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  Cendant Corporation Form 8-K dated February 15, 2005
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  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=left>&nbsp;</DIV>
  <DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><FONT
  style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><STRONG>UNITED
  STATES</STRONG></FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><FONT
  style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><STRONG>SECURITIES
  AND EXCHANGE COMMISSION</STRONG></FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>WASHINGTON,
  D.C. 20549</STRONG></FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><BR></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">____________</FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=left>&nbsp;</DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><FONT
  style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman"><STRONG>Form
  8-K</STRONG></FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><BR></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
  REPORT </FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PURSUANT
  TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">____________</FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=left>&nbsp;</DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of
  Report (Date of earliest event reported)</FONT><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>&nbsp;</STRONG></FONT><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>February
  16, 2005 (February 15, 2005)</U></STRONG></FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><BR></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><BR></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><FONT
  style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman"><STRONG>Cendant
  Corporation</STRONG></FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><EM>(Exact
  name of Registrant as specified in its charter)</EM></FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=left><BR></DIV>
  <DIV align=left>
  <TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>
    <TR>
      <TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top align=middle
      width="23%">
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=center>&nbsp;</DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=center><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Delaware</STRONG></FONT></DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=center><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><EM>(State
        or other jurisdiction</EM></FONT></DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=center><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><EM>of
        incorporation)</EM></FONT></DIV></TD>
      <TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top align=middle
      width="28%">
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=center>&nbsp;</DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=center><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>1-10308</STRONG></FONT></DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=center><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><EM>(Commission
        File No.)</EM></FONT></DIV></TD>
      <TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top align=middle
      width="24%">
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=center>&nbsp;</DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=center><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>06-0918165</STRONG></FONT></DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=center><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><EM>(I.R.S.
        Employer</EM></FONT></DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=center><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><EM>Identification
        Number)</EM></FONT></DIV></TD></TR>
    <TR>
      <TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top align=middle
      width="23%">
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=center>&nbsp;</DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=center><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>9
        West 57</STRONG></FONT><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><SUP><STRONG>th</STRONG></SUP></FONT><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>
        Street</STRONG></FONT></DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=center><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>New
        York, NY</STRONG></FONT></DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=center><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><EM>(Address
        of principal </EM></FONT></DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=center><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><EM>executive
        office)</EM></FONT></DIV></TD>
      <TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top align=middle
      width="28%">&nbsp;</TD>
      <TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top align=middle
      width="24%">
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=center>&nbsp;</DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=center>&nbsp;</DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=center><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>10019</STRONG></FONT></DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=center><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><EM>(Zip
        Code)</EM></FONT></DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=center>&nbsp;</DIV></TD></TR></TABLE></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><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registrant's
  telephone number, including area code </FONT><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>&nbsp;</STRONG></FONT><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG><U>(212)
  413-1800</U></STRONG></FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><BR></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>None</STRONG></FONT></DIV>
  <DIV>
  <TABLE cellSpacing=0 cellPadding=0 width="100%">
    <TR>
      <TD vAlign=top align=middle width="46%">
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=center><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Former
        name or former address if changed since last
  report)</FONT></DIV></TD></TR></TABLE></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><BR></DIV>
  <DIV>
  <TABLE cellSpacing=0 cellPadding=0 width="100%">
    <TR>
      <TD vAlign=center align=left width="86%">
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=justify><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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:</FONT></DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=justify>&nbsp;</DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=left><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[&nbsp;&nbsp;]
        Written communications pursuant to Rule 425 under the Securities Act (17
        CFR 230.425)</FONT></DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=justify><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[&nbsp;&nbsp;]
        Soliciting material pursuant to Rule 14a-12 under the Securities Act (17
