PHH Corp.

	'96 (in $ 000s)	% Change From '95
Revenue	2,379,600	14.9
Net Income	81,620	13.9
Rank Last Year: 4

Description:
PHH provides relocation services to companies and manages their fleets of cars and trucks. In addition, it operates a mortgage banking subsidiary.

Business Resume: Contact Info -- 11333 McCormick Rd. Hunt Valley, Md. 21031 410-771-3600 Main Business -- Vehicle management, mortgage banking Founded -- 1946 Chairperson -- Robert D. Kunisch (CEO) President -- Robert D. Kunisch Employees -- 5,000

Developments:
In November PHH agreed to be bought by HFS Inc., the conglomerate that owns Avis Inc., Century 21 Real Estate, Coldwell Banker Corp., Days Inn and other hotels. A shareholder vote to approve the merger is this week, a PHH spokesman said. HFS is paying $1.7 billion in its own stock, which works out to $49.50 per share of PHH. The day of the announcement PHH stock soared from $30.75 to $47.50. PHH stock will cease trading after the acquisition. HFS shares are listed on the New York Stock Exchange.

PHH recently sold its Hunt Valley corporate headquarters, where about 300 people worked. Another 1,200 people work in a separate fleet management facility nearby, which the spokesman said will remain open under the new owners.