YUM 08 Guidance

Tim Jerzyk, Senior Vice President of Investor Relations/Treasurer at Yum! Brands, provided a detailed guidance update for full-year 2008. Key points included expectations of 12% EPS growth excluding special items and up to 16% including special items. Goals were to build leading brands across China, drive expansion in international markets, improve US brand positions and returns, and deliver industry-leading shareholder and franchisee returns. The guidance also provided financial targets for revenue growth, new restaurant openings, margins, ownership levels, and more for its divisions.