        CFR 240.14a-12)</FONT></DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=justify><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[&nbsp;&nbsp;]
        Pre-commencement communications pursuant to Rule 14d-2(b) under the
        Exchange Act (17 CFR 240.14d-2(b))</FONT></DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=left><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[&nbsp;&nbsp;]
        Pre-commencement communications pursuant to Rule 13e-4(c) under the
        Exchange Act (17 CFR 240.13e-4(c))</FONT></DIV></TD></TR></TABLE></DIV>
  <DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
  <DIV id=FTR>
  <DIV id=GLFTR style="WIDTH: 100%" align=left>
  <DIV><FONT
  style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">
  <DIV>
  <HR align=left width="100%" color=#c0c0c0 noShade SIZE=1>
  </DIV>
  <DIV>
  <HR align=left width="100%" color=#808080 noShade SIZE=2>
  </DIV></FONT></DIV>
  <DIV>&nbsp;</DIV></DIV></DIV>
  <DIV id=PN style="PAGE-BREAK-AFTER: always">
  <DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
  style="DISPLAY: inline; FONT-SIZE: 8pt" face="Times New Roman"></FONT></DIV>
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  <HR color=#000000 noShade SIZE=2>
  </DIV></DIV>
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  <DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
  style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></DIV>
  <DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
  <DIV id=FTR>&nbsp;</DIV></DIV>
  <DIV>
  <TABLE cellSpacing=0 cellPadding=0 width="100%">
    <TR>
      <TD vAlign=top align=left width="11%">
        <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: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Item
        7.01</STRONG></FONT></DIV></TD>
      <TD vAlign=top align=left width="69%">
        <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: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Regulation
        FD Disclosure. </STRONG></FONT></DIV></TD></TR></TABLE></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=left><FONT id=TAB1 style="MARGIN-LEFT: 36pt"></FONT><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
  February 15, 2005, we announced the initial public offering of 100% of the
  outstanding common stock (40,000,000 shares) of our wholly owned Wright Express
  subsidiary. The offering was priced at $18.00 per share. All 40,000,000 shares
  of common stock are being sold by us. The common stock will begin trading on the
  New York Stock Exchange under the symbol &#8220;WXS&#8221; on February 16, 2005. The
  completion of the initial public offering is scheduled for Tuesday, February 22,
  2005, subject to customary closing conditions. </FONT></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: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=left><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Upon
  closing, we will receive approximately $1 billion of proceeds from the
  disposition of Wright Express (net of offering expenses), including a special
  dividend of approximately $300 million from Wright Express. We will use the
  proceeds and dividend to fund the acquisitions of eBookers and Gullivers Travel
  Associates, expected to be completed on March 1 and April 1, 2005, respectively.
  Cendant expects to record a gain on the sale in the range of $150 million to
  $190 million, or $0.13 to $0.17 per share, in the first quarter of
  2005.&nbsp;Such gain and the operations of Wright Express will be required to be
  presented as a discontinued operation in first quarter 2005. The tax liability
  resulting from the gain on sale of Wright Express will be offset by the
  utilization of the Company&#8217;s existing net operating loss
  carryforwards.</FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=left><BR></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=left><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A copy of
  the prospectus relating to the shares of Wright Express common stock may be
  obtained, when available, from J.P. Morgan Securities Inc., Prospectus
  Department, One Chase Manhattan Plaza, New York, NY 10081 (Telephone: (212)
  552-5164); Credit Suisse First Boston LLC, Prospectus Department, One Madison
  Avenue, Level 1B, New York, New York 10010 by faxing a request to (212)
  325-8057; or Merrill Lynch &amp; Co. at 4 World Financial Center, New York, New
  York 10080 (Telephone: (212) 449-1000).</FONT></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: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=left><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
  Current Report on Form 8-K shall not constitute an offer to sell or the
  solicitation of an offer to buy nor shall there be any sale of the shares of
  Wright Express common stock in any state in which such offer, solicitation or
  sale would be unlawful prior to registration or qualification under the
  securities laws of any such state.</FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=left><BR></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=left><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Statements
  about future results made in this Item constitute forward-looking statements
  within the meaning of the Private Securities Litigation Reform Act of 1995.
  These statements are based on current expectations and the current economic
  environment. We caution that these statements are not guarantees of future
  performance. Actual results may differ materially from those expressed or
  implied in the forward-looking statements. Important assumptions and other
  important factors that could cause actual results to differ materially from
  those in the forward-looking statements are specified in our Quarterly Report on
  Form 10-Q for the quarterly period ended September 30, 2004.</FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; 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><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT><FONT
  id=TAB2 style="COLOR: black; LETTER-SPACING: 27pt">&nbsp;</FONT><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A copy of
  the press release announcing the pricing of the Wright Express Initial Public
  Offering is attached as </FONT><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><U>Exhibit
  99.1</U></FONT><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> to this
  Form 8-K and is incorporated by reference herein.</FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=justify><BR></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=left><FONT id=TAB1 style="MARGIN-LEFT: 36pt"></FONT></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: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Item
  9.01 Financial Statements and Exhibits.</STRONG></FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=left><BR></DIV>
  <DIV>
  <TABLE id=list cellSpacing=0 cellPadding=0 width="100%">
    <TR style="LINE-HEIGHT: 1.25" vAlign=top>
      <TD style="WIDTH: 72pt" align=right><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)&nbsp;&nbsp;</FONT></TD>
      <TD>
        <DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
        align=justify><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibits</FONT></DIV></TD></TR></TABLE></DIV>
  <DIV>
  <TABLE cellSpacing=0 cellPadding=0 width="100%">
    <TR>
      <TD vAlign=top width="8%">&nbsp;</TD>
