PHH Arval Unveils Industry's First Telematics-Powered Fleet Service
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SPARKS, Md., Dec. 6 -- PHH Arval, a subsidiary of PHH Corporation (NYSE:PHH), today announced the general availability of PHH Onboard(SM), the first service for vehicle fleets that integrates telematics data with comprehensive fleet information and consultation. The service reduces costs, increases driver safety and productivity, and enhances the performance of critical business assets.
PHH Onboard gives fleet managers the opportunity to reduce fuel costs by 10%, idling time by 25%, and unauthorized use by 100%, and to eliminate driver behaviors that cause accidents and increase risk. PHH Arval clients have been beta-testing the service for several months and have found that PHH Onboard can eliminate speeding over company policy, capture accurate odometer readings, and reduce fuel expenses.
PHH Arval developed PHH Onboard to help businesses and organizations more effectively manage their fleets. PHH Onboard combines the following elements in a service unavailable from any other provider:
-- Advanced telematics provided by Networkcar
(http://www.networkcar.com/), installed in the vehicle for remote
monitoring of vehicle performance, location, and security.
-- Real-time, Internet-based vehicle performance and risk management
reporting based on telematics information integrated with over 12
years of industry and vehicle data stored in PHH's comprehensive data
warehouse.
-- Fleet management consulting expertise that provides data analysis,
policy development, benchmarking, metrics, and recommendations that
result in more informed decisions, more effective negotiations with
maintenance suppliers, and more proactive identification of exceptions
to client policies.
According to Paige O'Neill, PHH Arval's Senior Vice President of Marketing and Product Development, "The future of fleet management will be driven by new and innovative combinations of technology and information, made actionable through consulting expertise. PHH Onboard is a first for the fleet management industry, and it's changing the way our clients manage their fleets by enabling them to be proactive instead of reactive. Our beta clients are also finding that the savings in fuel and the reduced accident rates more than justify the initial cost of the service."
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are subject to known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans," "may increase," "may fluctuate" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could" are generally forward-looking in nature and not historical facts.
You should consider the areas of risk described under the heading "Forward-Looking Statements" in our periodic reports under the Securities Exchange Act of 1934 as amended, and those risk factors included as Exhibit 99 thereto titled "Risk Factors Affecting our Business and Future Results," in connection with any forward-looking statements that may be made by us and our businesses generally. Except for our ongoing obligations to disclose material information under the federal securities laws, we undertake no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events unless required by law.
About PHH Arval
PHH Arval is the second largest commercial fleet management company(2) in North America. PHH Arval provides outsourced fleet management solutions to corporate clients, including nearly one-third of the Fortune 500 companies, and government agencies. 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 the second-largest fleet management services provider in the United States and Canada(2). For additional information about the company and its subsidiaries please visit our Web site at http://www.phh.com/.
(1) Inside Mortgage Finance, November 2005
(2) Automotive Fleet Fact Book, June 2005
Source: PHH Arval
CONTACT: Ms. Pilar Page, PHH Arval, +1-410-771-2733, Pilar.Page@phh.com
Web site: http://www.networkcar.com/
Web site: http://www.phharval.com/
http://www.phh.com/
