News Release

GLENDALE, Calif.--(BUSINESS WIRE)--June 26, 2006--Forget the tents, animals and rides; this summer's hottest celebration will be IHOP's Funnel Cake Carnival! Every day through September 3rd, IHOP (NYSE:IHP) will offer America's favorite fair food(1) at restaurants nationwide.

"Nothing says summer like the tasty goodness of hot, crispy funnel cakes," said Carolyn O'Keefe, IHOP's chief marketing officer. "Crowned with sweet fruit and cool whipped topping, our funnel cakes will delight guests of all ages looking for a tasty summer treat."

Served warm, the two delicious funnel cakes are garnished with creamy whipped topping, powdered sugar and the guest's choice of strawberry, blueberry or cinnamon-apple topping. Guests can show their patriotic spirit and celebrate Independence Day with a special 'red, white and blueberry' funnel cake, topped with strawberries, whipped topping and blueberries.

Funnel Cake Carnival is being offered as a complete meal, served with eggs, bacon, sausage or hash browns. They are also available as a dessert -- complete with vanilla ice cream, a choice of fruit topping and a dollop of creamy whipped topping. Price and participation may vary by location.

IHOP's Funnel Cake Carnival will be supported by a national television commercial from the award-winning "Come hungry. Leave happy." campaign. For more information on IHOP's Funnel Cake Carnival, please visit www.ihop.com.

ABOUT IHOP

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 14 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, 2006, the end of IHOP's first quarter, there were 1,252 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 Restaurant Support Center at (818) 240-6055 or visit the Company's Website located at www.ihop.com.

(1) Source: International Association of Amusement Parks and Attractions 2005; 28 percent of American adults prefer funnel cakes as their favorite amusement park food, 17 percent prefer ice cream, 14 percent prefer pizza, 13 percent prefer hot dogs, and 12 percent prefer cotton candy.

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    CONTACT: IHOP News Bureau
             Claudia Bloom or Arielle Wolin
             323-988-4656 or 323-988-4667
             ihopnews@carryonpr.com

    SOURCE: IHOP Corp.