Burger King Recent Developments:

February 21, 2006 | Paid a cash dividend of $367 million primarily the private equity funds controlled by the sponsors which owned approximately 95% of the outstanding shares of our common stock at that date, and members of senior management.

February 21, 2006 | Paid $33 million to holders of options and restricted stock unit awards, primarily members of senior management (refered to as the compensatory make-whole payment).

February 3, 2006 | Agreed to pay a one-time $30 million fee to terminate management agreement (approximately $9 million per year) with the sponsors effective upon becoming a publicly-traded company (refer to as the sponsor management termination fee).

INFO SOURCES

Regulatory Filing - SEC S1A

LINKED TO

Texas Pacific Group; Bain Capital Partners; Goldman Sachs Funds; TurnWorks, Inc. (Greg Brenneman, our former chairman and CEO)

HISTORY

1954 | James McLamore and David Edgerton opened the first Burger King restaurant in Miami, Florida

1967 | Founders sold Burger King Corporation to The Pillsbury Company in 1967,

1989 | The Pillsbury Company was purchased by Grand Metropolitan plc

2000 | Grand Metropolitan plc merged with Guinness plc to form Diageo plc, a British spirits company.

December 2002  |  Burger King Corporation was acquired by private equity funds controlled by Texas Pacific Group, Bain Capital Partners and the Goldman Sachs Funds