News Release

Stewart Is First Female Recipient of Hospitality Industry Award From The Elliot GroupGLENDALE, CA, May 04, 2007 (MARKET WIRE via COMTEX News Network) -- Julia A. Stewart, chairman and chief executive officer of IHOP Corp. (NYSE: IHP), was awarded the Elliot Mentor Award in recognition of her achievements as a leader in the foodservice industry. Stewart, who is the first female recipient of the award, was honored at this week's 22nd Annual Elliot Leadership Conference.

The Elliot Mentor Award recognizes individuals who have given a lifetime of timeless contribution, leadership and inspiration to the hospitality industry.

"Julia is a pioneer in the foodservice industry, working side by side and mentoring others, both in her organization and in the industry at large," said Alice Elliot, founder and chief executive officer of The Elliot Group, LLC. "She has definitely demonstrated the qualities that are most befitting of having peers recognize one's accomplishments. In such a fast-paced, competitive industry, mentors like her who inspire internally and externally are increasingly important as rising leaders navigate their challenging careers."

"Throughout my 35 years in the foodservice industry, I've been blessed with a number of great mentors who each have made a significant impact on my career," said Stewart. "I am honored to receive this award because mentoring is one key to developing future leaders of the restaurant industry. At IHOP we encourage and value mentoring, and I am pleased to accept this honor on behalf of the employees of IHOP."

The Elliot Group is the nationally recognized leader in executive search and strategic consulting in the hospitality, foodservice and manufacturing industries. Founded by Alice Elliot over 20 years ago, the Tarrytown, N.Y.-based Elliot Group is the parent company of Elliot Associates, an executive search firm, and Elliot Solutions, a human-resources consulting firm. The 22nd Annual Elliot Leadership Conference brought together restaurant executives for a day of sharing information and strategies to improve the industry, and was held May 2-3 at the Waldorf-Astoria Hotel in New York.

Past recipients of the Elliot Mentor Award include: Phillip J. Hickey, chairman and chief executive officer of RARE Hospitality; Norman Brinker, founder and chairman emeritus of Brinker International; Rick Federico, former chairman and chief executive officer of PF Chang's China Bistro; Joe Lee, former chairman and chief executive officer of Darden Restaurants, Inc; and Chris Sullivan, chairman of the board of OSI Restaurant Partners and co-founder and former chief executive officer of Outback Steakhouse.

ABOUT IHOP CORP.

The IHOP family restaurant chain has been serving a wide variety of breakfast, lunch and dinner selections for more than 45 years. Offering 14 types of pancakes as well as omelettes, breakfast specialties, burgers, sandwiches, salads, chicken and steaks, IHOP's diverse menu appeals to people of all ages. IHOP restaurants are franchised and operated by Glendale, California-based International House of Pancakes, Inc., a wholly owned subsidiary of IHOP Corp. As of March 31, 2007, the end of IHOP Corp.'s first quarter, there were 1,306 IHOP restaurants in 49 states, the U.S. Virgin Islands, Canada and Mexico. IHOP Corp. common stock is listed and 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 Web site located at www.ihop.com.

Jennifer Pendergrass
IHOP Corp.
818-637-3603

James Doyle/Tracy Garcia
IHOP News Bureau
866-202-6688

SOURCE: IHOP Corp.