News Release

IHOP and Miss America Flip for Charity to Celebrate National Pancake Day

January 30, 2007

Free Pancakes to Benefit Charity on February 20
GLENDALE, CA, Jan 30, 2007 (MARKET WIRE via COMTEX News Network) -- Just one day after being crowned Miss America, Lauren Nelson, has been named the official spokesperson for National Pancake Day. On Tuesday, February 20, IHOP (NYSE: IHP) and Miss America will flip for charity with the second National Pancake Day celebration. IHOP will give away one free short stack of its famous buttermilk pancakes from 7 a.m. to 10 p.m. to all its guests, and in return, invite them to donate to their local children's hospital through Children's Miracle Network.

The newly crowned Miss America, Lauren Nelson, will take the stage as the official spokesperson for National Pancake Day, also known as Mardi Gras and Shrove Tuesday, a centuries-old tradition brought back to life by America's favorite pancake powerhouse. The Miss America Organization is also a partner of Children's Miracle Network, a non-profit organization dedicated to saving and improving the lives of children by raising funds for children's hospitals throughout the United States.

"National Pancake Day is the perfect occasion to bring together families and friends, while raising significant funds for their local communities," said Carolyn O'Keefe, Chief Marketing Officer of IHOP Corp. "We're thrilled to partner with Miss America to help spread this message in support of Children's Miracle Network, and truly make a difference in the lives of thousands of children."

"I am honored to be a part of National Pancake Day as my first official charitable duty as the National Goodwill Ambassador for Children's Miracle Network," said Lauren Nelson, of Lawton, Okla., who was crowned Miss America on January 29. "I love pancakes, and Children's Miracle Network is an important cause to the Miss America Organization and me personally, so I'm excited to help turn pancakes into miracles for children across the country."

Pancake Day has been celebrated for centuries in England on the day before Lent, with a tradition and lore all its own. Tradition prohibited the eating of all dairy products during Lent, so pancakes were made to use up the supply of eggs, milk and butter, hence the name Pancake Day.

All 1,302 IHOP restaurants will have a designated Children's Miracle Network hospital or other local charity as the recipient of funds raised on National Pancake Day. There is a limit of one free short stack per guest. The offer is valid at participating restaurants for dine-in only while supplies last, and is not valid with any other offer, special, coupon or discount. To find an IHOP location, please visit www.IHOP.com.

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 IHOP Corp. As of December 31, 2006, the end of IHOP's fourth quarter, there were 1,302 IHOP restaurants in 49 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 Web site located at www.ihop.com.

ABOUT CHILDREN'S MIRACLE NETWORK

Children's Miracle Network -- the alliance of premier hospitals for children -- is a non-profit organization dedicated to saving and improving the lives of children by raising funds for children's hospitals across North America. Each year the 170 Children's Miracle Network hospitals provide the finest medical care, life-saving research and preventative education to help millions of kids overcome diseases and injuries of every kind. To learn more go to www.childrensmiraclenetwork.org.

ABOUT THE MISS AMERICA ORGANIZATION

The Miss America Organization is one of the nation's leading achievement programs and the world's largest provider of scholarship assistance for young women. Last year, the Miss America Organization and its state and local organizations made available more than $45 million in cash and scholarship assistance. For more information, go to www.missamerica.org.

Jennifer Pendergrass
IHOP Corp.
818-637-3603

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


SOURCE: IHOP Corp.