SPARKS, MD – PHH InterActive Community, the fleet management industry's first secure social networking capability, 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 InterActive Community is a service offered by PHH Arval, a subsidiary of PHH Corporation.

In 2008, PHH Arval launched the Community within its B2B website. The business purpose: Provide an easy-to-use forum for client company managers to network with each other and experts at PHH, find out what everyone else is doing on key fleet issues, ask questions and solicit information, and exchange ideas and share information with others who understand their fleet management challenges.

In addition to participating in the Community, clients have the option to "subscribe" to the Community and have information about specific topics pushed to them via email. This enables them to see what others are saying about a topic of interest without having to check continually with the website. Specific forums include policy and best practices, fuel, the environment, PHH InterActive, and trucks.

According to Tony Vinciguerra, Vice President, Product Management, "Clients have responded enthusiastically to this social networking capability. They tell us they are getting great benefits from 'talking' with their peers in other companies about specific fleet management issues and questions. Having a closed secure environment allows our clients to share freely and protects them from unwanted sales efforts on the part of vendors. And it's a great way to 'listen' to what clients are saying about our services and their future needs."

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 Monday, June 22 in New York's Marriott Marquis Hotel.

About 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 States¹, 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.