News Release

IHOP Corp. to Present at the SG Cowen and Integrated Corporate Relations Investor Conferences in January 2004

January 7, 2004

GLENDALE, Calif.--(BUSINESS WIRE)--Jan. 7, 2004--IHOP Corp. (NYSE:IHP) today announced that management will present a company overview at two investor conferences during the month of January 2004. IHOP will present at the SG Cowen 2nd Annual Consumer Conference on January 14, 2004, at 10:30 a.m. Eastern in New York, New York. On January 16, 2004, management will present at the Integrated Corporate Relations (ICR) 6th Annual XChange Conference at 1:55 p.m. Eastern (10:55 a.m. Pacific) in Huntington Beach, California.

Live webcasts of each presentation will be available on the Investor Relations section of IHOP's Web site at www.ihop.com. Participants should allow approximately ten minutes prior to the presentation start time to visit the site and download any streaming media software needed to listen to the webcasts. An archive of the webcasts will be available a few hours after each presentation is completed.

About IHOP Corp.

The IHOP family restaurant chain has been serving a wide variety of breakfast, lunch and dinner selections for 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 operated and franchised by Glendale-based IHOP Corp. As of September 30, 2003, there were 1,149 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 Web site, located at www.ihop.com.


    CONTACT: IHOP Corp.
             Stacy Roughan, 818-543-4138

    SOURCE: IHOP Corp.