<SUBMISSION>
<ACCESSION-NUMBER>0001041061-05-000333
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20051107
<ITEMS>8.01
<ITEMS>9.01
<FILING-DATE>20051108
<DATE-OF-FILING-DATE-CHANGE>20051108
<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>051186277
</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>form8kp11sales.htm
<TEXT>
<HTML>
<head>
<title></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 7, 2005</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>


<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 style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
<font size=3>Section 8 &#150;  Other Events</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=3>Item 8.01 Other Events</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:justify;'><font size=3>On November 7, 2005, YUM! Brands, Inc. issued a press release reporting Period 11 sales for
its portfolio of International, China and U.S. businesses. The Company also confirmed its earnings per share guidance for 2005.
</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>Section 9 &#150;  Financial Statements and Exhibits</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;margin-left:0.5in;text-align:left;'><font size=3>Item 9.01 Financial Statements and Exhibits</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;margin-left:0.5in;text-align:left;'><font size=3>         (c) Exhibits</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;margin-left:0.5in;text-align:left;'><font size=3>         99.1 Press Release dated November 7, 2005 from YUM! Brands, Inc.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font SIZE=3>SIGNATURE</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.55in;text-align:justify;'><font size=3>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.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse'>
    <tr >
        <td width="198" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="119" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="274" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><U><font SIZE=3>YUM! BRANDS, INC.</font></U><u></u></p> </td> </tr>
    <tr >
        <td width="198" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="119" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="274" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:28.5pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=3>(Registrant)</font></p> </td> </tr>
    <tr >
        <td width="198" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="119" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="274" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="198" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="119" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="274" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="198" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="119" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="274" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="198" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=3>Date: November 8, 2005</font></p> </td>
        <td width="119" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="274" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=3>/s/      Ted F. Knopf</font></p> </td> </tr>
    <tr >
        <td width="198" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="119" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="274" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=3>Senior Vice President of Finance</font></p> </td> </tr>
    <tr >
        <td width="198" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="119" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="274" valign=top style='padding:0in 5.4pt 0in 5.4pt'>

            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=3>and Corporate Controller</font></p> </td> </tr>
<tr >
<td width="198" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="119" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="274" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=3>(Principal Accounting Officer)</font></p> </td> </tr></table>

<DIV STYLE="page-break-after:always"></DIV>




<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:center;'><B><font SIZE=2>YUM! BRANDS INC. REPORTS ESTIMATED PERIOD 11 SALES </font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:center;'><B><font SIZE=2>FOR INTERNATIONAL, CHINA AND U.S. BUSINESSES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:center;'><B><font SIZE=2>YUM! BRANDS ANNOUNCES </font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:center;'><b><font size=2>2005 ANNUAL CONFERENCE FOR INVESTORS &amp; ANALYSTS</font></b></p>

<p style=' margin-bottom:0pt; margin-top:9pt; margin-left:0.25in;text-align:left;'><b><font size=2>Louisville, Ky. &#151; </font></b><font size=2>November 7, 2005 &#151; Yum! Brands Inc. (NYSE: YUM) today reported Period 11 system sales for its International Division increased 4% prior to foreign currency conversion or 7% after conversion to U.S. dollars. Period 11 system sales for its China Division increased 8% prior to foreign currency conversion or 10% after conversion to U.S. dollars. U.S. blended same-store sales at company restaurants increased 6% for Period 11, ending October 29.</font></p>

<p style=' margin-bottom:0pt; margin-top:9pt; margin-left:0.25in;text-align:left;'><font size=2>David C. Novak, Chairman and CEO, said, &#147;</font><i><font size=2>Driven by the momentum from the continued expansion of our China and International Division, and strong U.S. same-store-sales growth, we expect to build on this year&#146;s forecasted 12% EPS growth with another year of at least 10% EPS growth in 2006. This would be our fifth straight year of meeting or exceeding our annual target of at least 10% EPS growth.&#148;</font></i></p>

