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        Cendant Corporation 8-K dated March 14, 2006
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        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong>UNITED
          STATES</strong></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong>SECURITIES
          AND EXCHANGE COMMISSION</strong></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong>WASHINGTON,
          D.C. 20549</strong></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">____________</div>
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        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong><font style="DISPLAY: inline; FONT-SIZE: 20pt; FONT-FAMILY: Times New Roman">Form
          8-K</font></strong></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">CURRENT
          REPORT</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">PURSUANT
          TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
          1934</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">____________</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">Date
          of Report (Date of earliest event
          reported)<strong>&#160;</strong><strong><u>March 14, 2006 (March 14, 2006
          )</u></strong></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong><font style="DISPLAY: inline; FONT-SIZE: 30pt; FONT-FAMILY: Times New Roman">Cendant
          Corporation</font></strong></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><em>(Exact
          name of Registrant as specified in its
          charter)</em></div>
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                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong>Delaware</strong></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><em>(State
                    or other jurisdiction</em></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><em>of
                    incorporation)</em></div>
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                <td valign="top" width="25%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong>1-10308</strong></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><em>(Commission
                    File No.)</em></div>
                </td>
                <td valign="top" width="22%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong>06-0918165</strong></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><em>(I.R.S.
                    Employer</em></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><em>Identification
                    Number)</em></div>
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                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong>9
                    West
                    57</strong><sup><strong>th</strong></sup><strong> Street</strong></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong>New
                    York, NY</strong></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><em>(Address
                    of principal</em></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><em>executive
                    office)</em></div>
                </td>
                <td align="left" valign="top" width="25%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td valign="top" width="22%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong>10019</strong></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><em>(Zip
                    Code)</em></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
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        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">Registrant's
          telephone number, including area
          code<strong>&#160;</strong><strong><u>(212) 413-1800</u></strong></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong>None</strong></div>
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                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">(Former
                    name or former address if changed since last
                    report)</div>
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                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">Check
                    the appropriate box below if the Form 8-K filing is
                    intended to simultaneously satisfy the filing obligation of the
                    registrant
                    under any of the following provisions:</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">[&#160;&#160;]
                    Written communications pursuant to Rule 425
                    under the Securities Act (17 CFR 230.425)</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">[&#160;&#160;]
                    Soliciting material pursuant to Rule 14a-12
                    under the Exchange Act (17 CFR 240.14a-12)</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">[&#160;&#160;]
                    Pre-commencement communications pursuant to
                    Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">[&#160;&#160;]
                    Pre-commencement communications pursuant to
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                    240.13e-4(c))</div>
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                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Item
                      7.01</strong></font></div>
                  </td>
                  <td align="left" valign="top" width="62%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Regulation
                      FD Disclosure.</strong></font></div>
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          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Cendant
              Corporation anticipates that it will disclose to prospective lenders
              that its
              vehicle rental business is planning to issue an aggregate of approximately
              $1.0
              billion of eight- and ten-year senior unsecured notes due 2014 and 2016,
              respectively. Cendant's vehicle rental business is also planning to arrange
              for
              a new $2.375 billion secured credit facility that is expected to consist
              of a
              $1.5 billion five-year revolving credit facility and an $875 million
              six-year
              term loan. These financings are planned for the second quarter of 2006.
              Cendant's vehicle rental business intends to initially receive approximately
              $1.875 billion of gross proceeds from these financings, which will be
              used
              principally to repay asset-backed vehicle indebtedness.</font></div>
          </div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">These
            financings are part of Cendant's previously announced plan to separate
            Cendant
            into four independent, publicly traded, pure-play companies &#8212; one each for
            Cendant&#8217;s real estate, travel distribution, hospitality and vehicle rental
            businesses.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
            offering of the notes and the consummation of the credit facilities, including
            the terms thereof, are subject to market and other customary conditions.