      <TD vAlign=top width="2%">&nbsp;</TD>
      <TD vAlign=top width="69%">&nbsp;</TD></TR>
    <TR>
      <TD vAlign=top width="8%">
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 3.1pt"
        align=justify><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1</FONT></DIV></TD>
      <TD vAlign=top width="2%">&nbsp;</TD>
      <TD vAlign=top width="69%">
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 3.1pt"
        align=justify><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
        Release, dated February 15, 2005.</FONT></DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 3.1pt"
        align=justify>&nbsp;</DIV></TD></TR></TABLE></DIV>
  <DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
  <DIV id=FTR>
  <DIV id=GLFTR style="WIDTH: 100%" align=left><FONT
  style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>
  <DIV id=PN style="PAGE-BREAK-AFTER: always">
  <DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
  style="DISPLAY: inline; FONT-SIZE: 8pt" face="Times New Roman"></FONT></DIV>
  <DIV style="WIDTH: 100%; TEXT-ALIGN: center">
  <HR color=#000000 noShade SIZE=2>
  </DIV></DIV>
  <DIV id=HDR>
  <DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
  style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></DIV>
  <DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
  <DIV id=FTR>&nbsp;</DIV></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 36pt"
  align=center><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>SIGNATURE</STRONG></FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><BR></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=justify><FONT id=TAB1 style="MARGIN-LEFT: 36pt"></FONT><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.</FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=justify><BR></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=justify><BR></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=justify><BR></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=justify><BR></DIV>
  <DIV>
  <TABLE cellSpacing=0 cellPadding=0 width="100%">
    <TR>
      <TD vAlign=top width="40%">&nbsp;</TD>
      <TD vAlign=top width="40%">
        <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: 10pt; FONT-FAMILY: Times New Roman"><STRONG>CENDANT
        CORPORATION</STRONG></FONT></DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=justify>&nbsp;</DIV>
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=justify><FONT id=TAB1 style="MARGIN-LEFT: 27pt"></FONT></DIV></TD></TR>
    <TR>
      <TD vAlign=top align=right width="40%">
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
        align=right><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:</FONT></DIV></TD>
      <TD style="BORDER-BOTTOM: black double" vAlign=top width="40%">
        <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: 10pt; FONT-FAMILY: Times New Roman">/s/
        Eric J. Bock</FONT></DIV></TD></TR>
    <TR>
      <TD vAlign=top width="40%">&nbsp;</TD>
      <TD vAlign=top width="40%">
        <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: 10pt; FONT-FAMILY: Times New Roman">Eric
        J. Bock</FONT></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: 10pt; FONT-FAMILY: Times New Roman">Executive
        Vice President, Law </FONT></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: 10pt; FONT-FAMILY: Times New Roman">And
        Corporate Secretary</FONT></DIV></TD></TR></TABLE></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=justify><BR></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG></STRONG></FONT>&nbsp;</DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=justify><BR></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG></STRONG></FONT>&nbsp;</DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=justify><FONT id=TAB1 style="MARGIN-LEFT: 288pt"></FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=justify><BR></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=justify><BR></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: 10pt; FONT-FAMILY: Times New Roman">Date:
  February 16, 2005</FONT><FONT id=TAB2
  style="COLOR: black; LETTER-SPACING: 279pt">&nbsp;</FONT></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: 10pt; FONT-FAMILY: Times New Roman"><STRONG></STRONG></FONT>&nbsp;</DIV>
  <DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
  <DIV id=FTR>
  <DIV id=GLFTR style="WIDTH: 100%" align=left><FONT
  style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>
  <DIV id=PN style="PAGE-BREAK-AFTER: always">
  <DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
  style="DISPLAY: inline; FONT-SIZE: 8pt" face="Times New Roman"></FONT></DIV>
  <DIV style="WIDTH: 100%; TEXT-ALIGN: center">
  <HR color=#000000 noShade SIZE=2>
  </DIV></DIV>
  <DIV id=HDR>
  <DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
  style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG></STRONG></FONT>&nbsp;</DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>CENDANT
  CORPORATION</STRONG></FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>CURRENT
  REPORT ON FORM 8-K</STRONG></FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Report
  Dated February 16, 2005 (February 15, 2005)</STRONG></FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=justify><BR></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=center><FONT
  style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>EXHIBIT
  INDEX</STRONG></FONT></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=justify><BR></DIV>
  <DIV>
  <TABLE cellSpacing=0 cellPadding=0 width="100%">
    <TR>
      <TD vAlign=top width="8%">&nbsp;</TD>
      <TD vAlign=top width="2%">&nbsp;</TD>
      <TD vAlign=top width="69%">&nbsp;</TD></TR>
    <TR>
      <TD vAlign=top width="8%">
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 3.1pt"
        align=justify><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1</FONT></DIV></TD>
      <TD vAlign=top width="2%">&nbsp;</TD>
      <TD vAlign=top width="69%">
        <DIV
        style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 3.1pt"
        align=justify><FONT
        style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
        Release, dated February 15, 2005.</FONT></DIV></TD></TR></TABLE></DIV>
  <DIV
  style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
  align=left><BR></DIV></DIV></BODY></HTML>
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metadata_filer: {"company-data": {"conformed-name": "CENDANT CORP", "cik": "0000723612", "assigned-sic": "6531", "irs-number": "060918165", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-10308", "film-number": "05621936"}, "business-address": {"street1": "9 WEST 57TH STREET", "city": "NEW YORK", "state": "NY", "zip": "10019", "phone": "2124131800"}, "mail-address": {"street1": "9 WEST 57TH STREET", "city": "NEW YORK", "state": "NY", "zip": "10019"}, "former-company": [{"former-conformed-name": "CUC INTERNATIONAL INC /DE/", "date-changed": "19920703"}, {"former-conformed-name": "COMP U CARD INTERNATIONAL INC", "date-changed": "19870914"}]}
text: Cendant Corporation Form 8-K dated February 15, 2005
  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)
  February
  16, 2005 (February 15, 2005)
  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 Securities 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.
