Triarc Acquires a Minority Interest in Jurlique

Business Wire,  July 8, 2004  

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NEW YORK -- Triarc Companies, Inc. (NYSE: TRY; TRY.B) announced today that it has acquired a 25% equity interest in Jurlique International Pty Ltd ("Jurlique"), a privately held Australian skin and health care products company, for approximately $25 million. At the closing, Triarc paid one-half of the purchase price, with the remainder, plus interest, due in July 2005. Triarc's interest will generally represent an approximate 14.3% voting interest in Jurlique.

Jurlique manufactures skin and health care products from natural, plant-based ingredients. Jurlique's products are sold through a number of channels in Australia and the United States including company-owned stores, wholesale accounts such as spas and beauty salons, department stores, franchised stores and duty-free outlets, as well as through licensees in locations other than Australia and the United States.

Commenting on the acquisition, Triarc's Chairman and Chief Executive Officer, Nelson Peltz, said: "With its unique franchise of natural health and beauty products, we believe that Jurlique is a brand capable of continued growth. As a result, we expect the value of our Jurlique minority interest to grow over time."

Triarc is a holding company and, through its subsidiaries, the franchisor of the Arby's(R) restaurant system and the operator of approximately 235 restaurants located in the United States.

Notes To Follow

Notes To Press Release

--The description of the acquisition contained herein is only a summary and is qualified in its entirety by reference to the definitive agreements relating to the investment.

--The statements in this press release that are not historical facts, including, most importantly, information concerning possible or assumed future results of operations of Triarc Companies, Inc. and its subsidiaries (collectively, "Triarc" or the "Company") and statements preceded by, followed by, or that include the words "may," "believes," "expects," "anticipates" or the negation thereof, or similar expressions, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). All statements that address operating performance, events or developments that are expected or anticipated to occur in the future, including statements relating to revenue growth, earnings per share growth or statements expressing general optimism about future operating results, are forward-looking statements within the meaning of the Reform Act. These forward-looking statements are based on our current expectations, speak only as of the date of this press release and are susceptible to a number of risks, uncertainties and other factors. Our actual results, performance and achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Reform Act. Many important factors could affect our future results and could cause those results to differ materially from those expressed in the forward-looking statements contained herein. Such factors include, but are not limited to, those risks and uncertainties affecting the Company detailed in the Company's Form 10-K for the fiscal year ended December 28, 2003 (see especially "Item 1. Business-Risk Factors" and "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations") and in our other current and periodic filings with the Securities and Exchange Commission, all of which are difficult or impossible to predict accurately and many of which are beyond our control. We will not undertake and specifically decline any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. In addition, it is our policy generally not to make any specific projections as to future earnings, and we do not endorse any projections regarding future performance that may be made by third parties.

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