001222 Wendy's and Tim Hortons Report Strong November

Dublin, OH - Wendy's International, Inc. announced preliminary sales results for November, which ended on December 3.

At Wendy's company operated restaurants in the United States, same-store sales grew by 3.4% in November, on top of a 3.3% increase in the same month a year ago. Same-store sales are up 3.1% year to date.

At Tim Hortons restaurants in Canada, same-store sales were up 9% to 10% in November, on top of a 7.8% increase in the same month a year ago. Same-store sales are up more than 9% year to date.

At Tim Hortons in the U.S., same-store sales were up 16% to 17% in November.

“We are producing a strong fourth quarter as our positive sales momentum continues at Wendy's and Tim Hortons,” said Jack Schuessler, chief executive officer and president. “We continue to deliver consistently solid sales at Wendy's by focusing on restaurant operations, Service Excellence and our growing late night program.

“Tim Hortons continues to perform above our expectations with excellent performance in Canada and growing sales in the U.S.,” said Schuessler.

Due to the strong fourth quarter business trends, the Company recently raised its goal to grow earnings per share in 2000 to 17% to 19%, excluding asset gains and a non-recurring charge for closing restaurants in Argentina. The new EPS goal is up from the Company's previous range of 14% to 17%.

The Company's EPS were $1.26 in 1999, excluding asset gains. The Company generated $0.06 per share in asset gains during 1999 and $0.03 per share in asset gains through the first three quarters of 2000. Wendy's long-term goal for earnings per share growth continues to be in the 12% to 15% range.

The Company plans to publish its December sales report in early January 2001, and its fourth quarter and year 2000 results on February 9, 2001. Management will host a meeting in New York with investors on February 12, 2001. The meeting will be accessible via a conference call and will be web cast on the Internet. To access the Company's web site or to listen to previous web casts, go to www.wendys.com and select “investor information and news releases.”

Wendy's International, Inc. is one of the world's largest restaurant operating and franchising companies, with $7.1 billion in 1999 systemwide sales and two quality brands -- Wendy's and Tim Hortons. Wendy's Old Fashioned Hamburgers was founded in 1969 by Dave Thomas and is the third largest quick- service hamburger chain in the world with more than 5,600 restaurants in the United States, Canada and international markets. Tim Hortons was founded in 1964 by Tim Horton and Ron Joyce and is the largest coffee and fresh baked goods chain in Canada. There are nearly 1,800 restaurants in Canada and 120 in the U.S.

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