News Release

GLENDALE, Calif., Jul 31, 2003 /PRNewswire-FirstCall via COMTEX/ -- A State of the Plate survey conducted by IHOP Corp. (NYSE: IHP) reveals that President George W. Bush is the number one choice of Americans who were asked with whom they would most like to enjoy a meal.

The IHOP State of the Plate survey also reveals that despite economic and employment woes, many Americans have not reduced the number of times they dine out compared with a year ago. In fact, 50 percent of respondents dine out the same amount and more than 20 percent of respondents say they have dined out more this year than last year. The survey also found that the hours of 5 p.m. to 7 p.m. are the most popular times for Americans to eat out at family dining restaurants.

The survey, conducted by IHOP in conjunction with the introduction of its new line of Super Stacker sandwiches, found that 28 percent of respondents would like to dine with the Commander in Chief. Nineteen percent chose funny-man Jim Carey followed by Hillary Clinton (14 percent), actress/singer Jennifer Lopez, golfer Tiger Woods (10 percent) and celebrity Sharon Osbourne (6 percent).

"With all the president has stacked on his plate right now, the last thing he needs is the shock and awe of a growling stomach," said Gregg Nettleton, Chief Marketing Officer for IHOP Corp. "We think he'd be a perfect candidate for one of our new Super Stacker sandwiches, which have been receiving pretty good approval ratings of their own."

Super Stackers sandwiches are the latest way IHOP has expanded its all-day dining menu. Super Stackers received high guest satisfaction in test markets with three delicious varieties of sandwiches:

     -- Savory Steak Sandwich: Covered with Cheddar cheese, mushrooms,
        onions, lettuce, tomatoes, mayonnaise and honey mustard sauce;
     -- Grilled Smoked Turkey Sandwich: Accompanied by Swiss cheese, lettuce,
        tomatoes, mayonnaise, green peppers and onions; and
     -- Chicken Bacon Sandwich: Topped with Cheddar cheese, crisp bacon, Ranch
        dressing, lettuce, tomatoes, mayonnaise, green peppers and onions.

All Super Stackers are served with a dill pickle spear and come with a choice of french fries, onion rings, soup or salad.

     Other results of the IHOP 2003 State of the Plate survey included:

     -- It's a Matter of Taste - The most important factor for
        fifty-six percent of Americans in choosing a mid-priced, family dining
        chain restaurant is great tasting food.  Twenty-two percent felt
        reasonable price was most important, while 11 percent preferred a
        welcoming atmosphere.
     -- Boycott in the Kitchen - The number one reason why Americans go to
        family restaurants is because they don't want to cook, as indicated by
        43 percent of respondents.  Twenty-three percent visit family
        restaurants as a place to have fun with the family, while 16 percent
        go to socialize with friends.
     -- Youth Gone Wild - President Bush showed impressive strength as
        America's favorite dining companion across all ages groups except one:
        18-24 years old.  Young Americans chose Jim Carey with 37 percent
        compared with the President's 17 percent, while J-Lo claimed second
        place with 24 percent.

The State of the Plate survey was conducted through an Opinion Research Corporation CARAVAN Survey from June 26-29, 2003 to determine how family dining restaurants stack up with today's consumers. Telephone surveys were conducted of 1,010 adults 18 years of age or older, living in private households in the continental United States. The survey has an error margin of approximately +/- 3 percent.

About IHOP Corp.

The IHOP family restaurant chain has been serving a wide variety of breakfast, lunch and dinner selections for 45 years. Offering more than 16 types of pancakes, as well as omelettes, breakfast specialties, burgers, chicken and steaks, IHOP's diverse menu appeals to people of all ages. IHOP restaurants are developed, operated and franchised by Glendale, California based IHOP Corp. As of June 30, 2003, the end of the company's first quarter, there were 1,136 IHOP restaurants in 48 states and Canada. IHOP is publicly traded on the NYSE under the symbol "IHP." For more information, call the Company's headquarters at (818) 240-6055 or visit the Company's Website located at www.ihop.com .