News Release

IHOP's Gone Coconuts!

May 5, 2003
Family Restaurant Chain Continues Successful Campaign With Introduction of Paradise Pancakes

GLENDALE, Calif., May 5, 2003 /PRNewswire-FirstCall via COMTEX/ -- To kick off the summer months, IHOP (NYSE: IHP) restaurants nationwide are offering guests a slice of paradise here on the mainland. Infusing the flavor of the tropics into IHOP locations across the country, Paradise Pancakes are available in three warm weather varieties: South Pacific Pancakes, Banana Split Pancakes and Banana Macadamia Nut Pancakes. The national family restaurant chain today announced Paradise Pancakes will be served now through June 29, 2003 at all participating IHOP locations.

South Pacific Pancakes feature two of IHOP's famous buttermilk pancakes topped with grilled pineapple and toasted coconut, sprinkled with powdered sugar and crowned with whipped topping. Banana Split Pancakes tempt with two buttermilk pancakes drizzled with strawberries, blueberries, fresh bananas and granola followed by a scoop of strawberry yogurt or vanilla ice cream. Banana Macadamia Nut Pancakes delight with fresh banana slices, finely chopped macadamia nuts, lightly toasted coconut, powdered sugar and a dollop of whipped topping covering IHOP's award-winning buttermilk pancakes.

"IHOP serves over 700 million pancakes a year, and we pride ourselves on creating new and exciting flavors to keep our guests coming back for the IHOP experience," said Gregg Nettleton, chief marketing officer, IHOP Corp. "Paradise Pancakes are just one of the many innovative creations that guests can expect from IHOP's kitchen. This flavor will transport our guests to another part of the world -- if they can't make it to the tropics this summer, IHOP will bring paradise to them."

To complete their meal guests ordering Paradise Pancakes can choose from breakfast favorites such as eggs, bacon strips, pork sausage links or hash browns. Paradise Pancakes are available for a limited time only, and pricing will vary by location.

The IHOP family restaurant chain has been serving up a variety of mouthwatering selections for breakfast, lunch and dinner for more than 40 years. Offering more than 16 types of pancakes, omelettes and other breakfast specialties, as well as burgers, chicken and steaks, IHOP's diverse menu appeals to people of all ages. Restaurants are developed, operated and franchised by Glendale, Calif.-based IHOP Corp., which is publicly traded on The New York Stock Exchange under the ticker symbol "IHP." As of March 31, 2003, the end of the company's first quarter, there were 1,128 IHOP restaurants in 48 states and Canada. For more information, please call the company's headquarters at (818) 240-6055 or visit their Web site at http://www.ihop.com .