LOUISVILLE, KY (December 5, 2005) – Yum! Brands, Inc. (NYSE:YUM) today announced the appointment of Greg Creed, 48, as Chief Operating Officer, reporting to Chairman and CEO David Novak. Creed replaces Dave Deno, who previously resigned for personal family reasons.

As COO, Creed will oversee the Company’s Operations, Restaurant Excellence, Quality Assurance, Multibranding, and the Long John Silver’s and A&W All-American Foods brands. Additionally, Creed will be forming and leading a dedicated team that will be charged to work with Yum! Restaurants International to help make Taco Bell a global brand. Brand Chief Operating Officers will report dually to their respective presidents and Creed, just as they did under Deno.

Creed is a U.S. and international restaurant industry veteran with a proven track record. Most recently, Creed has served as Chief Marketing Officer at Taco Bell, where he spearheaded the development and execution of the Think Outside The Bun marketing efforts that generated same store sales growth during the last five consecutive years. Prior to that, Creed served as Chief Marketing Officer and Interim General Manager of the KFC and Pizza Hut businesses in Australia and at various business-building roles at Unilever. “Greg Creed is the perfect choice to drive global operations improvement, strengthen the LJS and A&W concepts and further expand Taco Bell International. He has a great understanding of the power of customer focus, process and discipline and the commercial savvy that is required to drive both sales and profit growth,” said David C. Novak, Yum! Brands Chairman and Chief Executive Officer. “I am very gratified that we have an outstanding depth of talent and experience at YUM to seamlessly transition management responsibilities and grow deserving leaders,” Novak added.

The company announced Bill Pearce, 43, will replace Greg Creed as Chief Marketing Officer at Taco Bell. Pearce was recruited to Taco Bell last year to serve as Chief Marketing Officer-designate in anticipation of a potential future role for Creed. He has an extensive consumer product marketing background, having held senior marketing positions most recently with Campbell Soup, and previously at Procter and Gamble, Coca-Cola USA and Miller Brewing Company. “Bill Pearce is a seasoned consumer marketing executive, with strong leadership skills, consumer insights and a proven track record of results. He has played an integral role on the team responsible for Taco Bell’s sales results this past year and will make an excellent Chief Marketing Officer,” said Emil J. Brolick, Taco Bell president.

Yum! Brands Inc., based in Louisville, Kentucky, is the world's largest restaurant company in terms of system restaurants with more than 34,000 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 2,900 multibrand restaurants. Outside the United States in 2004, 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. In 2002, the company changed its name to Yum! Brands Inc. from Tricon Global Restaurants Inc. to reflect its expanding portfolio of brands and its ticker symbol on the New York Stock Exchange. For the past three years, the company has been recognized in Fortune Magazine's top 50 "Best Companies for Minorities," claiming the number-one spot for "managerial diversity." It also has been recognized by Fortune as one of the “Top 50 Companies for Women,” Black Enterprise as one of the “Top 30 Companies for African-Americans,” by Hispanic Magazine as one of the “Top 100 Companies for Hispanics” and by Business Week as one of the “Top 10 Companies for In-Kind Corporate Philanthropy.”