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Press Release

Take a Vacation from High College Costs

Upromise® Enhances Travel Program with Addition of Budget® Car Rental and New Cruise Service

Needham, MA Feb 1, 2005 -

Upromise Inc., the country's largest non-governmental service helping families save for college, today announced that it has expanded its travel offerings in the rental car and cruise categories. Upromise members can now save 4 percent for college by renting a car through Budget® Rent A Car. In addition, the loyalty program introduced Upromise Cruises, a service that helps members book cruises on the world’s most popular cruise lines, including Disney Cruise Line®. Members receive 3 percent back in their Upromise college savings accounts when using the new service to book a cruise.

“We’re pleased to strengthen our already solid base of Upromise travel partners and to expand our offerings to provide more comprehensive travel planning services,” said Michael Libenson, vice president of partner services for Upromise. “By simply booking their vacation travel with partners and services such as Budget or Upromise Cruises, families can save money for college – and find yet another reason to enjoy their family getaways.”

These enhancements come at a time when the travel industry is showing renewed strength according to forecasts from The Travel Industry Association of America. In 2005, business travel is expected to increase by over 3 percent to nearly 149 million trips while domestic leisure travel is expected to increase by almost 2 percent to nearly 1.2 million trips.

“Joining the Upromise network is a natural extension of the Budget focus on value and savings,” said Scott Deaver, executive vice president of marketing for Cendant Car Rental Group, parent of Budget. “Moreover, we are committed to education and very excited to help our customers save for college when they travel with Budget.”

These expanded offerings complement Upromise’s existing network of travel partners, which include American Airlines AAdvantage®, Avis Rent A Car, Travelocity, United Airlines and the Upromise Dining and Hotels by iDine programs. Upromise members can learn more about Budget Rent A Car, Upromise Cruises and other travel offerings by visiting upromise.com.

The Travel Industry Association of America, Annual Travel Forecast

About Upromise
Upromise is the country's largest non-governmental service helping families save for college. Membership is free and allows families to automatically save money for college while making everyday purchases at more than 20,000 grocery and drug stores, 14,000 gas stations, 9,000 restaurants, 10,000 hotel locations nationwide, thousands of retail stores and over 250 online shopping sites. Upromise's partners include America Online, Citi®, Coca-Cola®, Exxon Mobil Corporation, Kellogg Company, Kimberly-Clark, McDonald's®, SBC Communications, JCPenney.com, LandsEnd.com, llbean.com, sears.com, and hundreds of others. Upromise also makes it easy for families to invest in their own tax-advantaged college savings plan or use contributions to pay off student loans. The 529 college savings plans are offered through Upromise Investments, Inc. (member NASD/SIPC). Upromise is headquartered in Needham, MA. For additional information, visit upromise.com or call 781-707-8400.

About Budget

Budget Rent A Car System, Inc. is the owner and franchiser of one of the world's best-known car rental brands with more than 1,900 car rental locations in the U.S., Canada, Latin America, Caribbean, Australia and New Zealand. The company is a wholly owned subsidiary of Cendant Corporation (NYSE: CD), a diversified global provider of business and consumer services primarily within the travel and real estate sectors. For further information visit budget.com or cendant.com/media.


Alice Pereira
Senior Associate, Public Relations
Cendant Car Rental Group
6 Sylvan Way
Parsippany, NJ 07054
973-496-6113
alice.pereira@cendant.com

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