Dr Pepper Snapple Group,
Inc. (NYSE: DPS) announced today that it has been notified of an
unsolicited “mini-tender offer” by TRC Capital Corporation to purchase up
to 4,000,000 shares of DPS’ common stock, representing approximately 1.58
percent of DPS’ outstanding shares. TRC Capital’s offer price of $20.00
represents a 4.67 percent discount to the closing price of DPS’ stock on
June 30, 2008 ($20.98), the day prior to the date of the offer.

DPS does not recommend or endorse TRC Capital’s unsolicited mini-tender
offer. Mini-tender offers such as this one avoid many of the investor
protections afforded for larger tender offers, including the filing of
disclosure and other tender offer documents with the Securities and
Exchange Commission (SEC) and other procedures required by United States
securities laws. DPS is not associated with TRC Capital Corporation, its
mini-tender offer or the offer documentation. DPS strongly urges investors
to obtain current market quotations for their shares of DPS common stock,
to consult with their financial advisors and to exercise caution with
respect to TRC Capital’s offer.

DPS is one of a number of different companies that TRC has targeted for
a mini-tender offer. The SEC has issued an investor alert regarding these
mini-tender offers. The SEC has noted that, in making the offers at
below-market prices, bidders are “hoping that they will catch investors off
guard if the investors do not compare the offer price to the current market

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