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FILED PURSUANT TO RULE 424(b)(3)
S.E.C. FILE NUMBER 333-23063
FIRST SUPPLEMENT TO PROSPECTUS
December 16, 1997
(TO PROSPECTUS DATED SEPTEMBER 18, 1997)
The Prospectus dated September 18, 1997 (the "Prospectus")
relating to the offer and sale, from time to time, by the Selling
Securityholders listed therein of up to $550,000,000 aggregate
principal amount of 3% Convertible Subordinated Notes Due
February 15, 2002 (the "Notes") of CUC International Inc. (the
"Company") and up to 17,959,205 shares of common stock, $.01 par
value of the Company, issuable upon conversion of the Notes, is
hereby supplemented as follows:
The following entities are hereby named as Selling Securityholders
as contemplated on page 29 of the Prospectus:
PRINCIPAL AMOUNT NUMBER OF
OF NOTES COVERED SHARES COVERED
SELLING SECURITYHOLDER BY THIS PROSPECTUS BY THIS PROSPECTUS
____________________________ ____________________ ___________________
Baird, Patrick & Co. Inc. $ 5,000,000 163,265
20 Exchange Place
New York, NY 10005
CFW-C, L.P. $ 3,000,000 97,959
201 Main St., Suite 3200
Fort Worth, TX 76102
Chase Securities Inc. $ 5,000,000 163,265
270 Park Ave.
New York, NY 10017
Chrysler Corporation Master Retirement $ 1,750,000a 57,142a
Trust
c/o Oaktree Capital Management, LLC
550 South Hope Street, 22nd Floor
Los Angeles, CA 90071
Cowen & Company $ 2,000,000 65,306
Financial Square
25th Floor
New York, NY 10005-3597
PRINCIPAL AMOUNT NUMBER OF
OF NOTES COVERED SHARES COVERED
SELLING SECURITYHOLDER BY THIS PROSPECTUS BY THIS PROSPECTUS
________________________________ __________________ __________________
EVEREN Securities, Inc. $ 1,000,000 32,653
77 W. Wacker Dr.
Chicago, IL 60601
Financial Security Assurance Inc. $ 600,000 19,591
c/o Froley, Revy Investment Co.
10900 Wilshire Blvd, #1050
Los Angeles, CA 90024
Hughes AircraftCompany Master $ 105,000a 3,428a
Retirement Trust
c/o Oaktree Capital Management, LLC
550 South Hope Street, 22nd Floor
Los Angeles, CA 90071
JP Morgan Securities Incorporated $ 3,588,000 117,159
60 Wall Street, 6th Floor
New York, NY 10260
Lipper Convertibles, L.P. $16,500,000 538,775
101 Park Avenue, 6th Floor
New York, NY 10178
Lipper Offshore Convertibles, L.P. $ 2,500,000 81,632
c/o Lipper & Company, L.P.
101 Park Avenue, 6th Floor
New York, NY 10178
Merrill Lynch Pierce Fenner & Smith, Inc. $ 2,897,000 94,595
101 Hudson St.
Jersey City, NJ
Morgan Stanley, Dean Witter,
Discover & Co. $ 6,795,000 161,469
1585 Broadway
New York, NY 10036
Nalco Chemical Retirement Trust $ 80,000a 2,612a
c/o Froley, Revy Investment Co.
10900 Wilshire Blvd. #1050
Los Angeles, CA 90025
Natwest Markets $23,000,000 751,020
175 Water Street
New York, NY 10005
PRINCIPAL AMOUNT NUMBER OF
OF NOTES COVERED SHARES COVERED
SELLING SECURITYHOLDER BY THIS PROSPECTUS BY THIS PROSPECTUS
__________________________________ ___________________ __________________
OCM Convertible Trust $ 295,000a 9,632a
c/o Oaktree Capital Management, LLC
550 South Hope Street, 22nd Floor
Los Angeles, CA 90071
Oregon Equity Fund $1,000,000a 32,653a
c/o Froley, Revy Investment Co.
10900 Wilshire Blvd. #1050
Los Angeles, CA 90025
Paloma Securities L.L.C. $2,000,000a 65,306a
Two American Lane
Greenwich, CT 06836
Partner Reinsurance Company Ltd. $ 50,000a 1,632a
c/o Oaktree Capital Management, LLC
550 South Hope Street, 22nd Floor
Los Angeles, CA 90071
SBC Warburg Dillon Read Inc. $19,837,000 647,728
c/o Swiss Bank Center One
677 Washington Blvd., 9th Floor, North
Stamford, CT 06912
Silverton International Fund Limited $ 2,200,000 71,836
129 Front Street
Hamilton HM12
Bermuda
State Employees Retirement Fund of the $ 80,000a 2,612a
State of Delaware
c/o Oaktree Capital Management, LLC
550 South Hope Street, 22nd Floor
Los Angeles, CA 90071
State of Connecticut Combined Investment $ 535,000a 17,469a
Funds
c/o Oaktree Capital Management, LLC
550 South Hope Street, 22nd Floor
Los Angeles, CA 90071
Swiss Bank Corporation - London Branch $13,700,000 447,346
c/o Swiss Bank Center One
677 Washington Blvd., 9th Floor, North
Stamford, CT 06912
PRINCIPAL AMOUNT NUMBER OF
OF NOTES COVERED SHARES COVERED
SELLING SECURITYHOLDER BY THIS PROSPECTUS BY THIS PROSPECTUS
_________________________________ __________________ __________________
Toronto Dominion (New York), Inc. $ 7,885,000 257,469
c/o TD Securities
31 West 52nd Street, 21st Floor
New York, NY 10019-6101
Valley Insurance Company $ 100,000 3,265
c/o Froley, Revy Investment Co.
10900 Wilshire Blvd, #1050
Los Angeles, CA 90024
Vanguard Convertible Securities
Fund, Inc. $ 185,000 6,040
c/o Oaktree Capital Management, LLC
550 South Hope Street, 22nd Floor
Los Angeles, CA 90071
_______________________________
a Principal Amount of Notes and Number of Shares represented in
this Supplement by this Selling Securityholder is in addition to
those Notes and Shares set forth with respect to this Selling
Securityholder in the Prospectus.