Applebee’s Announces New Finance Program for Franchisees

OVERLAND PARK, KAN., September 3, 2003 — Applebee’s International, Inc. has announced a new program that will allow its franchisees to finance investments in several company developed initiatives with two financial institutions.

The new Sales/Technology Initiatives Financing program is available to Applebee’s 50 domestic franchisees. The estimated cost of the initiatives for franchisees is approximately $50 million. US Bank Leasing and TCF Express Leasing, the participating financial institutions, will be the program lenders. Franchisees will have a choice between tax and capital lease structures.

“Technology is a key driver of improving guest satisfaction and maximizing the efficient operation of our restaurants,” said Steve Lumpkin, Applebee’s Chief Financial Officer. “We are pleased to provide this financing tool that has the potential to accelerate the implementation of important technology upgrades in our restaurants.”

“One of our key initiatives for the second half of 2003 and 2004 is the rollout of our Carside To Go TM program. This service gives our guests the option of ordering Applebee’s food over the phone and paying for and picking up their food without ever leaving their cars. This finance program also can help our franchisees pay for restaurant infrastructure and technical modifications that allow them to offer our Carside service. Carside is an important component of our future sales growth.”

In addition to Carside, initiatives that can be financed through the program include Kitchen Display Systems - computer systems that support synchronization of kitchen orders - and point of sale hardware and software. All costs included in these projects can be financed under the program.

Capital Growth Advisors, LLC, assisted Applebee’s in designing this competitive financing program. Steve Vergamini, Senior Vice President of Capital Growth Advisors, said, “We were extremely pleased with the terms and conditions of the financing package. We were able to deliver unprecedented low rates for franchisees while at the same time achieving a very user friendly process. Additionally, this financing program covers the entire franchisees’ needs for the Sales/Technology Initiatives.”

Reid Sherard, President of CapGrow, said “We were delighted to work with Applebee’s in creating a state of the art financing program for their franchisees. We were particularly pleased that the two financial institutions were new lenders to the Applebee’s franchisees.”

Applebee’s International, Inc., headquartered in Overland Park, Kan., develops, franchises and operates restaurants under the Applebee’s Neighborhood Grill & Bar brand, the largest casual dining concept in the world. There are currently more than 1,500 Applebee’s restaurants operating system-wide in 49 states and nine international countries. Additional information on Applebee’s International can be found at www.applebees.com.

Capital Growth Advisors, LLC, headquartered in Minneapolis, MN, is the leading provider of fee based financial consulting services to the multi unit retail industry. Additional information on Capital Growth Advisors, LLC, may be found at www.capgrow.net.