AFC Chief Executive Officer Kenneth Keymer stated, "2005 was a very successful year of transition for AFC, including the shift to an appropriate infrastructure for a single brand organization, settlement of shareholder litigation and continued strong operating performance from Popeyes Chicken & Biscuits. The Popeyes team managed through many challenges to deliver strong operating results with domestic same-store sales growth in the fourth quarter of 2005, up 6.9 percent, and slightly exceeding full year expectations by delivering 3.3 percent domestic same-store sales growth and opening 123 system-wide restaurants. We are also very pleased to report our sixth consecutive quarter of same-store sales growth. Based upon early performance in 2006 we are optimistic that the positive trend in restaurant growth and same-store sales growth will continue."

"Strong same-store sales growth was a result of several factors. Throughout 2005, the Company focused its messaging on Popeyes' differentiated products and taste superiority, while using limited time offers (LTO's) to reinforce Popeyes' ability to deliver great tasting food across a variety of categories and across all dayparts. During the year, Popeyes successfully introduced Popeyes Naked Chicken Strips(TM), the Big Flava(TM) Deluxe chicken sandwich line and several flavors and types of chicken wing products. Additionally, we had very strong responses to our quarterly seafood offerings which included Southwest Shrimp, Catfish and Popcorn Shrimp. As we delivered flavorful menu items to our customers, we dramatically improved our restaurant menu panel design to simplify ordering, strengthen combination meal messaging and to make our items more appealing. We continue to see the positive impact of these new panels in our sales and customer satisfaction metrics. Lastly, our operations team continued to drive operations improvement during the year which, we believe, increased visit frequency, improved speed of service and increased our sales capacity at peak periods."