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Inc. ( Pre
PepsiCo Merger)

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Vignette

Pizza Hut Inc., a subsidiary of Yum!

Brands, Inc. (NYSE: YUM), is the
world's largest pizza restaurant
company with almost 8,000 units in
the United States and more than 4,000
units in 88 other countries. The
company is the recognized leader in
the $33 billion pizza category.

Company History from compnay's

news and marketing material:

1958: The first Pizza Hut® restaurant

opens in Wichita, Kansas, started by
two college-aged brothers who
borrowed $600 from their mother.

1959: Pizza Hut is incorporated in

Kansas and the first franchise unit
opens in Topeka, Kansas.\

1965: "Putt-Putt to Pizza Hut" musical

jingle developed for Pizza Hut's first
television commercial.

1967: A Pizza Hut restaurant was built

in five days by franchisees at the
Oklahoma State Fair.

World's largest pizza (six feet in

diameter) is baked and served at the
grand opening of a Fort Worth, Texas
Pizza Hut® restaurant.

1968: International market entered

with opening of Pizza Hut restaurant
in Canada.

Pizza Hut serves a million people a

week at its 310 locations.

1969: Red roof adopted for

restaurants.

First Pizza Hut restaurant opens in

Mexico. Construction begins in
Munich, Germany and Australia.

1970: Sandwiches added to basic

menu of Thin 'N Crispy® pizza, salad,
beer and soft drinks.

First restaurant opened in Australia.

1971: Pizza Hut becomes the number

one pizza restaurant chain in the world
in both sales and number of
restaurants.

1972: Pizza Hut, Inc. listed on New

York Stock Exchange under the
symbol PIZ.

Pizza Hut restaurant number 1,000

opens in Wichita, KS. A unit opens in
Costa Rica.

1973: Pizza Hut restaurants open in

Japan and England.

1975: Thick'n Chewy® pizza

introduced.
Chatsworth, CA Pizza Hut restaurant
is used in the filming of "The Bad
News Bears."

1976 The 100th international Pizza

Hut restaurant is opened in Australia,
while entire system reaches 2,000.

1977: Pizza Hut, Inc. stockholders

overwhelmingly approve merger with
PepsiCo, Inc. for an undisclosed sum.

Super Supreme is introduced

nationwide.

Pizza Hut opens its 3,000th unit in

Arlington, Texas.

1979: The Sicilian Pan Pizza is

introduced.

Units open in Kuwait and Abu Dhabi.

Pizza Hut raises $342,000 for Easter

Seals from national promotion.

1980: Pan Pizza is introduced

throughout the system.

Restaurant number 4,000 opens.

1982: The Pizza Hut ET glass

promotion is picked as the top
marketing promotion of 1982 by the
editorial staff of Chain Marketing and
Management.

Pizza Hut serves one and a half

million pounds of pasta annually.

1983: Personal Pan Pizza®, with a

five-minute guarantee, is introduced
throughout the system.

Pizza Hut celebrates 25th anniversary.

Pizza Hut employs 10,000 teenagers
from 16 to 19 years old.

1984: BOOK IT!® national reading

incentive program is launched with
200,000 elementary students enrolled.

There are more pizza locations than

hamburger restaurants in the United
States. Pizzerias account for 9.9% of
all restaurants in the U.S.

1985: Priazzo® and Calizza® are

introduced.

1986: The system celebrates the

opening of its 5,000th restaurant,
located in Dallas, Texas.

Delivery service, as a new concept, is

initiated.

Fastest construction of a Pizza Hut

restaurant takes place in Wichita, KS
--- 39 days from start to finish. The
national average is 85 days.

1988: Hand-Tossed Traditional Pizza

is introduced throughout the system.

Pizza Hut celebrates its 30th

anniversary with a total of more than
6,000 restaurants and delivery units
worldwide.

President Ronald Reagan awards

Private Initiative Citation to Pizza Hut
President Art Gunther for the creation
of BOOK IT!® Program.

1989: The Pizza Hut Jobs Plus®

program expands nationwide to
employ more than 10,000 individuals
with physical and developmental
disabilities. The Jobs Plus program is
recognized as the largest corporate
initiative of its kind in the food service
industry.

Pizza Hut opens its 1,000th

international unit in Welland, Ontario,
Canada. Pizza Hut now serves 54
countries.

Pizza Hut sells 9.1 million "Land

Before Time" puppets. When released
to the public, the movie enjoyed the
largest opening ever for an animated
feature.

For the first time in history, Pizza Hut

pizza is delivered to the White House.
First Lady Barbara Bush throws a
party for 200 Washington, D.C.
children during a "Reading is
Fundamental" reception.

1990: Pizza Hut system sales reach $4

billion.

Pizza Hut delivers more than

1,340,000 pizzas on Super Bowl
Sunday, about 7,000 pies a minute.

Kamran Atri, assistant manager in

Leesberg, VA serves his way into the
Guinness Book of World Records by
waiting tables at the Leesberg, VA
Pizza Hut restaurant for 136 hours,
donating $1,200 in tips to the
Loudoun County Shelter for Abused
Women & Children.

More than 4,000 Jobs Plus employees

work for Pizza Hut.

Personal Pan Pizza® becomes

available at 1,000 Stop 'N Go
convenience stores.