<p style=' margin-bottom:0pt; margin-top:9pt; margin-left:0.25in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:6pt; margin-top:9pt; margin-left:0.25in;text-align:left;'><u><b><font size=2>Yum! Restaurant International Division System-Sales Growth (Estimated)</font></b></u></p>


<table border="0" cellspacing=0 cellpadding=0 width="551" style='margin-left:19.25pt;border-collapse:collapse'>
    <tr style='height:9.85pt'>
        <td width="120" valign=top style='border-top:solid black 1.0pt; border-left:solid black 1.0pt;border-bottom:none;border-right:none;  padding:0in 5.75pt 0in 5.75pt;height:9.85pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="126" valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.75pt 0in 5.75pt;height:9.85pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:0pt'><b><font size=2>2005</font></b><br> <b><font size=2>Reported (U.S. $)</font></b></p> </td>
        <td width="17" valign=top style='border-top:solid black 1.0pt; padding:0in 5.75pt 0in 5.75pt; height:9.85pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="126" valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.75pt 0in 5.75pt;height:9.85pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:0pt'><b><font size=2>2005</font></b><br> <b><font size=2>Local Currency</font></b></p> </td>
        <td width="18" valign=top style='border-top:solid black 1.0pt; padding:0in 5.75pt 0in 5.75pt; height:9.85pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="18" valign=top style='border-top:solid black 1.0pt; padding:0in 5.75pt 0in 5.75pt; height:9.85pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="126" valign=top style='border:solid black 1.0pt; border-left:none;padding: 0in 5.75pt 0in 5.75pt;height:9.85pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:0pt'><b><font size=2>2004</font></b><br> <b><font size=2>Local Currency</font></b></p> </td> </tr>
    <tr style='height:18.2pt'>
        <td width="120" valign=top style='border-left:solid black 1.0pt; padding:0in 5.75pt 0in 5.75pt; height:18.2pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><b><font size=2>Period 11</font></b></p> </td>
        <td width="126" valign=top style='padding:0in 5.75pt 0in 5.75pt; height:18.2pt'>
            <p style='margin-left:0pt;text-indent:33.75pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=2>+7%</font></p> </td>
        <td width="17" valign=top style='padding:0in 5.75pt 0in 5.75pt; height:18.2pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="126" valign=top style='padding:0in 5.75pt 0in 5.75pt; height:18.2pt'>
            <p style='margin-left:0pt;text-indent:34.5pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=2>+4%</font></p> </td>
        <td width="18" valign=top style='padding:0in 5.75pt 0in 5.75pt; height:18.2pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="18" valign=top style='padding:0in 5.75pt 0in 5.75pt; height:18.2pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="126" valign=top style='border-right:solid black 1.0pt; padding:0in 5.75pt 0in 5.75pt; height:18.2pt'>
            <p style='margin-left:0pt;text-indent:32.25pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=2>+8%</font></p> </td> </tr>
    <tr style='height:18.25pt'>
        <td width="120" valign=top style='border-left:solid black 1.0pt; padding:0in 5.75pt 0in 5.75pt; height:18.25pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><b><font size=2>Quarter to date</font></b></p> </td>
        <td width="126" valign=top style='padding:0in 5.75pt 0in 5.75pt; height:18.25pt'>
            <p style='margin-left:0pt;text-indent:33.75pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=2>+7%</font></p> </td>
        <td width="17" valign=top style='padding:0in 5.75pt 0in 5.75pt; height:18.25pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="126" valign=top style='padding:0in 5.75pt 0in 5.75pt; height:18.25pt'>
            <p style='margin-left:0pt;text-indent:34.5pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=2>+4%</font></p> </td>
        <td width="18" valign=top style='padding:0in 5.75pt 0in 5.75pt; height:18.25pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="18" valign=top style='padding:0in 5.75pt 0in 5.75pt; height:18.25pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="126" valign=top style='border-right:solid black 1.0pt; padding:0in 5.75pt 0in 5.75pt; height:18.25pt'>
            <p style='margin-left:0pt;text-indent:32.25pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=2>+7%</font></p> </td> </tr>
    <tr style='height:18.25pt'>
        <td width="120" valign=top style='border-top:none;border-left: solid black 1.0pt;border-bottom:solid black 1.0pt;border-right: none; padding:0in 5.75pt 0in 5.75pt;height:18.25pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><b><font size=2>Year to date </font></b></p> </td>
        <td width="126" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.75pt 0in 5.75pt; height:18.25pt'>
            <p style='margin-left:0pt;text-indent:33.75pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=2>+9%</font></p> </td>
        <td width="17" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.75pt 0in 5.75pt; height:18.25pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="126" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.75pt 0in 5.75pt; height:18.25pt'>
            <p style='margin-left:0pt;text-indent:34.5pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=2>+6%</font></p> </td>
        <td width="18" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.75pt 0in 5.75pt; height:18.25pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="18" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.75pt 0in 5.75pt; height:18.25pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="126" valign=top style='border-top:none;border-left: none;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;  padding:0in 5.75pt 0in 5.75pt;height:18.25pt'>
            <p style='margin-left:0pt;text-indent:32.25pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=2>+7%</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:3pt; margin-left:0.25in;text-align:left;'><b><font size=2>Note:</font></b><font size=2> </font><i><font size=2>The company&#146;s annual target growth rate for International Division system sales is at least +5% prior to foreign currency conversion.</font></i></p>

