Wendy's International (WEN)

Presentation of Financial Information

We report on a fiscal year consisting of 52 or 53 weeks ending on the Sunday closest to December 31. However, Deerfield, the Opportunities Fund and DM Fund report or reported on a calendar year ending on December 31. Our 2004 fiscal year contained 53 weeks and each of our 2005 and 2006 fiscal years contained 52 weeks. In this discussion, we refer to the additional week in 2004 as the 53rd week in 2004. Our 2004 fiscal year commenced on December 29, 2003 and ended on January 2, 2005 except that for this period, Deerfield and the Opportunities Fund are included commencing July 23, 2004 and October 4, 2004, respectively, through their calendar year-end of December 31, 2004. Our 2005 fiscal year commenced on January 3, 2005 and ended on January 1, 2006 except that (a) RTM is included commencing July 26, 2005 and (b) Deerfield, the Opportunities Fund and, commencing March 1, 2005, the DM fund are included on a calendar year basis. Our 2006 fiscal year commenced on January 2, 2006 and ended on December 31, 2006 except that (a) Deerfield and the DM Fund are included on a calendar year basis and (b) the Opportunities Fund is included from January 1, 2006 through its September 29, 2006 redemption date. All references to years relate to fiscal years rather than calendar years, except for Deerfield, the Opportunities Fund and the DM Fund.

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Presentation of Financial Information

       We report on a fiscal year consisting of 52 or 53 weeks ending on the Sunday closest to December 31. However, Deerfield, the Opportunities Fund and DM Fund, LLC report on a calendar year ending on December 31. Each of our 2003 and 2005 fiscal years contained 52 weeks and our 2004 fiscal year contained 53 weeks. In this discussion, we refer to the additional week in 2004 as the 53rd week in 2004. Our 2003 fiscal year commenced on December 30, 2002 and ended on December 28, 2003. Our 2004 fiscal year commenced on December 29, 2003 and ended on January 2, 2005. Our 2005 fiscal year commenced on January 3, 2005 and ended on January 1, 2006. All references to years relate to fiscal years rather than calendar years, except for Deerfield, the Opportunities Fund and DM Fund, LLC.

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