DineEquity Announces Completion of Transition to a 99% Franchised Restaurant System

DineEquity

, the parent company of Applebee's Neighborhood Grill & Bar and IHOP Restaurants, today announced that it has completed the refranchising program initiated in 2008, successfully transitioning to a 99% franchised restaurant system. With the closure of the deal to refranchise 39 Applebee's company-operated restaurants in Virginia to Potomac Family Dining Group, LLC, DineEquity has completed its refranchising initiative, which has resulted in the sale of 479 restaurants since its acquisition of Applebee's International, Inc. in November 2007. “We are extremely excited to have reached this significant milestone by accomplishing what we set out to do when Applebee's was acquired,” said Julia A. Stewart, Chairman