New Presidents for Snap-On and Cendant Real Estate Franchise Group <b></b>

Nov 17, 2000

* Kenosha, WI-Snap-On Inc. announced that Michael F.Montemurro was appointed president of Snap-on Dealer Group. He isresponsible for the successful operation of the Snap-on franchiseddealer business in the United States, Canada, Mexico, the UnitedKingdom, Japan, Australia and other regions of the world.

"The Dealer Group represents Snap-on's heritagebusiness and is critical to the company's future. We arecommitted to the long-term success of our dealers and the quality,value and knowledge they deliver to the marketplace," saidRobert A. Cornog, Snap-on chairman, president and CEO. "Thisappointment reinforces that ongoingcommitment."-PRNewswire

* Parsippany, NJ-The real estate division of CendantCorp. announced today that Century 21 president and CEO RobertMoles has been named CEO of the newly created Cendant Real EstateFranchise Group, an organizational change designed to acceleratethe growth of its real estate franchise systems, enhance theintegration of its internal functions and, ultimately, furtherstrengthen the division's leadership position in theresidential and commercial real estate industry.

"In his new role, Bob and his team will be focused onidentifying and maximizing internal and external growthopportunities within and among our real estate franchisesystems," explained Richard A. Smith, Candant real estatedivision chairman and CEO. "The Cendant Real Estate FranchiseGroup will identify opportunities to grow our individual networks,both organically and through mergers and acquisitions; increasemarket share and leverage the values of emerging technology for thebenefit of our franchised brokerages."-PRNewswire

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