• Brolick Appointed President of U.S. Brand Building
• Hearl Appointed YUM Brands Chief Operating and Development Officer
• Creed Appointed President of Taco Bell Corp.
• Bergren Appointed President of Pizza Hut Inc.

The reorganization to the Company’s U.S. business is effective December 1, 2006, and includes: Emil Brolick, 59, appointed President of U.S. Brand Building, a newly created role; and Peter Hearl, 55, appointed Yum! Brands Chief Operating and Development Officer, a newly combined role. Both officers report directly to David C. Novak, Yum! Brands Chairman and Chief Executive Officer. Additionally, the Company appointed Greg Creed, 49, President of Taco Bell Corp., replacing Brolick; and Scott Bergren, 60, President of Pizza Hut Inc., replacing Hearl. Gregg Dedrick, 48, President of KFC Corp., continues in his current role. All three domestic brand Presidents will now report to Brolick. Sam Su, President of Yum! China Division, and Graham Allan, President of Yum! Restaurants International, continue to report directly to Novak, as do the executive officers of the Company.

Brolick has served as President of Taco Bell for six years, joining the Company from Wendy’s in 2000, where he served as SVP, New Product Marketing, Research and Strategic Planning. He is a 30-year seasoned veteran of the quick service restaurant industry, product development, marketing and business planning. “Emil Brolick has led Taco Bell to five consecutive years of sales, transaction and profit growth, and has demonstrated he is one of the most talented brand builders in the entire restaurant industry,” said David C. Novak. “Under his leadership, Taco Bell has strengthened its differentiation and value leadership, and has become the second most profitable restaurant concept in the U.S. I’m excited he will leverage his tremendous experience across all our U.S. brands to build powerful and sustainable growth.” In this new role, Brolick will be responsible for working with the U.S. brand presidents to build even stronger brands, including institutionalizing the company’s Yum! Insight Marketing Model, ensuring a fully stocked pipeline of new products, driving branded service and training, and seeking major productivity gains. He also will take accountability for engraining category and consumer knowledge across the Company and identifying possible synergies that will leverage scale and maximize efficiencies.

Hearl joined the Company in 1991, and most recently served as President of Pizza Hut in the U.S. He has a strong business and operations track record, having served as Chief People Officer for Yum! Brands, Inc. and as Chief Operating Officer for Yum! Restaurants International. Prior to that, Hearl led the Company’s KFC and Pizza Hut businesses in Europe, Australia, New Zealand, South Africa, and the Asia Pacific region, while establishing the Company’s groundwork for success in India.

“Peter Hearl is the very best operator we have in our system and he is ideally suited for this important job. He has a demonstrated track record building great businesses around the world, and has helped institutionalize our global operating platform and people-focused culture to dramatically improve customer satisfaction,” Novak said. As President of Pizza Hut, Hearl introduced a number of highly successful new products and has recently led a major repositioning of the brand to be launched in 2007. He also is credited with building the Pizza Hut/WingStreet multibrand concept into the single largest wings brand, worldwide. In his new role, Hearl will have responsibility for significantly improving system operations and opening new restaurants by working with company leaders and franchisees. The divisional Chief Operating Officers will dually report to Hearl and their respective brand presidents. Chuck Rawley, Chief Development Officer in the U.S., and the leadership teams at Long John Silver’s and A&W All American Food, also will report directly to him.

As Chief Marketing Officer at Taco Bell, Creed spearheaded the “Think Outside the Bun” marketing efforts and new product introductions that generated consistent same store sales and profit growth during the last five years. He also served as Chief Marketing Officer and Interim General Manager of the KFC and Pizza Hut businesses in Australia, and at various businessbuilding roles at Unilever. He most recently served as Chief Operating Officer at Yum! Brands, focused on upgrading restaurant service across the system. “Greg has tremendous creativity and energy, strong leadership skills and all the commercial savvy required to run and grow Taco Bell, our highest profit business in the U.S.,” Novak said.

Bergren brings strong leadership and pizza category credentials to the Pizza Hut team. During his career, he successfully ran the Pizza Hut businesses in Mexico and Central America, and previously headed Round Table Pizza and Chevy’s Mexican Restaurants. Most recently, Bergren was the Executive Vice President, Chief Marketing and Food Innovation Officer for Yum! Brands, including direct accountability for KFC, where he introduced the “Chicken Capital USA” advertising campaign and a number of successful new products, including the 99-cent Snacker, and KFC’s Famous Bowls. Novak said “Scott Bergren is a true brand builder and concept leader. His combination of consumer insights and business acumen will take our Pizza Hut turnaround strategy to the next level, building sustainable brand growth for the long-term.” “We now have what I would call a ‘dream team’ for sustainable sales and profit performance in our U.S. business. We’ve put the best aces in the best places. Emil Brolick is our top brand builder; Peter Hearl is the consummate operating leader; and we’ve placed the best possible concept leaders, Greg Creed, Scott Bergren and Gregg Dedrick, at each of our domestic brands. This is a winning combination and I am confident it will lead to stronger growth of our U.S. businesses,” Novak added.

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, project, anticipate, believe, plan and other similar terminology. These “forward-looking” statements reflect management’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’ financial and other results are included in the company’s Forms 10-Q and 10-K, filed with the Securities and Exchange Commission.

Yum! Brands Inc., based in Louisville, Kentucky, is the world’s largest restaurant company in terms of system restaurants with over 34,000 restaurants, which includes over 2,000 licensed restaurants, in more than 100 countries and territories. Four of the company’s restaurant brands — KFC, Pizza Hut, Taco Bell and Long John Silver’s — 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&W or Long John Silver’s brands. The company and its franchisees today operate over 3,400 multibrand restaurants. Outside the United States in 2005, the Yum! Brands’ system opened about three new restaurants each day of the year, making it one of the fastest growing retailers in the world. For the past four years, the company has been recognized as one of Fortune Magazine’s “Top 50 Employers for Minorities.” It also has been recognized as one of the “Top 50 Employers for Women” by Fortune, one of the “40 Best Companies for Diversity” by Black Enterprise Magazine for the past two years and one of Black Enterprise’s “30 Hottest Franchises for 2006,” one of the “Corporate 100 Companies Providing Opportunities for Hispanics” by Hispanic Magazine, one of the “Top 50 Corporations for Supplier Diversity” by Hispanic Trends Magazine and by BusinessWeek as one of the “Top 15 Companies for In-Kind Corporate Philanthropy.”