  On
  February 15, 2005, we announced the initial public offering of 100% of the
  outstanding common stock (40,000,000 shares) of our wholly owned Wright Express
  subsidiary. The offering was priced at $18.00 per share. All 40,000,000 shares
  of common stock are being sold by us. The common stock will begin trading on the
  New York Stock Exchange under the symbol "WXS" on February 16, 2005. The
  completion of the initial public offering is scheduled for Tuesday, February 22,
  2005, subject to customary closing conditions.
  Upon
  closing, we will receive approximately $1 billion of proceeds from the
  disposition of Wright Express (net of offering expenses), including a special
  dividend of approximately $300 million from Wright Express. We will use the
  proceeds and dividend to fund the acquisitions of eBookers and Gullivers Travel
  Associates, expected to be completed on March 1 and April 1, 2005, respectively.
  Cendant expects to record a gain on the sale in the range of $150 million to
  $190 million, or $0.13 to $0.17 per share, in the first quarter of
  2005. Such gain and the operations of Wright Express will be required to be
  presented as a discontinued operation in first quarter 2005. The tax liability
  resulting from the gain on sale of Wright Express will be offset by the
  utilization of the Company's existing net operating loss
  carryforwards.
  A copy of
  the prospectus relating to the shares of Wright Express common stock may be
  obtained, when available, from J.P. Morgan Securities Inc., Prospectus
  Department, One Chase Manhattan Plaza, New York, NY 10081 (Telephone: (212)
  552-5164); Credit Suisse First Boston LLC, Prospectus Department, One Madison
  Avenue, Level 1B, New York, New York 10010 by faxing a request to (212)
  325-8057; or Merrill Lynch & Co. at 4 World Financial Center, New York, New
  York 10080 (Telephone: (212) 449-1000).
  This
  Current Report on Form 8-K shall not constitute an offer to sell or the
  solicitation of an offer to buy nor shall there be any sale of the shares of
  Wright Express common stock in any state in which such offer, solicitation or
  sale would be unlawful prior to registration or qualification under the
  securities laws of any such state.
  Statements
  about future results made in this Item constitute forward-looking statements
  within the meaning of the Private Securities Litigation Reform Act of 1995.
  These statements are based on current expectations and the current economic
  environment. We caution that these statements are not guarantees of future
  performance. Actual results may differ materially from those expressed or
  implied in the forward-looking statements. Important assumptions and other
  important factors that could cause actual results to differ materially from
  those in the forward-looking statements are specified in our Quarterly Report on
  Form 10-Q for the quarterly period ended September 30, 2004.
  A copy of
  the press release announcing the pricing of the Wright Express Initial Public
  Offering is attached as
  Exhibit
  99.1
  to this
  Form 8-K and is incorporated by reference herein.
  Item
  9.01 Financial Statements and Exhibits.
  (c)
  Exhibits
  99.1
  Press
        Release, dated February 15, 2005.
  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/
        Eric J. Bock
  Eric
        J. Bock
  Executive
        Vice President, Law
  And
        Corporate Secretary
  Date:
  February 16, 2005
  CENDANT
  CORPORATION
  CURRENT
  REPORT ON FORM 8-K
  Report
  Dated February 16, 2005 (February 15, 2005)
  EXHIBIT
  INDEX
  99.1
  Press
        Release, dated February 15, 2005.