News Release

After six months of tracking taste preferences of more than 20,000 guests, IHOP (NYSE:IHP) today dishes out an improved menu in its first national new menu rollout since the company was founded in 1958. The menu features dozens of changes, including improved recipes for several IHOP favorites, a revised layout for easier reading, as well as 13 new items, all in response to the changing palate of American diners.

"IHOP's core customer is the average American, and they are clamoring for bolder flavors and more flexibility with their meal choices," said Carolyn O'Keefe, chief marketing officer, IHOP Corp. "We are consistently raising the bar as we gather more feedback from our guests. By listening to them, we have not only increased their overall satisfaction with this new menu, but also gone beyond breakfast to create greater appeal for the lunch and dinner crowd."

IHOP's extensive research on various menu items found that guests were looking for more "intense flavors," a "variety of fresh produce" and the "ability to customize flavors" for their own preferences. To accommodate its guests, the restaurant chain has done everything from spicing up their French fries and hash browns with more seasoning and adding a fresh Clubhouse Spinach Salad, to allowing guests to pick two entrees to create their own "Dinner Doubles."

For John Koch, the mastermind behind IHOP's menu change and IHOP's vice president, product, menu and purchasing, using guest feedback to select the new items was the best part of the process.

"I live, breathe and dream about new menu items," said Koch, a self-professed "foodie" and one of the top 50 research and development culinarians according to Nation's Restaurant News. "Every time I see a plate of food I think, 'How can I make this different?' 'Is this right for IHOP guests?' I must have sampled more than 300 salads, sandwiches and dinner entrees over the last six months, and it's been worth it just to see how much our guests enjoy eating our new dishes."

Some of the new selections include:

-- Grilled Cod Hollandaise -- Two tender cod filets lightly dusted in seasoned flour, then grilled to perfection. Topped with lemon hollandaise and served with fresh lemon.

-- Shrimp Caesar Salad -- Crispy buttermilk-battered popcorn shrimp served over romaine lettuce and Parmesan cheese. Tossed in Caesar dressing and served with toasted garlic bread.

-- Clubhouse Spinach Salad -- Fresh spinach leaves topped with hickory smoked bacon pieces, tomatoes, shredded Parmesan cheese, Bleu cheese crumbles and diced, crispy-fried chicken. Tossed in honey mustard dressing and served with toasted garlic bread. Guests may also substitute grilled chicken or Top Sirloin steak.

-- Supreme Ham & Three Cheese Omelet -- Our hearty omelet loaded with diced ham, Cheddar, Swiss and Jack cheeses.

In addition to the new menu, IHOP continues to introduce other specials that reflect Americans' changing tastes. Sourdough Cheese Grillers, IHOP's current limited time offer, feature specialty cheeses, such as Brie, Parmesan and Provolone, and sourdough bread grilled with herbs and Parmesan, and are served with three meat options. The sandwiches are available at participating IHOP locations for breakfast, lunch and dinner, from April 25 to June 26, starting at just $6.99.

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 March 31, 2005, the end of IHOP's first quarter, there were 1,198 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.

SOURCE: IHOP Corp.

IHOP Corp.           
Patrick Lenow, 818-637-3629   
patrick.lenow@ihop.com     
or
Cohn & Wolfe 
Jennifer Almer/Polyna Berlin, 310-967-2976/310-967-2963
jennifer_almer@cohnwolfe.com       
polyna_berlin@cohnwolfe.com