News Release

I-Hopping Around for the Perfect Stocking Stuffer? Just in Time for the Holidays, IHOP Becomes Largest Family Restaurant to Offer Gift Card Program

December 1, 2005
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GLENDALE, Calif.--(BUSINESS WIRE)--Dec. 1, 2005--According to a survey conducted by the National Retail Federation, sales of gift cards this holiday season will rise 6.6 percent to $18.5 billion. The survey found the average consumer will spend $88.03 on the cards, which is 15.6 percent of a typical holiday gift budget(1). In response to rising demand for restaurant gift cards, and just in time for the holidays, IHOP has become the largest family restaurant - and the only family restaurant with locations coast to coast - to offer gift cards.

"We know our guests are often pressed for time, particularly around the holidays," said Carolyn O'Keefe, chief marketing officer of IHOP. "The IHOP Gift Card is easy to pick up and makes the ideal gift or stocking stuffer for teachers, friends and families."

Available in IHOP's 1,218 restaurants nationwide, gift cards are sold in any denomination from $5 to $50.

To purchase an IHOP Gift Card, please visit your closest IHOP. You may visit the restaurant locator on www.ihop.com to find the nearest location.

About IHOP

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 14 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 September 30, 2005, the end of IHOP's third quarter, there were 1,218 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 Restaurant Support Center at 818-240-6055 or visit the Company's Website located at www.ihop.com.

(1) Bradley Johnson, "Inside the Christmas-Shopping Mind," AdAge.com 28 Nov. 2005.


    CONTACT: CarryOn Communication
             Jill Hoffman, 323-988-4645
             jillh@carryonpr.com
             or
             IHOP Corp.
             Patrick Lenow, 818-637-3629
             patrick.lenow@ihop.com

    SOURCE: IHOP Corp.