Louisville, Ky.—June 12, 2002- Yum! Brands Inc., parent company of such popular quick-serve brands as KFC, Taco Bell, and A&W restaurants, announced it has entered a 50/50 joint venture agreement with Hong Kong-based Favorite Restaurants Group to test a new Asian food concept.

The first of the new fast-casual restaurants, called Yan Can after TV celebrity chef Martin Yan’s TV cooking show, “Yan Can Cook,” is slated to open San Francisco in late June. Average meals will range from $6.50 to $7.50 and will feature several dishes created by Yan, who served as a consultant for the restaurant’s design and menu development.

“America loves Asian food. We’re excited to test this new restaurant concept with Martin Yan, who is to Asian food what Colonel Sanders is to KFC (Kentucky Fried Chicken),” David Novak, Yum! Brands’ chairman and chief executive told reporters.

According to Yum!, Yan Can’s menu will include dishes inspired by several Asian cultures including: Chinese, Thai, Korean, and Vietnamese.

News, Yum! Brands