News Release

GLENDALE, Calif.--(BUSINESS WIRE)--Sept. 6, 2005--Whether topped with syrup or sprinkled with powdered sugar, one thing is clear: French toast is a breakfast favorite among hungry consumers around the world. IHOP (NYSE:IHP), a leading provider of this popular dish, understands that people enjoy traditional French toast but desire a variety of flavors. To celebrate the many ways that America's favorite toast can be served, IHOP has introduced French Toast Festival, inviting guests to enjoy three different variations of this tempting treat for a limited time.

"Our guests love French toast, and in true IHOP fashion, we're making it even more fun by creating new tastes giving them more options," said Carolyn O'Keefe, chief marketing officer, IHOP Corp. "We are providing our guests with the ultimate in choice as for the first time one promotion will feature our most popular French toasts."

Contrary to popular belief, "French toast" may not be "French" at all. In fact, several recipes have been traced to the ancient Romans, with the first reference to the sweet dish dating back to the medieval times. Another story tells that the popular bread delight originated in a roadside tavern near Albany, NY in 1724, where American Restaurateur Joseph French created the dish by frying bread slices in egg batter and named it after himself.

In addition to serving French toast in its classic form, IHOP also takes the dish up a notch by offering decadent flavors and fun textures. Guests can enjoy the popular menu item in three sweet versions including:

    --  Cinnamon Swirl French Toast - sweet, flaky cinnamon roll
        sliced and grilled French toast-style.

    --  Stuffed French Toast - IHOP's signature warm, cinnamon-raisin
        French toast stuffed with sweetened cream cheese and crowned
        with whipped topping, powdered sugar and the guest's favorite
        fruit topping.

    --  Classic French Toast - two fluffy triangle-shaped slices,
        lightly dusted with powdered sugar.

Starting at just $4.99, French Toast Festival is served with two eggs, crisp hickory-smoked bacon or two pork sausage links and golden hash browns. They are available from September 5 through October 30, 2005 at participating IHOP locations for breakfast, lunch and dinner.

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 June 30, 2005, the end of IHOP's second quarter, there were 1,207 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.

    CONTACT: IHOP Corp.
             Patrick Lenow, 818-637-3629
             patrick.lenow@ihop.com

    SOURCE: IHOP Corp.