Industry News | February 11, 2002

Tricon Global Restaurants, Inc., Updates Earnings

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Tricon Global Restaurants, Inc., announced increases in its full-year 2002 ongoing operating EPS guidance range to $3.56 - $3.63 from $3.53 - $3.63 and provided guidance for first quarter 2002 with ongoing operating EPS growth of at least 25 percent. Tricon reported results for the fourth quarter ended December 29, 2001. Among the highlights:

• International ongoing operating profit increased 17% in U.S. dollar terms or 20 percent prior to foreign exchange conversion.

• International restaurant openings, excluding licensed locations, for the quarter were 437, resulting in a record 1,041 for the full year.

• U.S. ongoing operating profit increased 16 percent. U.S. blended same-store sales increased 3 percent.

• Tricon generated over $340 million in cash, prior to $282 million of capital spending.

News and information presented in this release has not been corroborated by QSR, Food News Media, or Journalistic, Inc.