<p style=' margin-bottom:6pt; margin-top:9pt; margin-left:0.25in;text-align:left;'><u><b><font size=2>China Division System-Sales Growth (Estimated)</font></b></u></p>


<table border="0" cellspacing=0 cellpadding=0 width="551" style='margin-left:18.9pt;border-collapse:collapse; '>
    <tr style='height:8.95pt'>
        <td width="120" valign=top style='border-top:solid black 1.0pt; border-left:solid black 1.0pt;border-bottom:none;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:8.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="126" valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:8.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:0pt'><b><font size=2>2005</font></b><br> <b><font size=2>Reported (U.S. $)</font></b></p> </td>
        <td width="17" valign=top style='border-top:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:8.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="126" valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:8.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:0pt'><b><font size=2>2005</font></b><br> <b><font size=2>Local Currency</font></b></p> </td>
        <td width="18" valign=top style='border-top:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:8.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18" valign=top style='border-top:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:8.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="126" valign=top style='border:solid black 1.0pt; border-left:none;padding: 0in 5.4pt 0in 5.4pt;height:8.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:0pt'><b><font size=2>2004</font></b><br> <b><font size=2>Local Currency</font></b></p> </td> </tr>
    <tr style='height:16.65pt'>
        <td width="120" valign=top style='border-left:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:16.65pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><b><font size=2>Period 11</font></b></p> </td>
        <td width="126" valign=top style='padding:0in 5.4pt 0in 5.4pt;height:16.65pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:0pt'><font size=2>+10%</font></p> </td>
        <td width="17" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.65pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="126" valign=top style='padding:0in 5.4pt 0in 5.4pt;height:16.65pt'>
            <p style='margin-left:0pt;text-indent:34.5pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=2>+8%</font></p> </td>
        <td width="18" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.65pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.65pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="126" valign=top style='border-right:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt; height:16.65pt'>
            <p style='margin-left:0pt;text-indent:29.25pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=2>+24%</font></p> </td> </tr>
    <tr style='height:16.7pt'>
        <td width="120" valign=top style='border-left:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:16.7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><b><font size=2>Quarter to date</font></b></p> </td>
        <td width="126" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:0pt'><font size=2>+13%</font></p> </td>
        <td width="17" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="126" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.7pt'>
            <p style='margin-left:0pt;text-indent:29.25pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=2>+10%</font></p> </td>
        <td width="18" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="126" valign=top style='border-right:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:16.7pt'>
            <p style='margin-left:0pt;text-indent:29.25pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=2>+23%</font></p> </td> </tr>
    <tr style='height:16.7pt'>
        <td width="120" valign=top style='border-top:none;border-left: solid black 1.0pt;border-bottom:solid black 1.0pt;border-right: none; padding:0in 5.4pt 0in 5.4pt;height:16.7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><b><font size=2>Year to date </font></b></p> </td>
        <td width="126" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:16.7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:0pt'><font size=2>+12%</font></p> </td>
        <td width="17" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:16.7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="126" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:16.7pt'>
            <p style='margin-left:0pt;text-indent:29.25pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=2>+11%</font></p> </td>
        <td width="18" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:16.7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:16.7pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="126" valign=top style='border-top:none;border-left: none;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt;height:16.7pt'>
            <p style='margin-left:0pt;text-indent:29.25pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=2>+24%</font></p> </td> </tr></table>

