Arby's(R) Franchisee Amends Recent Development Agreement; Deal Adds 60 Arby's Restaurants to New Jersey Markets

May 21, 1998, 01:00 ET from Arby's

    FORT LAUDERDALE, Fla., May 21 /PRNewswire/ -- Triarc Restaurant Group,
 franchisor of Arby's(R) Restaurants, today announced that it has signed an
 amended development agreement with Atlanta-based Sybra, Inc. which calls for
 the construction of 60 Arby's Restaurants in New Jersey.
     Sybra signed an agreement with Triarc Restaurant Group in November 1997
 which calls for the construction of 150 Arby's Restaurants in Philadelphia,
 Harrisburg, Washington, D.C., Baltimore, Detroit and Dallas/Fort Worth.
 Through the amended agreement, Sybra will build an additional 60 Arby's
 Restaurants in nine northern and central New Jersey counties over the next
 nine years.
     "This latest agreement with Sybra reflects our strategy for growing the
 Arby's brand, both by filling in markets where we have moderate penetration
 and by aggressively developing new markets through the execution of multi-unit
 development agreements," said Roland Smith, president and CEO of Triarc
 Restaurant Group. "With just over 3,100 units worldwide, Arby's has room to
 grow, and we are pleased that Sybra's principals feel strongly enough about
 the Arby's concept and its future to enter into an agreement of this
 magnitude."
     The amended agreement, which will add 210 Arby's Restaurants to the
 system, matches the record for the single largest development agreement to be
 signed in the 34-year history of the company.
     "We have a lot of positive momentum going in the area of new unit
 development," said Ken Johnston, senior vice president of Business Development
 for Triarc Restaurant Group. "This 60-store extension from the original
 agreement of 150 clearly indicates the confidence our franchisees have in the
 Arby's brand."
     There are currently only eight Arby's Restaurants in the state of New
 Jersey. The 60 restaurants identified in the Sybra agreement will be
 constructed in Hunterdon, Middlesex, Monmouth, Morris, Ocean, Passaic,
 Somerset, Sussex and Warren counties.
     "We are very pleased to have secured the additional exclusive rights to
 develop nine important counties located in New Jersey," said James R. Arabia,
 Chairman and Chief Executive Officer of ICH and President of Sybra. "The
 densely populated state of New Jersey is virtually untapped by the franchise,
 with only eight Arby's restaurants, and we believe that these nine counties
 offer some of the most exciting development potential in the state."
     Triarc Restaurant Group, a subsidiary of Triarc Companies, Inc.
 (NYSE:   TRY), franchises more than 3,100 single and dual-branded restaurants
 worldwide, including Arby's, T.J. Cinnamons(R) and p.t. Noodle's(R).
 Systemwide sales for 1997 were more than $2 billion.
     I.C.H. Corporation (Amex:   IH) is a Delaware holding corporation which,
 through its principal operating subsidiary, Sybra, Inc., is the second largest
 Arby's franchisee in the United States, currently operating 163 Arbys
 restaurants located primarily in Texas, Florida, Michigan, Pennsylvania and
 California.
 

SOURCE Arby's
    FORT LAUDERDALE, Fla., May 21 /PRNewswire/ -- Triarc Restaurant Group,
 franchisor of Arby's(R) Restaurants, today announced that it has signed an
 amended development agreement with Atlanta-based Sybra, Inc. which calls for
 the construction of 60 Arby's Restaurants in New Jersey.
     Sybra signed an agreement with Triarc Restaurant Group in November 1997
 which calls for the construction of 150 Arby's Restaurants in Philadelphia,
 Harrisburg, Washington, D.C., Baltimore, Detroit and Dallas/Fort Worth.
 Through the amended agreement, Sybra will build an additional 60 Arby's
 Restaurants in nine northern and central New Jersey counties over the next
 nine years.
     "This latest agreement with Sybra reflects our strategy for growing the
 Arby's brand, both by filling in markets where we have moderate penetration
 and by aggressively developing new markets through the execution of multi-unit
 development agreements," said Roland Smith, president and CEO of Triarc
 Restaurant Group. "With just over 3,100 units worldwide, Arby's has room to
 grow, and we are pleased that Sybra's principals feel strongly enough about
 the Arby's concept and its future to enter into an agreement of this
 magnitude."
     The amended agreement, which will add 210 Arby's Restaurants to the
 system, matches the record for the single largest development agreement to be
 signed in the 34-year history of the company.
     "We have a lot of positive momentum going in the area of new unit
 development," said Ken Johnston, senior vice president of Business Development
 for Triarc Restaurant Group. "This 60-store extension from the original
 agreement of 150 clearly indicates the confidence our franchisees have in the
 Arby's brand."
     There are currently only eight Arby's Restaurants in the state of New
 Jersey. The 60 restaurants identified in the Sybra agreement will be
 constructed in Hunterdon, Middlesex, Monmouth, Morris, Ocean, Passaic,
 Somerset, Sussex and Warren counties.
     "We are very pleased to have secured the additional exclusive rights to
 develop nine important counties located in New Jersey," said James R. Arabia,
 Chairman and Chief Executive Officer of ICH and President of Sybra. "The
 densely populated state of New Jersey is virtually untapped by the franchise,
 with only eight Arby's restaurants, and we believe that these nine counties
 offer some of the most exciting development potential in the state."
     Triarc Restaurant Group, a subsidiary of Triarc Companies, Inc.
 (NYSE:   TRY), franchises more than 3,100 single and dual-branded restaurants
 worldwide, including Arby's, T.J. Cinnamons(R) and p.t. Noodle's(R).
 Systemwide sales for 1997 were more than $2 billion.
     I.C.H. Corporation (Amex:   IH) is a Delaware holding corporation which,
 through its principal operating subsidiary, Sybra, Inc., is the second largest
 Arby's franchisee in the United States, currently operating 163 Arbys
 restaurants located primarily in Texas, Florida, Michigan, Pennsylvania and
 California.
 SOURCE  Arby's