<SUBMISSION>
<ACCESSION-NUMBER>0001041061-04-000291
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20040907
<ITEMS>1.01
<ITEMS>2.03
<FILING-DATE>20040910
<DATE-OF-FILING-DATE-CHANGE>20040910
<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>041025877
</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>TRICON GLOBAL RESTAURANTS INC
<DATE-CHANGED>19970627
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>GREAT AMERICAN RESTAURANT CO
<DATE-CHANGED>19970618
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8kcreditagmt.htm
<DESCRIPTION>FORM8K CREDIT AGREEMENT
<TEXT>
<HTML>
<head>
<title>Press Release dated January 29, 2004 Asian Flu and EPS guidance</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>September 7, 2004</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&#146;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>


<P>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing
obligation of the registrant under any of the following provisions:</P>

<P>[&nbsp;] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P>[&nbsp;] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P>[&nbsp;] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-
     2(b))</P>

<P>[&nbsp;] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-
     4(c))</P>

<HR SIZE=5 NOSHADE>

<BR><BR>


<p>Section 1 - Registrant's Business and Operations</p>



<blockquote>Item 1.01         Entry into a Material Definitive Agreement</blockquote>
<BR>


<blockquote><blockquote>On September 7, 2004, Yum!  Brands,  Inc.  (&#147;Yum&#148;)  executed an amended and restated  five-year  revolving credit
         facility (the &#147;Credit  Facility&#148;)  totaling $1.0 billion,  which replaces a three-year  facility in the amount of
         $1.0  billion  that was set to expire on June 25, 2005 (the &#147;Old  Facility&#148;).  J.P.  Morgan  Securities  Inc. and
         Citigroup  Global  Markets Inc.  arranged the Credit  Facility on our behalf.  JPMorgan  Chase Bank will serve as
         Administrative Agent for the Credit Facility, which was broadly syndicated among 21 participants.</blockquote></blockquote>


<blockquote><blockquote>Under terms of the Credit Facility,  Yum may borrow up to the maximum  borrowing limit less  outstanding  letters
         of credit.  The  interest  rate for  borrowings  under the  Credit  Facility  ranges  from 0.35% to 1.625% over the
         &#147;London  Interbank  Offered Rate&#148; (&#147;LIBOR&#148;) or 0.00% to 0.20% over an Alternative Base Rate, which is the greater
         of the Prime Rate or the Federal  Funds Rate  plus 0.50%.  The exact spread over LIBOR or the  Alternative  Base
         Rate, as applicable,  will depend upon Yum&#146;s  performance  under specified  financial  criteria.  Interest on any
         outstanding borrowings under the Credit Facility is payable at least quarterly.</blockquote></blockquote>

<blockquote><blockquote>The Credit  Facility  is  unconditionally  guaranteed  by Yum's  principal  domestic  subsidiaries  and  contains
         financial  covenants  relating to the  maintenance  of leverage  and fixed  charge  coverage  ratios.  The Credit
         Facility also contains affirmative and negative covenants including,  among other things,  limitations on certain
         additional indebtedness,  guarantees of indebtedness,  level of cash dividends, aggregate non-U.S. investment and
         certain other  transactions  as defined in the  agreement.  These  covenants are  substantially  similar to those
         contained  in the Old  Facility  which was filed as  Exhibit  10.6 on Form 8-K on June 28,  2002.  The new Credit
         Facility will be filed as an exhibit to our Form 10-Q for the quarter ended September 4, 2004.</blockquote></blockquote>


<P>Section 2 - Financial Information</P>

<blockquote>Item 2.03         Creation  of  a  Direct  Financial   Obligation  or  an  Obligation  under   Off-Balance  Sheet
Arrangement of a Registrant</blockquote>

<blockquote><blockquote>The information  described  above under &#147;Section 1 - Registrant&#146;s  Business and Operations - Item 1.01 Entry into
         a Material Definitive Agreement&#148; is hereby incorporated herein by reference.</blockquote></blockquote>


<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;September 10, 2004</td>
<TD><U>/s/&nbsp;&nbsp;&nbsp;&nbsp;Gregory N. Moore&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>
Senior Vice President and Controller<BR>
(Principal Accounting Officer)
</TD></TR>
</TABLE>
<BR><BR><BR><BR>

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


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


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