<p style=' margin-bottom:6pt; margin-top:3pt; margin-left:0.25in;text-align:left;'><b><font size=2>Note:</font></b><i><b><font size=2> </font></b><font size=2>For the purpose of this report, like calendar months have been compared. The company&#146;s annual target growth rate for China Division system sales is at least 22% prior to foreign currency conversion.</font></i><b><font size=2> </font></b></p>

<p style=' margin-bottom:0pt; margin-top:9pt; margin-left:0.25in;text-align:left;'><font size=2>The company continues to expect to open more than 375 new restaurants in the China Division, exceeding our original 2005 target. For 2006, we expect to raise our new-restaurant-openings target to 400 and will continue to target system sales growth of at least +22%.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:6pt; margin-top:12pt;text-align:left;'><u><b><font size=2>U.S. Company Same-Store-Sales Growth (Estimated)</font></b></u></p>


<table border="0" cellspacing=0 cellpadding=0 width="336" style='margin-left:5.4pt;border-collapse:collapse'>
    <tr style='height:16.0pt'>
        <td width="127" valign=top style='border-top:solid black 1.0pt; border-left:solid black 1.0pt;border-bottom:none;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="17" valign=top style='border-top:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="17" valign=top style='border-top:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none; padding:0in 5.4pt 0in 5.4pt;height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:0pt'><b><font size=2>Period 11</font></b><br> <b><font size=2>2005</font></b></p> </td>
        <td width="20" valign=top style='border-top:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="77" valign=bottom style='border:solid black 1.0pt;border-color:gray; border-left:none;padding: 0in 5.4pt 0in 5.4pt;height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:3.0pt;margin-bottom:0pt'><b><font size=2>Period 11</font></b><br> <b><font size=2>2004</font></b></p> </td> </tr>
    <tr style='height:16.0pt'>
        <td width="127" style='border-left:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><B><font SIZE=2>U.S. BLENDED</font></B><font size=2> </font></p> </td>
        <td width="17" style='padding:0in 5.4pt 0in 5.4pt;height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="17" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="77" style='padding:0in 5.4pt 0in 5.4pt;height:16.0pt'>
            <p style='margin-left:0pt;text-indent:12.75pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=2>+6%</font></p> </td>
        <td width="20" style='padding:0in 5.4pt 0in 5.4pt;height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="77" style='border-right:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:16.0pt'>
            <p style='margin-left:0pt;text-indent:12.75pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=2>+2%</font></p> </td> </tr>
    <tr style='height:16.0pt'>
        <td width="127" style='border-left:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=2>Taco Bell </font></p> </td>
        <td width="17" style='padding:0in 5.4pt 0in 5.4pt;height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="17" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="77" style='padding:0in 5.4pt 0in 5.4pt;height:16.0pt'>
            <p style='margin-left:0pt;text-indent:12.75pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=2>+8%</font></p> </td>
        <td width="20" style='padding:0in 5.4pt 0in 5.4pt;height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="77" style='border-right:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:16.0pt'>
            <p style='margin-left:0pt;text-indent:12.75pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><font size=2>+3%</font></p> </td> </tr>
    <tr style='height:16.0pt'>
        <td width="127" style='border-left:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Pizza Hut </font></p> </td>
        <td width="17" style='padding:0in 5.4pt 0in 5.4pt;height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="17" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="77" style='padding:0in 5.4pt 0in 5.4pt;height:16.0pt'>
            <p style='margin-left:0pt;text-indent:12.75pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>+4%</font></p> </td>
        <td width="20" style='padding:0in 5.4pt 0in 5.4pt;height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="77" style='border-right:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:16.0pt'>
            <p style='margin-left:0pt;text-indent:12.75pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>+6%</font></p> </td> </tr>
    <tr style='height:16.0pt'>
        <td width="127" style='border-top:none;border-left:solid black 1.0pt; border-bottom:solid black 1.0pt;border-right:none; padding:0in 5.4pt 0in 5.4pt;height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>KFC </font></p> </td>
        <td width="17" style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="17" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="77" style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:16.0pt'>
            <p style='margin-left:0pt;text-indent:12.75pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>+6%</font></p> </td>
        <td width="20" style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="77" style='border-top:none;border-left:none;border-bottom: solid black 1.0pt;border-right:solid black 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height:16.0pt'>
            <p style='margin-left:0pt;text-indent:15.0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(3)%</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:3pt;text-align:left;'><b><font size=2>Note:</font></b><i><font size=2> The company&#146;s annual target growth rate for U.S. same-store sales is +1% to +2%.</font></i></p>

