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FILED PURSUANT TO RULE 424(b)(3)
S.E.C. FILE NUMBER 333-23063
SECOND SUPPLEMENT TO PROSPECTUS
March 17, 1998
(TO PROSPECTUS DATED SEPTEMBER 18, 1997)
The Prospectus dated September 18, 1997, as supplemented through the date hereof
(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
________________________________ ____________________ ___________________
Aim Income Fund $ 1,000,000a 32,653a
c/o Aim Management Co.
11 Greenway Plaza
Houston, TX 77046
Bank of America Convertible
Securities Fund $ 20,000a 653a
c/o Bank of America Capital Management
221 North Wall Street, Suite 522
Spokane, WA 99201-0826
Bear Stearns & Co. Inc. $ 1,200,000 39,183
245 Park Ave.
New York, NY 10167
Credit Suisse First Boston Corporation $ 2,500,000 81,632
5 World Trade Center
New York, NY 10048
Employee Benefit Convertible Fund $ 20,000a 653a
c/o Bank of America Capital Management
221 North Wall Street, Suite 522
Spokane, WA 99201-0826
Equity Income Fund $ 600,000a 19,591a
c/o Bank of America Capital Management
221 North Wall Street, Suite 522
Spokane, WA 99201-0826
Healthcare Underwriters Mutual $ 400,000 13,061
Insurance Company
c/o Chancellor LGT Asset Management, Inc.
1166 Avenue of the Americas
New York, NY 10036
J.P. Morgan & Co. Incorporated $14,500,000 473,469
522 Fifth Avenue
New York, NY 10036
Lakeside Capital L.L.C. $ 145,000 4,734
c/o Bank of America Capital Management
221 North Wall Street, Suite 522
Spokane, WA 99201-0826
Lehman Brothers Inc. $ 400,000 13,061
200 Vesey St., 6th Floor
New York, NY 10285
Managed Asset Trust $ 500,000 16,326
One Tower Square
Hartford, CT 06183-2030
Medical Liability Mutual Insurance Company $12,500,000 408,163
c/o Chancellor LGT Asset Management, Inc.
1166 Avenue of the Americas
New York, NY 10036
Merrill Lynch Pierce Fenner & Smith, Inc. $16,947,000a 553,371a
101 Hudson St.
Jersey City, NJ
Morgan Stanley Dean Witter $23,550,000a 409,795a
1585 Broadway, 5th Floor
New York, NY 10036
NationsBanc Montgomery Securities $ 5,100,000 166,530
600 Montgomery Street
San Francisco, CA 94111
Natwest Securities Limited $ 4,500,000a 146,938a
175 Water St.
New York, NY 10038
Pacific Horizon Capital Income Fund $ 1,515,000a 49,469a
c/o Bank of America Capital Management
221 North Wall Street, Suite 522
Spokane, WA 99201-0826
Pacific Innovation Trust Capital Income
Fund $ 85,000a 2,775a
c/o Bank of America Capital Management
221 North Wall Street, Suite 522
Spokane, WA 99201-0826
Smith Barney Inc. $ 6,305,000 205,877
390 Greenwich St.
3rd Floor, Convertible Dept.
New York, NY 10013
The Travelers Indemnity Company $ 3,790,000 123,755
One Tower Square
Hartford, CT, 06183-2030
The Travelers Insurance Company-Life $ 2,440,000 79,673
One Tower Square
Hartford, CT, 06183-2030
The Travelers Insurance Company- $ 270,000 8,816
Separate Account TLAC
One Tower Square
Hartford, CT, 06183-2030
Tribeca Investments, L.L.C. $ 9,000,000 293,877
388 Greenwich St.
New York, NY 10013
UBS Securities LLC $16,466,000a 537,6651
350 Park Ave.
New York, NY 10022
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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, as
supplemented through the date hereof.