1992: Lunch buffet introduced in

1,800 units.
Pizza Hut sets up two mobile hot
trailers in Florida City and Goulds, FL
after Hurricane Andrew wreaks havoc.
Pizza Hut provides 120,000 free meals
to relief volunteers and those who lost
their homes.

Pizza boxes redesigned to save

275,000 trees a year.

1993: Pizza Hut introduces

BIGFOOT™ Pizza -- two square feet
of pizza cut into 21 slices.

The Harvest Program is launched

nationwide to donate surplus food to
food rescue agencies.

Pizza Hut makes its fastest and

farthest delivery: 600 large pepperoni
pizzas on a 24-hour flight from Dover
Air Force Base to U.S. service
personnel in Mogadishu, Somalia.

Pizza Hut leads the entire restaurant

industry in growth and sets new
company records for sales and profits.

Pizza Hut introduces Chunky Style

Pizza in September.

Pizza Hut signs contract with 30 hotel

companies throughout the country to
provide delivery service to their
registered guests.

1994: Pizza Hut becomes the single

largest retailer of basketballs in the
United States, selling 3.7 million balls
during its NCAA® Final Four®
promotion.

Pizza Hut opens 9,700 square foot

Super Pizza Hut® restaurant and
entertainment center in Mexico City.
Pizza Hut in Beirut reopens after
being closed during the Gulf War.

Soccer legend Pele kicks a ball

through the door of Pizza Hut®
restaurant number 10,000 in Sao
Paulo, Brazil on April 13.

1995: Pizza Hut launches the "You'll

Love The Stuff We're Made Of"®
campaign.

Buffalo Wings soar onto Pizza Hut

menu. These spicy chicken wings are
served with dipping sauce.

Two Customer Satisfaction programs

initiated: a 1-800 Customer
Satisfaction Hotline and a Customer
Call-Back Program, which takes the
pulse of 50,000 customers per week.

Pizza Hut launches Pizzeria Stuffed

Crust Pizza, which immediately sets
company sales records.

The Deliver Me Home™ program is

created by Pizza Hut and the National
Center for Missing and Exploited
Children and is tested at the
Dallas/Fort Worth International
Airport to inform the community of an
important identification tool in
helping to locate, identify and return
missing children to their families.

Pizza Hut wins the 1995 "Choice of

Chains" award for Best Pizza Chain
sponsored annually by Restaurants &
Institutions magazine, making Pizza
Hut the "Best Pizza Chain" ten of the
last eleven years.

1996: Pizza Hut airs its first ever ad

during the Super Bowl.
Pizza Hut delivers 30% of the 12
million pizzas delivered on Super
Bowl Sunday. This is the biggest
pizza delivery day of the year.

On May 30, Pizza Hut introduces two

varieties of chicken-topped pizza...
Italian Chicken and Chicken Supreme.

1997: Pizza Hut launches a meatier

pepperoni.

PepsiCo announces restaurant spin-

off.

Pizza Hut launches "Totally New

Pizzas" a quality initiative putting
sliced, fresh vegetables and meaty
meats on pizzas.

Pizza Hut launches "The Edge™

pizza"

1998: Pizza Hut celebrates 40 years of

making and serving great pizza.

Pizza Hut launches "The Sicilian

Pizza" a flavorful crust with garlic,
basil and oregano baked right into the
crust

Pizza Hut launches "The Best Pizzas

Under One Roof™" campaign.

Pizza Hut features Sony's Crash

Bandicoot in the Stuffed Crust
Pizza/Sony Promotion.

1999: Pizza Hut launches The Big

New Yorker Pizza. A 16 inch pizza
with a sweeter, savory sauce, 100%
real cheese cut into 8 big foldable
slices. Pizza Hut brings New York-
style pizza across America.
Pizza Hut features Fran Drescher,
Spike Lee and Donald Trump in The
Big New Yorker Pizza advertising
campaign. The celebrity campaign
launched in the pre-game advertising
for Super Bowl XXXIII.

Pizza Hut launches Pizza PlayStuff, a

kid’s program that enables customers
to purchase the featured kids’ toy for
$.99 with any pizza purchase.

Pizza Hut, KFC and Taco Bell are the

exclusive global restaurant partners
for Star Wars™ Episode I - The
Phantom Menace™. This is the first
time that all three brands unite under
one theme.

2000: In July 2000, Pizza Hut became

the first company in history to place
its logo on the world’s largest proton
rocket. The innovative space
sponsorship campaign was part of the
company’s dramatic turnaround and
re-imaging campaign, which included
a more than $500 million investment
over five years to make contemporary
and upgrade Pizza Hut units around
the globe.

Pizza Hut introduces The Insider™

pizza, featuring an "ooey, gooey" six-
cheese blend between two delicious
thin crusts and covered with tangy
sauce, more cheese and a choice of
toppings.

2001: Pizza Hut and ad agency BBDO

create a national television
commercial in 24 hours about the
Bush-Gore election in which no
winner was determined after election
night. The commercial was tied to The
Insider pizza.
Pizza Hut introduced Twisted Crust™
pizza - Twisted Crust pizza boasted a
revolutionary breadstick crust that
surrounded a hot, delicious Pizza Hut
pizza.

Pizza Hut became the first company in

history to deliver pizza to the pioneers
living in outer space on the
International Space Station (ISS). The
creation and delivery of the world’s
first space-consumable pizza was the
culmination of nearly a year of
collaboration between Pizza Hut and
Russian food scientists