<SUBMISSION>
<ACCESSION-NUMBER>0001041061-02-000020
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20021121
<ITEMS>5
<ITEMS>7
<FILING-DATE>20021122
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>YUM BRANDS INC
<CIK>0001041061
<ASSIGNED-SIC>5812
<IRS-NUMBER>133951308
<STATE-OF-INCORPORATION>NC
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-13163
<FILM-NUMBER>02836917
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1441 GARDINER LANE
<CITY>LOUISVILLE
<STATE>KY
<ZIP>40213
<PHONE>5028748300
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1900 COLONEL SANDERS LANE
<CITY>LOUISVILLE
<STATE>KY
<ZIP>40213
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>GREAT AMERICAN RESTAURANT CO
<DATE-CHANGED>19970618
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>TRICON GLOBAL RESTAURANTS INC
<DATE-CHANGED>19970627
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8krepuchase.htm
<DESCRIPTION>BOARD APPROVAL FOR REPUCHASE
<TEXT>
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<head>
<title>Press Release dated November 21, 2002 Stock buy back</title></head>
<BODY>

<HR SIZE=5 NOSHADE><BR><BR>

<p ALIGN=CENTER><b><FONT SIZE=4>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</font></b><BR>
<font size=3>Washington, D.C. 20549</font><BR><BR>
<font size=4><b>FORM 8-K</b><BR><BR>
CURRENT REPORT</FONT><BR><BR>
<font size=3><b>Pursuant to Section 13 or 15(d) of the Securities Exchange Act
 of 1934<BR><BR>
Date of Report (Date of earliest event reported)</b><BR>
<b>November 21, 2002</b><BR><BR>
<b>Commission file number 1-13163</b></font><BR></p>

<HR SIZE=1 WIDTH=15% ALIGN=CENTER NOSHADE>

<p align=center><b><FONT SIZE=4>YUM! BRANDS, INC.</font></b><BR>
<font size=3>(Exact name of registrant as specified in its charter)</font><BR>
<BR>

<TABLE>
<TR VALIGN="BOTTOM">
     <TD align=center width=35%>North Carolina</Td>
<td width=40%>&nbsp;</td>
     <Td  align=center width=25%>13-3951308</Td></TR>
<TR VALIGN="TOP">
     <TD align=center ><HR Size=1 noshade width=85%></TD>
<td>&nbsp;</td>
     <TD align=center ><HR Size=1 noshade width=70%></TD></TR>
<TR VALIGN="TOP">
     <TD align=center >(State or other jurisdiction</TD>
<td>&nbsp;</td>
     <TD align=center >(IRS Employer</TD></TR>
<TR VALIGN="TOP">
     <TD align=center >of incorporation or organization)</TD>
<td>&nbsp;</td>
     <TD align=center > Identification No.)</TD></TR>
</TABLE><BR><BR>

<p align=center>1441 Gardiner Lane, Louisville, Kentucky&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40213<BR>
(Address of principal executive offices)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Zip Code)</p>

<BR>

<p align=center>Registrant's telephone number, including area code:&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;(502) 874-8300</p>

<BR>

<p align=center>Former name or former address, if changed since last report:
&nbsp;&nbsp;N/A</P>

<BR><BR>

<HR SIZE=5 NOSHADE>

<BR><BR>


<p>Item 5.&nbsp;<U>OTHER EVENTS</U></p>

<blockquote>On November 21, 2002 YUM! Brands, Inc. issued a press release announcing that its Board of Directors has authorized the
repurchase of up to an additional $300 million of the company's outstanding common stock over a 2 year period.</blockquote>

<p>Item 7.&nbsp;<U>FINANCIAL STATEMENTS AND EXHIBITS</U></p>

<blockquote>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits<BR><BR>

99&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Press release dated November 21, 2002 from YUM! Brands, Inc.</blockquote>






<BR><BR><BR>
<p align=center>2</P>
<HR SIZE=1 NOSHADE>
<BR><BR><BR>

<p ALIGN=CENTER><FONT SIZE=3>SIGNATURE</FONT></p>

<p align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the  requirements of the
Securities  Exchange Act of 1934, the registrant has duly caused this report
to be signed on its behalf by the undersigned hereunto duly authorized.</p>


<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
<TD WIDTH="45%">&nbsp;</td>
<TD><U>YUM! BRANDS, INC.</u><BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;(Registrant)<BR>
</TD></TR>
</TABLE>
<BR>
<BR><BR><BR>

<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
<TD WIDTH="45%">Date:&nbsp;&nbsp;<U>November 22, 2002</U></td>
<TD><U>/s/&nbsp;&nbsp;&nbsp;&nbsp;Matthew M. Preston&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><BR>
Vice President and Associate General Counsel
</TD></TR>
</TABLE>
<BR><BR><BR><BR>

<p align=center>3</P>
<HR noshade>


<BR><BR><BR><BR><BR>


<P><B>YUM! BRANDS BOARD APPROVES ADDITIONAL $300MM SHARE REPURCHASE</B></P>

<P><B>LOUISVILLE, KY (November 21, 2002)</b> &#150;Yum! Brands, Inc. (NYSE:YUM) announced today
that its Board of Directors has  authorized the repurchase of up to an additional $300
million of the company's outstanding common stock over a 2 year  period.  In February of
2001, the Board authorized the repurchase of up to $300 million, which was recently
completed.</P>

<P>David C. Novak, Chairman and CEO said: &quot;The Board's action reflects its belief
that the company's shares are undervalued  and represent an outstanding long-term
investment opportunity given our operating performance, and our unique  multibranding and
international growth prospects.&quot;</P>

<P>&quot;We have the cash flow to reinvest in our businesses, exceed our debt repayment
targets, and invest in our own stock.  All of these actions are consistent with our
objective to continue to enhance value for our shareholders and build a  strong balance
sheet,&quot; Novak added.</P>

<P>Repurchases of common stock may be made from time to time in open market and/or
privately negotiated transactions, and  will be subject to market conditions and other
factors.  Since Yum! Brands began its share repurchase program in 1999,  the company has
purchased 31.2 million shares for $650 million at an average price of $20.83.</P>


<P>This announcement contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933,  as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. These statements include those  identified by such
words as may, will, expect, anticipate, believe, plan and other similar terminology.
These  &#147;forward-looking&#148; statements reflect management&#146;s current
expectations regarding future events and operating and  financial performance and are
based on currently available data. However, actual results are subject to future events
and uncertainties, which could cause actual results to differ from those projected in
this announcement. Factors that  can cause actual results to differ materially include
changes in global and local business, economic and political  conditions in the countries
and territories where Yum! Brands operates; changes in currency exchange and interest
rates;  changes in commodity, labor and other operating costs; changes in competition in
the food industry, consumer  preferences, spending patterns and demographic trends; the
effectiveness of our operating initiatives and advertising  and promotional efforts;
new-product and concept development by Yum! Brands and other food-industry competitors;
the  success of our refranchising strategy; the ongoing business viability of our
franchise and license operators; our  ability to secure alternative distribution to our
restaurants at competitive rates and to ensure adequate supplies of  restaurant products
and equipment in our stores; our actuarially determined casualty loss estimates; changes
in  legislation and governmental regulation; and changes in accounting policies and
practices. Further information about  factors that could affect Yum! Brands financial and
other results are included in the company&#146;s Forms 10-Q and 10-K  filed with the
Securities and Exchange Commission.</P>
<BR><BR><BR><BR>

<P align=center>4</P>
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