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Pizza Hut reports mixed sales for fourth quarter 2001

March 19, 2002

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LOUISVILLE, Ky. -- While fourth quarter blended sales for 2001 at Tricon Global Restaurants Inc. rose 7 percent, sales at its Pizza Hut chain were mixed.

Sales at stores open more than one year -- cited as same-store sales -- were up 3 percent, but blended sales at domestic Pizza Hut company stores were down 5 percent.

Same-store sales at Pizza Hut's sister companies, Taco Bell and KFC, were strong for the quarter: up 12 percent and 8 percent respectively. U.S. blended company store sales for both also were up: 8 percent and 7 percent, respectively.

Internationally sales growth remains steady for Tricon, and rose 3 percent after conversion to U.S. dollars. Year-to-date international system sales rose 2 percent after conversion.

Tricon will report fourth quarter and full-year 2001 earnings Feb. 11.