<p style=' margin-bottom:0pt; margin-top:9pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="253" style='margin-left:5.4pt;border-collapse:collapse;  '>
    <tr style='height:16.0pt'>
        <td  colspan="2" valign=top style='border:solid black 1.0pt;border-color:gray;  padding:0in 5.4pt 0in 5.4pt;height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><b><font size=2>2005 Period 11 End Dates</font></b></p> </td> </tr>
    <tr style='height:17.3pt'>
        <td width="162" style='border-left:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt; height:17.3pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>International Division</font></p> </td>
        <td width="91" style='border-right:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:17.3pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>10/3/2005</font></p> </td> </tr>
    <tr style='height:17.35pt'>
        <td width="162" style='border-left:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:17.35pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>China Division</font></p> </td>
        <td width="91" style='border-right:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:17.35pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>10/31/2005</font></p> </td> </tr>
    <tr style='height:17.35pt'>
        <td width="162" style='border-top:none;border-left:solid black 1.0pt; border-bottom:solid black 1.0pt;border-right:none;padding: 0in 5.4pt 0in 5.4pt;height:17.35pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>U.S. Business</font></p> </td>
        <td width="91" style='border-top:none;border-left:none;border-bottom: solid black 1.0pt;border-right:solid black 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height:17.35pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>10/29/2005</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:9pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="253" style='margin-left:5.4pt;border-collapse:collapse;  '>
    <tr style='height:16.0pt'>
        <td  colspan="2" valign=top style='border:solid black 1.0pt;border-color:gray;  padding:0in 5.4pt 0in 5.4pt;height:16.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:3.0pt;margin-bottom:0pt'><b><font size=2>2005 Period 12 End Dates</font></b></p> </td> </tr>
    <tr style='height:17.3pt'>
        <td width="162" style='border-left:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt; height:17.3pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>International Division</font></p> </td>
        <td width="91" style='border-right:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:17.3pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>10/31/2005</font></p> </td> </tr>
    <tr style='height:17.35pt'>
        <td width="162" style='border-left:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:17.35pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>China Division</font></p> </td>
        <td width="91" style='border-right:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:17.35pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>11/30/2005</font></p> </td> </tr>
    <tr style='height:17.35pt'>
        <td width="162" style='border-top:none;border-left:solid black 1.0pt; border-bottom:solid black 1.0pt;border-right:none;padding: 0in 5.4pt 0in 5.4pt;height:17.35pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>U.S. Business</font></p> </td>
        <td width="91" style='border-top:none;border-left:none;border-bottom: solid black 1.0pt;border-right:solid black 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height:17.35pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>11/26/2005</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:9pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><u><b><font size=2>Period 12 Sales Release</font></b></u></p>

