AFC Enterprises Announces Initial Public Offering

AFC Enterprises, Inc. announced today its initial public offering of up to 9,375,000 shares of its common stock at a purchase price between $15.00 and $17.00 per share. The Company is selling 3,125,000 shares, and 6,250,000 of the shares are being sold by certain selling shareholders, in an underwriting led by Goldman, Sachs & Co., Credit Suisse First Boston and Deutsche Banc Alex. Brown.

AFC Enterprises operates, develops and Franchises quick service restaurants, bakeries and cafes primarily under the trade names Popeyes Chicken & Biscuits, Church's Chicken, Cinnabon, Seattle's Best Coffee and Torrefazione Italia. As of December 31, 2000, we operated and franchised 3,618 restaurants, bakeries and cafes in 46 states, the District of Columbia and 27 foreign countries. We also sell our premium specialty coffees through wholesale and retail distribution channels under our Seattle Coffee brands. Our system-wide sales in 2000 totaled approximately $2.4 billion.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.