Wendy's International (WEN)

Treasury Stock Purchases

Our management is currently authorized, when and if market conditions warrant and to the extent legally permissible, to repurchase through June 30, 2007 up to a total of $50.0 million of our class A and class B common stock. However, due to the previously announced potential corporate restructuring, as discussed in more detail below under “Potential Corporate Restructuring,” we expect to be precluded from repurchasing

56

shares at certain times. We did not make any treasury stock purchases during 2006 and we cannot assure you that we will repurchase any shares under this program in the future.

Treasury Stock Purchases

       Our management is currently authorized, when and if market conditions warrant and to the extent legally permissible, to repurchase through June 30, 2006 up to a total of $50.0 million of our class A and class B common stock. However, due to the previously announced potential corporate restructuring, previously discussed above under “Introduction and Executive Overview,” we expect to be precluded from repurchasing shares at certain times. We did not make any treasury stock purchases during 2005 and we cannot assure you that we will repurchase any shares under this program in the future.