AFC Enterprises, Inc. announced today the
commencement of its initial public offering of 9,375,000 shares of its common stock at
a purchase price of $17.00 per share. The Company is selling 3,125,000 shares and 6,250,000 shares are being sold
by certain selling shareholders. AFC Enterprises’ common stock is expected to begin trading March 2, 2001 on the
Nasdaq National Market under the symbol AFCE.

Goldman, Sachs & Co., Credit Suisse First Boston and Deutsche Banc Alex. Brown have acted as managing
underwriters for the offering. The underwriters have the option to purchase up to an additional 1,406,250 shares from
certain selling shareholders and the Company to cover over-allotments.

AFC Enterprises operates, develops and franchises quick service restaurants, bakeries and cafes primarily under the
trade names Popeyes® Chicken & Biscuits, Church’s Chicken(TM), Cinnabon®, Seattle’s Best Coffee® and
Torrefazione Italia®. As of December 31, 2000, AFC Enterprises operated and franchised 3,618 restaurants, bakeries
and cafes in 46 states, the District of Columbia and 27 foreign countries. AFC Enterprises also sells premium specialty
coffees through wholesale and retail distribution channels under its Seattle Coffee brands. AFC Enterprises
system-wide sales in 2000 totaled approximately $2.4 billion.

News, Church's Chicken