News Release

GLENDALE, Calif., Apr 26, 2005 (BUSINESS WIRE) -- For a limited time only, IHOP (NYSE:IHP) is transforming one of the most popular comfort foods to cater to Americans' increasingly sophisticated palates. IHOP's new Sourdough Cheese Grillers take grilled cheese sandwiches up a notch, combining contemporary meats and tangy sauces with the gourmet tastes of Brie, Parmesan and Provolone to create a new standard for an old fashioned favorite.

Driven by a taste for bigger, bolder flavors, studies have found that more Americans prefer the taste of high quality specialty cheeses, which include varieties of Gruyere, Brie, Feta, and zesty pepper Jack. In fact, according to the California Milk Advisory Board, the average American eats more than 30 pounds of cheese per year - that's equivalent to 333 grilled cheese sandwiches. In keeping with this trend, many prefer to pair their cheesy delights with finely crafted artisan breads. IHOP has taken notice and has added specialty cheeses and sourdough bread grilled with herbs and Parmesan to one of its menu items.

Served with a dill pickle spear and a choice of fries or onion rings, Sourdough Cheese Grillers come in three delicious flavors:

-- Roast Beef & Mushrooms - Tender, shaved roast beef combined with grilled mushrooms, melted Provolone and Cheddar cheeses, tomato slices and tangy horseradish sauce on grilled sourdough cheese bread.

-- Ham & Brie - Shaved ham with melted Brie and Provolone cheeses topped with a slice of tomato and tangy tomato mayonnaise on grilled sourdough cheese bread.

-- Turkey & Provolone - Shaved turkey and turkey salami, topped with melted Provolone cheese, tomato slices and tangy tomato mayonnaise on grilled sourdough cheese bread.

"The Sourdough Grillers are a perfect example of how IHOP, through careful research and testing, is constantly working to appeal to guests' changing tastes," said Carolyn O'Keefe, chief marketing officer, IHOP Corp. "Creative limited-time offers such as these, as well as the introduction of a new menu this May, are just some of the exciting changes IHOP is undergoing to deliver on its goal of delighting guests with something new on every visit."

Starting at just $6.99, Sourdough Cheese Grillers are available at participating IHOP locations for breakfast, lunch and dinner, from April 25 to June 26.

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 more than 16 types of pancakes as well as omelettes, breakfast specialties, burgers, sandwiches, chicken and steaks, IHOP's diverse menu appeals to people of all ages. IHOP restaurants are franchised and operated by Glendale, California-based IHOP Corp. As of March 31, 2005, the end of IHOP's first quarter, there were 1,198 IHOP restaurants in 48 states and Canada. 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.

SOURCE: IHOP Corp

IHOP Corp. 
Patrick Lenow, (818) 637-3629       
patrick.lenow@ihop.com     
or
Cohn & Wolfe
Jennifer Almer, (310) 967-2976 
jennifer_almer@cohnwolfe.com 
Polyna Berlin, (310) 967-2963
polyna_berlin@cohnwolfe.com