Burger King Acquires 30 Restaurants from Florida Franchisee

Burger King Corporation announced that it has acquired a total of 30 restaurants in Florida from the Nath Franchise Group. All staff and management in the 19 restaurants in the Orlando/Daytona Beach area and 11 in Greater Miami were offered positions with Burger King Corporation. The purchase, which includes substantial real estate, represents one of the largest acquisitions in the Company's history. Terms of the transaction were not disclosed. The Nath franchise groups remain one of the largest franchisees in the Burger King system with 102 restaurants.

"We continue to make strategic investments in the brand and are pleased with the opportunity to increase our company Restaurant base," said John Dasburg, president, chief executive officer and chairman of Burger King Corporation. "The acquisition is consistent with the long-term development plans of Burger King Corporation."

As a result of the deal, Burger King Corporation now owns 569 restaurants, of which 201 restaurants are in the state of Florida with 8 in Daytona Beach and 37 in Miami. Franchisees own another 391 restaurants in the state. Burger King Corporation is expected to invest capital in these newly acquired restaurants behind all key initiatives, including remodeling the facilities in the new image design, as well as kitchen and drive-thru enhancements.

Burger King Corporation created the American icon, the HOME OF THE WHOPPER®, in 1957. The company and its franchisees operate more than 11,370 restaurants in all 50 states and 58 countries and international territories around the world, with more than 92% o BURGER KING® restaurants owned and operated by independent franchisees. Since the company's founding in Miami in 1954, the BURGER KING® brand has become recognized for great flame-broiled taste and HAVE IT YOUR WAY® food customization. In fiscal year 2001, the BURGER KING® system had system-wide sales of $11.2 billion. Burger King Corporation is a part of Diageo (NYSE: DEO), the international food and drinks company.