Knights Franchise Systems Announces New Advisory Board Chairman and Members

PARSIPPANY, N.J. (June 24, 2002) – Knights Franchise Systems Inc. today announced the election and appointment of new members to the Knights Inn Advisory Board.

Arvind R. Patel, owner of the Sarasota, Fla., Knights Inn hotel, was elected chairman by his peers. His responsibilities will include developing agendas with Knights Inn senior leadership, facilitating board meetings, creating committees, appointing committee members and coordinating regional representation of board members.

Bhupen “Bob” Patel, owner of the Summerton, S.C., Knights Inn hotel, and Amit Patel, owner of the Washington Court House, Ohio, Knights Inn hotel, were elected board members.

Knights Franchise Systems appointed Ben Keam, owner of the Florence, Ky., Knights Inn hotel, to the board.

Current advisory board members Dilip Naik, owner of the Ringgold, Ga., Knights Inn hotel, and Naginbhai “Neal” Patel, owner of the Smyrna, Ga., Knights Inn hotel, will continue their board terms.

“We’re very pleased to have such outstanding hoteliers representing our franchise community, and I’d like to welcome incoming chairman Arvind R. Patel and the other new members to the advisory board,” said Anthony Falor, Knights Franchise Systems president & chief executive officer. “Working hand in hand with the Knights Inn Advisory Board is integral to the brand’s success.”

Knights Franchise Systems Inc. is a budget lodging chain of nearly 220 properties in the United States and Canada. All Knights Inn hotels are independently owned and operated under franchise agreements with Knights Franchise Systems Inc. Reservations can be made by calling the Knights Inn toll-free reservation center at (800) 843-5644 – (800) THE KNIGHTS® or through the company’s Web site at Knights Franchise Systems is a subsidiary of Cendant Corporation (NYSE: CD).