PHH GreenFleet is finalist in Stevie Awards

Environmental program reduces greenhouse gas emissions and fleet costs

May 15, 2008 - PHH GreenFleet, the fleet management industry’s most comprehensive program to reduce greenhouse gas emissions, has been named as a finalist in the “Best New Product or Service” category by The American Business Awards, also known as the “Stevie” Awards. PHH GreenFleet is a service offered by PHH Arval, a subsidiary of PHH Corporation [NYSE: PHH].

PHH GreenFleet takes a common-sense approach to helping corporations meet their own corporate environmental goals. The program helps clients reduce GHG emissions from company vehicles and offers options for making their fleets completely climate-neutral. Developed by PHH Arval, a leading fleet management company that provides services to thousands of corporations and businesses, and Environmental Defense Fund, one of the nation’s leading environmental organizations, PHH GreenFleet helps clients:

• Measure and report on greenhouse gas emissions to demonstrate progress over time.
  
• Implement improvements in fleet vehicle selection that result in increased efficiency and lower emissions. 
  
• Improve vehicle use through driver training, telematics, and improved preventive maintenance.
  
• Offset remaining emissions by investing in credible, third party verified greenhouse gas reduction projects.

To date, more than 60,000 vehicles managed by PHH Arval have utilized the program’s tools.  Fleets that have fully implemented the program have reduced their emissions on average by 14% and lifecycle operating costs by 4%.

Hailed as “the business world’s own Oscars” (New York Post, April 27, 2005), The American Business Awards is the only national, independent business awards program honoring organizations of all types – public and private, for-profit and non-profit, large and small. Nicknamed “the Stevies” for the Greek word “crowned,” winners will be announced during the annual gala on Thursday, June 12, 2008 at a nationally broadcast ceremony in New York City.

PHH Arval
PHH Arval, a subsidiary of PHH Corporation [NYSE: PHH], is a leading fleet management services provider in the United States and Canada. PHH Arval provides outsourced fleet management solutions to corporate clients, including nearly one-third of the Fortune 500 companies. Through consultative expertise, flexible customer service, and award-winning internet technology, PHH Arval helps clients reduce costs and increase productivity. For more information, visit www.phharval.com, or call 800 ONLY PHH.

About PHH Corporation
Headquartered in Mount Laurel, New Jersey, PHH Corporation is a leading outsource provider of mortgage and vehicle fleet management services. Its subsidiary, PHH Mortgage, is one of the top ten retail originators of residential mortgages in the United States(1), and its subsidiary, PHH Arval, is a leading fleet management services provider in the United States and Canada. For additional information about the Company and its subsidiaries, please visit our website at www.phh.com.

(1) Inside Mortgage Finance, Copyright 2008