<p style=' margin-bottom:0pt; margin-top:6pt;text-align:left;'><font size=2>Sales results for Period 12 (the four-week period ending November 26, 2005, for the U.S. businesses) will be released Thursday, December 1, 2005, after the market&#146;s closing.</font></p>

<p style=' margin-bottom:0pt; margin-top:6pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:6pt; margin-top:0pt;text-align:left;'><u><b><font size=2>Full-Year Outlook</font></b></u></p>


<table border="0" cellspacing=0 cellpadding=0 width="505" style='margin-left:5.4pt;border-collapse:collapse; '>
    <tr style='page-break-inside:avoid; height:11.85pt'>
        <td width="228" rowspan=2 valign=bottom style='border-top:solid black 1.0pt; border-left:solid black 1.0pt;border-bottom:none;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:11.85pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom: 1.0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18" valign=top style='border-top:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:11.85pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="5" valign=top style='border-top:solid black 1.0pt; border-left:none;border-bottom:none;border-right:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt;height:11.85pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><b><font size=2>Annual Outlook</font></b></p> </td></tr>

    <tr style='page-break-inside:avoid;height:12.55pt'>
        <td width="18" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:12.55pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="72" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:12.55pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align: center;margin-top:0pt;margin-bottom:1.0pt'><b><font size=2>Forecast</font></b><br> <b><font size=2>2005</font></b></p> </td>
        <td width="16" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:12.55pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:1.0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="63" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:12.55pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align: center;margin-top:0pt;margin-bottom:1.0pt'><b><font size=2>Actual</font></b><br> <b><font size=2>2004</font></b></p> </td>
        <td width="17" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:12.55pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:1.0pt'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=top style='border-top:none; border-left:none;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt;height:12.55pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align: center;margin-top:0pt;margin-bottom:1.0pt'><br> <b><font size=2>Incr/(Decr)</font></b></p> </td> </tr>
    <tr style='height:16.15pt'>
        <td width="228" style='border-left:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:16.15pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:3.0pt'><font size=2>EPS prior to Special Items</font></p> </td>
        <td width="18" style='padding:0in 5.4pt 0in 5.4pt; height:16.15pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align: center;margin-top:0pt;margin-bottom:3.0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="72" style='padding:0in 5.4pt 0in 5.4pt; height:16.15pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align: center;margin-top:0pt;margin-bottom:3.0pt'><font size=2>$2.64</font></p> </td>
        <td width="16" style='padding:0in 5.4pt 0in 5.4pt; height:16.15pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align: center;margin-top:0pt;margin-bottom:3.0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="63" style='padding:0in 5.4pt 0in 5.4pt; height:16.15pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align: center;margin-top:0pt;margin-bottom:3.0pt'><font size=2>$2.36</font></p> </td>
        <td width="17" style='padding:0in 5.4pt 0in 5.4pt; height:16.15pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align: center;margin-top:0pt;margin-bottom:3.0pt'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" style='border-right:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:16.15pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align: center;margin-top:0pt;margin-bottom:3.0pt'><font size=2>+12%</font></p> </td> </tr>
    <tr style='height:16.2pt'>
        <td width="228" style='border-left:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:16.2pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:3.0pt'><font size=2>Special Items EPS</font></p> </td>
        <td width="18" style='padding:0in 5.4pt 0in 5.4pt; height:16.2pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align: center;margin-top:0pt;margin-bottom:3.0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="72" style='padding:0in 5.4pt 0in 5.4pt; height:16.2pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align: center;margin-top:0pt;margin-bottom:3.0pt'><font size=2>$0.01</font></p> </td>
        <td width="16" style='padding:0in 5.4pt 0in 5.4pt; height:16.2pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align: center;margin-top:0pt;margin-bottom:3.0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="63" style='padding:0in 5.4pt 0in 5.4pt; height:16.2pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align: center;margin-top:0pt;margin-bottom:3.0pt'><font size=2>$0.06</font></p> </td>
        <td width="17" style='padding:0in 5.4pt 0in 5.4pt; height:16.2pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align: center;margin-top:0pt;margin-bottom:3.0pt'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" style='border-right:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:16.2pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align: center;margin-top:0pt;margin-bottom:3.0pt'><font SIZE=2>NM</font></p> </td> </tr>
    <tr style='height:16.65pt'>
        <td width="228" style='border-top:none;border-left:solid black 1.0pt; border-bottom:solid black 1.0pt;border-right:none; padding:0in 5.4pt 0in 5.4pt;height:16.65pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:3.0pt'><font size=2>Reported EPS</font></p> </td>
        <td width="18" style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:16.65pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align: center;margin-top:0pt;margin-bottom:3.0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="72" style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:16.65pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align: center;margin-top:0pt;margin-bottom:3.0pt'><font size=2>$2.65</font></p> </td>
        <td width="16" style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:16.65pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align: center;margin-top:0pt;margin-bottom:3.0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="63" style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:16.65pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align: center;margin-top:0pt;margin-bottom:3.0pt'><font size=2>$2.42</font></p> </td>
        <td width="17" style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:16.65pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align: center;margin-top:0pt;margin-bottom:3.0pt'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" style='border-top:none;border-left:none; border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt;height:16.65pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align: center;margin-top:0pt;margin-bottom:3.0pt'><font size=2>+10%</font></p> </td> </tr>
    <tr>
        <td width="228" ></td>

