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Wendy's signs 2 development agreements in Mexico

March 31, 2008

DUBLIN, Ohio — Wendy's International Inc. recently announced it has signed development agreements to open Wendy's restaurants in two major Mexico cities: Monterrey and Mexico City.

Under these agreements, two new franchisees will build and operate more than 60 restaurants over the next seven years. The first of these restaurants is expected to open before year's end.

Wendy's existing franchisee, Wenco-Mexico S.A., operates 12 restaurants in the northern Mexico cities of Ciudad Juarez and Chihuahua.

The new Mexico City franchise is an affiliate of Corpogas S.C., and the new Monterrey franchise is Grupo Refran.

Corpogas, based in Mexico City, is headed by Ricardo A. Vega Serrador, whose family has been in the restaurant business since 1959. Under his leadership, the company has grown from a single restaurant to a conglomerate that includes a chain of fine-dining restaurants under the Grupo Castellano brand. Corpogas is one of the largest gasoline and convenience store retailers in Mexico, with more than 100 locations. It is the exclusive representatives and distributors for Ferrari and Maserati in Mexico. In addition, Corpogas operates a commissary and foodservice distribution facility.

Grupo Refran, of Monterrey, has operated Sirloin Stockade restaurants for more than 15 years and currently has 12 locations in Mexico. Grupo Refran was part of the group that brought Applebee's restaurants to Mexico. Grupo Refran's CEO, Jorge Emilio Garza Trevino, is a businessman in Monterrey, serving on various corporate boards and philanthropic institutions. He is a district governor of Rotary International in Mexico. Grupo Refran owns and operates commercial properties, retail stores, an automobile dealership and a convention venue and commissary.

Wendy's has more than 190 restaurants in the Latin America/Caribbean region in 14 markets. Wendy's international division also operates in the Asia/Pacific region, where its most recent new international market, Malaysia, was announced late last year.