IHP I H O P Corp

IHOP Franchisee Sal Janmohammed to Develop Seven New Restaurants GLENDALE, Calif., Dec. 15 /PRNewswire-FirstCall/ -- IHOP Corp. today announced it has signed a Multi-Store Development Agreement (MSDA) with its existing franchisee, Salauddin Janmohammed. Mr. Janmohammed has agreed to develop seven new IHOP restaurants over the next seven years in Indiana, Iowa and Michigan. Mr. Janmohammed currently owns and operates 16 IHOP restaurants in Indiana, Illinois, Wisconsin, Iowa and Michigan, which together employ approximately 700 people. He has been an IHOP franchisee for the past 15 years, but has been involved in the restaurant industry since first arriving in the U.S. in 1985. Mr. Janmohammed attributes much of his success to the strength of the IHOP organization, which enables him and all those who support his operations to deliver solid and profitable results. Julia A. Stewart, IHOP's President and Chief Executive Officer, said, "Sal is a successful operator who believes in IHOP and the potential of the IHOP brand. We look forward to continuing our strong relationship with Sal as he expands his operations and helps to strengthen IHOP's presence in the Midwest." Salauddin Janmohammed, said, "During the past year, IHOP has set itself in the right direction with improved marketing, operations and training initiatives that are producing a tangible difference within my existing restaurants. Because of this strategy, I believe IHOP will continue to do well and I look forward to developing additional restaurants in strong markets where I expect to receive a positive customer response." Mr. Janmohammed plans to open his first restaurant under this agreement by June 2004. About IHOP Corp. The IHOP family restaurant chain has been serving a wide variety of breakfast, lunch and dinner selections for 45 years. Offering more than 16 types of pancakes, as well as omelettes, breakfast specialties, burgers, sandwiches, chicken and steaks, IHOP's diverse menu appeals to people of all ages. IHOP restaurants are developed, operated and franchised by Glendale, California based IHOP Corp. As of September 30, 2003, there were 1,149 IHOP restaurants in 48 states and Canada. IHOP is publicly traded on the NYSE under the symbol "IHP." For more information, call the Company's headquarters at (818) 240-6055 or visit the Company's Website located at http://www.ihop.com/ . Forward-Looking Statements There are forward-looking statements contained in this news release. They use such words as "may," "will," "expect," "believe," "plan," or other similar terminology. These statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results to be materially different than those expressed or implied in such statements. These factors include, but are not limited to: risks associated with the implementation of the Company's new strategic growth plan, the availability of suitable locations and terms of the sites designated for development; legislation and government regulation including the ability to obtain satisfactory regulatory approvals; conditions beyond IHOP's control such as weather, natural disasters or acts of war or terrorism; availability and cost of materials and labor; cost and availability of capital; competition; continuing acceptance of the International House of Pancakes brand and concepts by guests and franchisees; IHOP's overall marketing, operational and financial performance; economic and political conditions; adoption of new, or changes in, accounting policies and practices; and other factors discussed from time to time in IHOP's filings with the Securities and Exchange Commission. Forward-looking information is provided by IHOP pursuant to the safe harbor established under the Private Securities Litigation Reform Act of 1995 and should be evaluated in the context of these factors. In addition, IHOP disclaims any intent or obligation to update these forward-looking statements. DATASOURCE: IHOP Corp. CONTACT: Tom Conforti, Chief Financial Officer, +1-818-240-6055, or Stacy Roughan, Director, Investor Relations, +1-818-543-4138, both of IHOP Corp. Web site: http://www.ihop.com/ Company News On-Call: http://www.prnewswire.com/comp/442375.html

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