        <td width="18" ></td>

        <td width="72" ></td>

        <td width="16" ></td>

        <td width="63" ></td>

        <td width="17" ></td>

        <td width="91" ></td>

        <td width="1" ></td> </tr> </table>

<p style=' margin-bottom:0pt; margin-top:9pt;text-align:left;'><i><font size=2>Note: This forecast is prior to the impact of adopting SFAS123R.</font></i></p>

<p style=' margin-bottom:0pt; margin-top:6pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><u><b><font size=2>2005 Annual Conference for Investors &amp; Analysts</font></b></u></p>

<p style=' margin-bottom:0pt; margin-top:6pt;text-align:left;'><font size=2>Please note, Tuesday, December 6, Yum! Brands will host the company&#146;s Annual Conference for Investors and Analysts from approximately 8:00 a.m. to 1:00 p.m. EST, at The St. Regis Hotel in New York. Online registration is required before 5:00 p.m. EST Friday, December 2. To register, please access the link to the conference online registration at </font><i><font size=2>www.yum.com</font></i><font size=2>. Click on &#147;Register Now&#148; under &#147;Analyst/Investor Upcoming Events.&#148;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>If you have questions, call Yum! Brands Investor Relations at 888/298-6986</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>International Division</font></b><font size=2> includes all operations outside the U.S., with the exception of those reported in the China Division. Currently, the International Division includes more than 11,000 system restaurants in 100 countries and territories. The International Division&#146;s period close remains one period earlier than the company&#146;s period-end date to facilitate consolidated reporting.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:9pt;text-align:left;'><b><font size=2>China Division </font></b><font size=2>includes mainland China, Thailand, and KFC Taiwan. Based on restaurant counts at the end of the third-quarter 2005, the China Division includes 1,657 restaurants in mainland China, 370 restaurants in Thailand, and 132 KFC restaurants in Taiwan.</font></p>

<p style=' margin-bottom:0pt; margin-top:9pt;text-align:left;'><font size=2>For 2005, we have moved forward mainland China&#146;s business reporting calendar one period to more closely align the timing of reporting its results of operations with our U.S. business.</font></p>