            Therefore, no assurance can be given that these financings will be ultimately
            consummated as described or at all. These financings are not contingent
            upon the
            consummation of Cendant's planned separation transactions.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
            notes
            will be offered in the United States to qualified institutional buyers
            pursuant
            to Rule 144A under the Securities Act of 1933, as amended, and outside
            the
            United States pursuant to Regulation S under the Securities Act. The notes
            have
            not been registered under the Securities Act and may not be offered or
            sold in
            the United States absent registration or an applicable exemption from the
            registration requirements.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Forward-Looking
            Statements </strong></font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Certain
            statements in this report constitute &#8220;forward-looking statements&#8221; within the
            meaning of the Private Securities Litigation Reform Act of 1995. Such
            forward-looking statements involve known and unknown risks, uncertainties
            and
            other factors which may cause the actual results, performance or achievements
            of
            the Company to be materially different from any future results, performance
            or
            achievements expressed or implied by such forward-looking statements. Statements
            preceded by, followed by or that otherwise include the words &#8220;believes&#8221;,
  &#8220;expects&#8221;, &#8220;anticipates&#8221;, &#8220;intends&#8221;, &#8220;projects&#8221;, &#8220;estimates&#8221;, &#8220;plans&#8221;, &#8220;may
            increase&#8221;, &#8220;may fluctuate&#8221; and similar expressions or future or conditional
            verbs such as &#8220;will&#8221;, &#8220;should&#8221;, &#8220;would&#8221;, &#8220;may&#8221; and &#8220;could&#8221; are generally
            forward-looking in nature and not historical facts. Any statements that
            refer to
            expectations or other characterizations of future events, circumstances
            or
            results are forward-looking statements. The Company cannot provide any
            assurances that the separation or any of the proposed transactions related
            thereto will be completed, nor can it give assurances as to the terms on
            which
            such transactions will be consummated. The separation transactions are
            subject
            to certain conditions precedent, including final approval by the Board
            of
            Directors of Cendant. </font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Various
            risks that could cause future results to differ from those expressed by
            the
            forward-looking statements included in this report include, but are not
            limited
            to: risks inherent in the contemplated separation and related transactions,
            including risks related to borrowings and costs related to the proposed
            transactions; increased demands on Cendant&#8217;s management teams as a result of the
            proposed transactions;&#160;changes in business, political and economic
            conditions in the U.S. and in other countries in which Cendant and its
            companies
            currently do business; changes in governmental regulations and policies
            and
            actions of regulatory bodies; changes in operating performance; and access
            to
            capital markets and changes in credit ratings, including those that may
            result
            from the proposed transactions. Other unknown or unpredictable factors
            also
            could have material adverse effects on Cendant&#8217;s and its companies&#8217; performance
            or achievements. In light of these risks, uncertainties, assumptions and
            factors, the forward-looking events discussed in this report may not occur.
            You
            are cautioned not to place undue reliance on these forward-looking statements,
            which speak only as of the date stated, or if no date is stated, as of
            the date
            of this report. Important assumptions and other important factors that
            could
            cause actual results to differ materially from those in the forward looking
            statements are specified in Cendant&#8217;s 10-K for the year ended December 31, 2005,
            including under headings such as &#8220;Forward-Looking Statements&#8221;, &#8220;Risk Factors&#8221;
  and &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of
            Operations.&#8221; Except for the Company&#8217;s ongoing obligations to disclose material
            information under the federal securities laws, the Company undertakes no
            obligation to release any revisions to any forward-looking statements,
            to report
            events or to report the occurrence of unanticipated events unless required
            by
            law.<a name="id_0_5"/><a name="id_0_6">&#160;</a></font></div><a name="id_0_6"/></div>
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        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong>SIGNATURE</strong></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">Pursuant
          to the requirements of the Securities Exchange Act of
          1934, as amended, the registrant has duly caused this report to be signed
          on its
          behalf by the undersigned hereunto duly authorized.</div>
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                    CORPORATION</strong></div>
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                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">/s/
                    David B. Wyshner</div>
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                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">David
                    B. Wyshner</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">Executive
                    Vice President and
                    Treasurer</div>
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        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">Date:
          March 14, 2006</div>
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text: Cendant Corporation 8-K dated March 14, 2006
  UNITED
          STATES
  SECURITIES
          AND EXCHANGE COMMISSION
  WASHINGTON,
          D.C. 20549
  ____________
  Form
          8-K
  CURRENT
          REPORT
  PURSUANT
          TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
          1934
  ____________
  Date
          of Report (Date of earliest event
          reported)
  March 14, 2006 (March 14, 2006
          )
  Cendant
          Corporation
  (Exact
          name of Registrant as specified in its
          charter)
  Delaware
  (State
                    or other jurisdiction
  of
                    incorporation)
  1-10308
  (Commission
                    File No.)
  06-0918165
  (I.R.S.
                    Employer
  Identification
                    Number)
  9
                    West
                    57
  th
  Street
  New
                    York, NY
  (Address
                    of principal
  executive
                    office)
  10019
  (Zip
                    Code)
  Registrant's
          telephone number, including area
          code
  (212) 413-1800
  None
  (Former
                    name or former address if changed since last
                    report)
  Check
                    the appropriate box below if the Form 8-K filing is
                    intended to simultaneously satisfy the filing obligation of the
                    registrant
                    under any of the following provisions:
  [  ]
                    Written communications pursuant to Rule 425
                    under the Securities Act (17 CFR 230.425)
  [  ]
                    Soliciting material pursuant to Rule 14a-12
                    under the Exchange Act (17 CFR 240.14a-12)
  [  ]
                    Pre-commencement communications pursuant to
                    Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]
                    Pre-commencement communications pursuant to
                    Rule 13e-4(c) under the Exchange Act (17 CFR
                    240.13e-4(c))
  Item
                      7.01
  Regulation
                      FD Disclosure.
