News Release

GLENDALE, Calif.--(BUSINESS WIRE)--Jan. 10, 2005--IHOP Corp. (NYSE: IHP) today announced it will release 2005 performance guidance on Wednesday, January 26, 2005 before the market opens. The Company will host an investor conference call to discuss its 2005 performance guidance on Wednesday, January 26, 2005 at 11:00 a.m. ET (8:00 a.m. PT). To participate on the call, please dial 888-396-2298 and reference pass code 79738586.

A live webcast of the call will be available on IHOP's Web site at www.ihop.com, and may be accessed by visiting Conference Calls & Presentations under the site's Investor Information section. Participants should allow approximately ten minutes prior to the call's start time to visit the site and download any streaming media software needed to listen to the webcast.

A telephonic replay of the call may be accessed through Wednesday, February 2, 2005 by dialing 888-286-8010 and referencing pass code 72827325. An online archive of the webcast will also be available on the Investor Information section of IHOP's Web site.

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 December 31, 2004, the end of IHOP's fourth quarter, there were 1,184 IHOP restaurants in 48 states and Canada. IHOP is publicly 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 Website located at www.ihop.com.

    CONTACT: IHOP Corp.
             Stacy Roughan, 818-637-3632

    SOURCE: IHOP Corp.