A proposed partial class action settlement between the Class and Cendant Corporation (now known as Avis Budget, Inc. “Cendant”) and Richard A. Smith (“Smith”) is pending in the United States District Court for the Central District of California. If you purchased Homestore common stock during the period beginning January 1, 2000 through December 21, 2001, inclusive, your rights may be affected by this settlement. You should read the entire Notice of Pendency and Proposed Partial Settlement of Class Action carefully as it describes your legal rights.

You may download the Notice of Pendency and Proposed Partial Settlement of Class Action that describes your legal rights by clicking here.

For other current developments or additional information covering the settlement with Cendant and Smith and/or with Homestore and/or with the individual defendants, Shew, Giesecke, DeSimone, Kalina, Losh and Rosenblatt, and/or with PricewaterhouseCoopers LLP, and/or with Time Warner Inc., Max Worldwide, Inc., formerly known as L90, Inc., and Peter Tafeen, click here.

If you are a Class member, you have the following options:

You may file a Proof of Claim and Release form as described in the Notice of Pendency and Proposed Partial Settlement of Class Action. If you choose this option, you will remain a Class Member, you will share in the proceeds of the proposed settlement if your claim is timely and valid and if the proposed settlement is finally approved by the Court, and you will be bound by the Judgment and release as described in the Notice.

You may also appear and be heard at the Final Approval Hearing, as outlined in the Notice of Pendency and Proposed Partial Settlement of Class Action.

Deadline to File Notice of Intention to Appear - March 3, 2009
Any Class Member who objects to any aspect of the settlement, the Plan of allocation, or the application for reimbursement of costs and expenses, may appear and be heard at the Final Approval Hearing. Any such Person must submit a written notice of objection, received on or before March 3, 2009 as detailed on page 6 of the Notice of Pendency and Proposed Partial Settlement of Class Action.

Final Approval Hearing - March 16, 2009
A Final Approval Hearing will be held on March 16, 2009 at 10 a.m. before the Honorable Ronald S.W. Lew, United States District Judge.

Deadline to File a Claim - April 2, 2009
To participate in the distribution of the Net Settlement Fund, you must timely complete and return the Proof of Claim and Release form post-marked no later than April 2, 2009, establishing that you are entitled to recovery, and delivered to the Claims Administrator at the address indicated on the Proof of Claim and Release form. Unless the Court orders otherwise, you will be barred from receiving any payments from the Net Settlement Fund if you do not timely submit a valid Proof of Claim, but will in all other respects be bound by the provisions of the Stipulation and the Judgment.

If you previously submitted a timely and valid Request for Exclusion with regard to the settlement with Homestore and/or with the individual defendants, Shew, Giesecke, DeSimone, Kalina, Losh and Rosenblatt, you are not required to complete another Request for Exclusion. The information contained in that previously submitted, timely and valid Request for Exclusion will be considered timely and valid with regard to this additional settlement, as well.