Pepsi, Tricon Renew Pact

Pepsi-Cola International (Purchase, NY) and Tricon Restaurants International (TRI), a division of Tricon Global Restaurants, Inc. (Louisville, KY), have announced a multi-year renewal of their international strategic beverage supply and marketing arrangement.

TRI and its franchisees operate nearly 10,000 KFC, Pizza Hut and Taco Bell restaurants in more than 100 countries. Following recent contract extensions with Tricon in the United States and Canada, Pepsi now holds soft drink pouring rights at KFC, Pizza Hut and Taco Bell restaurants worldwide.

"We are pleased to be extending this productive partnership on a global basis," said Pete Bassi, President of TRI. "Underscoring our commitment to provide KFC, Pizza Hut and Taco Bell customers with the highest in product quality, value and innovation, Pepsi has proven to be the right choice for TRI as we continue to strengthen and grow our operations around the world."

"This long-term agreement with KFC, Pizza Hut and Taco Bell is a testament to the tremendous progress the Pepsi system has made -- and continues to make -- internationally," said Peter Thompson, President and Chief Executive Officer of Pepsi-Cola International. "We look forward to working more closely with Tricon in a true strategic partnership well into the 21st century."

Pepsi has supplied soft drinks to Pizza Hut since 1977, Taco Bell since 1979 and KFC since 1986. The new TRI agreement includes both fountain and bottle-and-can pouring rights for all three restaurant chains. TRI also will continue to participate in Pepsi's global and regional marketing and promotional programs.

Tricon Global Restaurants, Inc. is the world's largest restaurant owner, with almost 30,000 company-owned and franchised restaurants in over 100 countries and territories. Total worldwide system retail sales for the chains was nearly $22 billion in 1999. Pepsi-Cola Company, headquartered in Purchase, NY, USA, is the global beverage division of PepsiCo, Inc. Its major international brands include Pepsi, Diet Pepsi, Pepsi Max, 7UP and Mirinda.

For more info: Larry Jabbonsky of Pepsi, 914-253-2647; or Amy Sherwood of Tricon, 502-874-8200.

Edited by Judy Rice