News Release

GLENDALE, Calif.--(BUSINESS WIRE)--Jan. 3, 2006--IHOP Corp. (NYSE:IHP) today announced it will release 2006 performance guidance on Tuesday, January 31, 2006 before the market opens. The Company will host an investor conference call to discuss its 2006 performance guidance on Tuesday, January 31, 2006 at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time). To participate on the call, please dial 866-543-6405 and reference pass code 73569146.

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 February 7, 2006 by dialing 888-286-8010 and referencing pass code 98361493. An online archive of the webcast will also be available on the Investor Information section of IHOP's Web site.

About IHOP Corp.

IHOP, one of America's favorite family restaurants, has been serving a wide variety of breakfast, lunch and dinner selections for nearly 50 years. Famous for serving breakfast all day long, IHOP offers more than 14 types of pancakes as well as omelettes, breakfast specialties, burgers, sandwiches, chicken and steaks. 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 headquarters at (818) 240-6055 or visit the Company's Web site located at www.ihop.com.

    CONTACT: IHOP Corp.
             Stacy Roughan (Investor Relations), 818-637-3632

    SOURCE: IHOP Corp.