<p style=' margin-bottom:0pt; margin-top:9pt;text-align:left;'><font size=2>For purposes of this sales release, we have compared calendar months included in China Division&#146;s current reporting calendar with those same months last year. However, for purposes of quarterly financial reporting, we will compare 2005 results with previously reported 2004 results. The 2004 results for mainland China reflect a lag of one period. For example, fiscal fourth-quarter 2005 results for mainland China will end December 31, 2005. Last year&#146;s fourth-quarter results ended November 30, 2004.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:9pt;text-align:left;'><b><font size=2>System-sales growth for our International and China businesses</font></b><font size=2> includes total sales from all restaurants regardless of ownership, including company-owned, franchise, license, and unconsolidated affiliate (joint-venture) restaurants. Sales of franchise, unconsolidated affiliate (joint-venture) and license restaurants generate franchise and license fees for the company (typically at a royalty rate of 4% to 6% of sales). Franchise, unconsolidated affiliate (joint-venture) and license restaurant sales are not included in the company sales we present on our Consolidated Statements of Income in accordance with U.S. GAAP; however, the franchise fees (which include on-going royalties and initial fees) are included in the company&#146;s revenues. We believe system-sales growth is useful to investors as a significant indicator of the overall strength of our business as it incorporates all our
revenue drivers, company and franchise same-store sales as well as new-restaurant development. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:9pt;text-align:left;'><b><font size=2>U.S. blended same-store sales</font></b><font size=2> include only company restaurants that have been open one year or more. U.S. blended same-store sales include KFC, Pizza Hut, and Taco Bell company-owned restaurants only. U.S. same-store sales for Long John Silver&#146;s and A&amp;W restaurants are not included. U.S. systemwide same-store-sales results including franchise restaurants are reported quarterly within the company&#146;s earnings release and include KFC, Pizza Hut, Taco Bell, Long John Silver&#146;s and A&amp;W restaurants. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

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<p style=' margin-bottom:0pt; margin-top:9pt;text-align:left;'><font size=2>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</font><i><font size=2> may, will, expect, project, anticipate, believe, plan</font></i><font size=2> 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. Accordingly, you are cautioned not to place undue reliance on forward-looking statements. Factors that can cause actual results to differ materially include, but are not
limited to, changes in global and local business, economic and political conditions in the countries and territories where Yum! Brands operates, including the effects of war and terrorist activities; changes in currency exchange and interest rates; changes in commodity, labor and other operating costs; changes in competition in the food industry, consumer preferences or perceptions concerning the products of the company and/or our competitors, spending patterns and demographic trends; the impact that any widespread illness or general health concern may have on our business and the economy of the countries in which we operate; the effectiveness of our operating initiatives and marketing, advertising and promotional efforts; new-product and concept development by Yum! Brands and other food-industry competitors; the success of our strategies for refranchising and international development and operations; the ongoing business viability of our franchise and license operators; our ability
to secure distribution to our restaurants at competitive rates and to ensure adequate supplies of restaurant products and equipment in our stores; unexpected disruptions in our supply chain; publicity that may impact our business and/or industry; severe weather conditions; effects and outcomes of pending or future legal claims involving the company; changes in effective tax rates; our actuarially determined casualty loss estimates; new legislation and governmental regulations or changes in legislation and regulations and the consequent impact on our business; and changes in accounting policies and practices. Further information about factors that could affect Yum! Brands&#146; financial and other results are included in the company&#146;s Forms 10-Q and 10-K, filed with the Securities and Exchange Commission.</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Yum! Brands Inc., based in Louisville, Kentucky, is the world&#146;s largest restaurant company in terms of system restaurants with nearly 34,000 restaurants in more than 100 countries and territories. Four of the company&#146;s restaurant brands &#151; KFC, Pizza Hut, Taco Bell and Long John Silver&#146;s &#151; are the global leaders of the chicken, pizza, Mexican-style food and quick-service seafood categories respectively. Yum! Brands is the worldwide leader in multibranding, which offers consumers more choice and convenience at one restaurant location from a combination of KFC, Taco Bell, Pizza Hut, A&amp;W or Long John Silver&#146;s brands. The company and its franchisees today operate over 3,100 multibrand restaurants. Outside the United States in 2004, the Yum! Brands&#146; system opened about three new restaurants each day of the year, making it one of the fastest growing retailers in the world. The
company has been recognized in </font><i><font size=2>Black Enterprise Magazine</font></i><font size=2> as one of the &#147;30 Best Companies for Diversity&#148; and for the past three years in </font><i><font size=2>Fortune&#146;s</font></i><font size=2> &#147;Top 50 Employers for Minorities.&#148;</font></p>

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