Wholesaler Online Global Distribution Systems       

6. Deep Dive into the B2B Business

7. Client Segmentation – Who We Sell To Online Travel Agencies Travel Suppliers Travel Agents (Leisure & Corporate) Government & Industry

8. B2B Services – What We Sell ServiceBrand Product Name Global Distribution Service GALILEO Wholesale/Tour Operator gta, WBS, RBS Merchant Content / Consolidator / Retail TRAVEL 2 / TRAVEL 4 Hotel Inventory Mgmt, Res & Sales TRUST INTERNATIONAL Hotel CRS connectivity & switching WIZCOM

9. B2B Services ServiceBrand Product Name Orbitz Airline Supplier Link ORBITZ SUPPLIER LINK Airline/Agency Marketing Intelligence AGENT FLASH THOR Offers marketing, distribution and 24 hr emergency services TRAVEL BOUND FIT and Group travel to Travel Agencies

10. Focus on Galileo GDS How The Global Distribution System Works

11. Who is Galileo  Part of Cendant Corporation since 2001  UK’s leading GDS with 42% market share  Represented in 107 countries  Operates one of the world’s largest commercial data centres  21 servers in Denver - USA  Handles 175 million requests a day

12. How a GDS Works Schedules / Locations Fares / Rates Availability Real time booking Travel Agents Tour Operators Online Agents Travel Vendors e.g. Trailfinders & BTI e.g. Kuoni & Thomas Cook e.g. eBookers & Orbitz

13. Galileo Content – What Do We Sell? Agencies book products in the GDS from the content listed on behalf of vendors Hotels Car Rental Cruises Flights Car Ferry Crossings Package Holidays Car Parking Rail Tickets

14. Process – How We Sell To Leisure Agencies Travel Agent Consumers Agents Mark Up Brochure Contract Galileo Account Manager Travel agency revenue GDS Content Contract Travel Agent Brochure Financial Assistance

15. Galileo Key Competitors GDS Global New Entrants CRS

16. GTA & Galileo – Selling a Future Joint Proposition What TDS Means For You

17. Consider What We Had Until Recently Supply-Driven Distribution Inventory Supply Distribution Traveller Tour Operator/ Wholesaler Retailer

18. Consider What We Have Today – Galileo & GTA Demand-Driven Distribution Tour Operator/ Wholesaler Singles Couples Families Retailer/ Packager Supplier/ Retailer/ Packager Travel Club/ Credit Card/ Timeshare, etc Traveller Business Travellers Adventure Travellers Older Travellers

19. GTA & Galileo – Selling a Future Joint Proposition Over 20,000 directly contracted hotel and self-catering properties in more than 3,000 destinations Over 1,000,000 land services including, car transfers and regular sightseeing The complete package 43,000 travel agency locations 480 airlines 26 rental car companies 60,000 hotel properties 430 tour operators

20. A Preview Of The Future

21. How do we work together moving forward? 1. Customer Approach: How should a GTA salesperson bring Galileo into customer discussion? Take 45 minutes discussing the following 4 categories in your group Record your thoughts on the handout given Present back to the larger group 3. Lead Passing: At which point and in what way do I involve a Galileo salesperson? 2. Value Proposition: How does an integrated Galileo/GTA purchase benefit the customer? 4. Product Opportunities: What quick-win opportunities exist to integrate GTA/Galileo products?

22. What next? Q3 05Q4 05Q1 06Q2 06 Sales Planning and Development (SPD) will support the GTA integration and field adoption in the following ways: Development of the Galileo/GTA commercial offering Implementation of Siebel at GTA Consolidation of reports and design of an integrated business metrics strategy Development and communication of value proposition Development of a sales toolkit to support integrated sales (from pre-sale through close) Conduct internal needs analysis; interview key stakeholders Conduct market analysis (integrate customer data) to understand where opportunities lie Begin Siebel implementation Deliver commercial offering (end Sept) Release value propositions paired to customer types/ tiers (November) Release initial version of toolkit (end Dec) Release draft of metrics strategy and sample reports Release revised toolkit Release final report pack and metrics Release revised commercial offering (as needed) Complete Siebel implementation OPERATE and SELL!