  Cendant
              Corporation anticipates that it will disclose to prospective lenders
              that its
              vehicle rental business is planning to issue an aggregate of approximately
              $1.0
              billion of eight- and ten-year senior unsecured notes due 2014 and 2016,
              respectively. Cendant's vehicle rental business is also planning to arrange
              for
              a new $2.375 billion secured credit facility that is expected to consist
              of a
              $1.5 billion five-year revolving credit facility and an $875 million
              six-year
              term loan. These financings are planned for the second quarter of 2006.
              Cendant's vehicle rental business intends to initially receive approximately
              $1.875 billion of gross proceeds from these financings, which will be
              used
              principally to repay asset-backed vehicle indebtedness.
  These
            financings are part of Cendant's previously announced plan to separate
            Cendant
            into four independent, publicly traded, pure-play companies — one each for
            Cendant's real estate, travel distribution, hospitality and vehicle rental
            businesses.
  The
            offering of the notes and the consummation of the credit facilities, including
            the terms thereof, are subject to market and other customary conditions.
            Therefore, no assurance can be given that these financings will be ultimately
            consummated as described or at all. These financings are not contingent
            upon the
            consummation of Cendant's planned separation transactions.
  The
            notes
            will be offered in the United States to qualified institutional buyers
            pursuant
            to Rule 144A under the Securities Act of 1933, as amended, and outside
            the
            United States pursuant to Regulation S under the Securities Act. The notes
            have
            not been registered under the Securities Act and may not be offered or
            sold in
            the United States absent registration or an applicable exemption from the
            registration requirements.
  Forward-Looking
            Statements
  Certain
            statements in this report constitute "forward-looking statements" within the
            meaning of the Private Securities Litigation Reform Act of 1995. Such
            forward-looking statements involve known and unknown risks, uncertainties
            and
            other factors which may cause the actual results, performance or achievements
            of
            the Company to be materially different from any future results, performance
            or
            achievements expressed or implied by such forward-looking statements. Statements
            preceded by, followed by or that otherwise include the words "believes",
  "expects", "anticipates", "intends", "projects", "estimates", "plans", "may
            increase", "may fluctuate" and similar expressions or future or conditional
            verbs such as "will", "should", "would", "may" and "could" are generally
            forward-looking in nature and not historical facts. Any statements that
            refer to
            expectations or other characterizations of future events, circumstances
            or
            results are forward-looking statements. The Company cannot provide any
            assurances that the separation or any of the proposed transactions related
            thereto will be completed, nor can it give assurances as to the terms on
            which
            such transactions will be consummated. The separation transactions are
            subject
            to certain conditions precedent, including final approval by the Board
            of
            Directors of Cendant.
  Various
            risks that could cause future results to differ from those expressed by
            the
            forward-looking statements included in this report include, but are not
            limited
            to: risks inherent in the contemplated separation and related transactions,
            including risks related to borrowings and costs related to the proposed
            transactions; increased demands on Cendant's management teams as a result of the
            proposed transactions; changes in business, political and economic
            conditions in the U.S. and in other countries in which Cendant and its
            companies
            currently do business; changes in governmental regulations and policies
            and
            actions of regulatory bodies; changes in operating performance; and access
            to
            capital markets and changes in credit ratings, including those that may
            result
            from the proposed transactions. Other unknown or unpredictable factors
            also
            could have material adverse effects on Cendant's and its companies' performance
            or achievements. In light of these risks, uncertainties, assumptions and
            factors, the forward-looking events discussed in this report may not occur.
            You
            are cautioned not to place undue reliance on these forward-looking statements,
            which speak only as of the date stated, or if no date is stated, as of
            the date
            of this report. Important assumptions and other important factors that
            could
            cause actual results to differ materially from those in the forward looking
            statements are specified in Cendant's 10-K for the year ended December 31, 2005,
            including under headings such as "Forward-Looking Statements", "Risk Factors"
  and "Management's Discussion and Analysis of Financial Condition and Results of
            Operations." Except for the Company's ongoing obligations to disclose material
            information under the federal securities laws, the Company undertakes no
            obligation to release any revisions to any forward-looking statements,
            to report
            events or to report the occurrence of unanticipated events unless required
            by
            law.
  SIGNATURE
  Pursuant
          to the requirements of the Securities Exchange Act of
          1934, as amended, the registrant has duly caused this report to be signed
          on its
          behalf by the undersigned hereunto duly authorized.
  CENDANT
                    CORPORATION
  By:
  /s/
                    David B. Wyshner
  David
                    B. Wyshner
  Executive
                    Vice President and
                    Treasurer
  Date:
          March 14, 2006