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Bill Falconer, Chairman Of Restaurant Brands, Ret

21 July 2006

Bill Falconer, Chairman Of Restaurant Brands, Retires.

Bill Falconer, chairman of Restaurant Brands, the New Zealand operator of three famous food brands - KFC, Pizza Hut and Starbucks Coffee - steps down today after nine years at the helm of the publicly listed company. Mr Falconer will be replaced by existing Restaurant Brands' director, Mr Ted van Arkel.

Mr Falconer was appointed to the board in May 1997.

Commenting on his retirement Mr Falconer said: "I have thoroughly enjoyed my time with Restaurant Brands and leave the company in good shape. In the early years we concentrated on the Pizza Hut franchise, first through the acquisition of Eagle Boys and then through new store openings, and achieved some significant growth. The task now is to consolidate that position in a much larger and more competitive market. In recent years we have been able to demonstrate through the KFC transformation programme that it is still an exciting concept with further growth potential. Throughout, Starbucks Coffee has just continued to grow and is now part of the New Zealand landscape. I look forward to watching this progress as an interested shareholder."

Mr. van Arkel, retired as managing director of Progressive Enterprises Ltd at the end of 2004 after the successful acquisition and integration of Woolworths NZ Ltd. Since his retirement Mr. van Arkel has become a full-time professional director and has been on the board of Restaurant Brands for nearly two years. During this time he has been particularly involved with the transformation process of KFC, has chaired the remuneration committee and represented Restaurant Brands as independent director during the potential takeover by CVC in 2005.

Commenting on his appointment Mr van Arkel said: "I am delighted to accept this responsibility and look forward to working with Vicki Salmon and the senior management team along with my fellow board directors. All of the brands that we represent here in New Zealand are exciting and we see opportunity for growth."

Mr van Arkel's appointment is effective today.


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