The Pepsi Bottling Group Chairman to Reconfirm Earnings Estimates At Prudential Securities Conference

Business Wire, Sept 5, 2001

Business Editors

SOMERS, N.Y.--(BUSINESS WIRE)--Sept. 5, 2001

Craig E. Weatherup, Chairman and Chief Executive Officer of The Pepsi Bottling Group, Inc. (NYSE: PBG) will address financial analysts and investors today at the Prudential Securities' Tenth Annual "Back-To-School" Consumer Conference.

Mr. Weatherup is expected to discuss domestic volume growth and revenue trends, along with a detailed discussion on the Company's successful turnaround of operations in Spain, Russia and Canada.

Additionally, Mr. Weatherup will reconfirm the Company's prior guidance of three percent volume and three percent net revenue per case growth on a worldwide basis and earnings per share (EPS) of $0.93 to $0.95 for the third quarter. International volume growth in the third quarter remains strong and, in the U.S., volume growth is expected to be up one to two percent. (Including the negative impact of more than one and one-half points from the 53rd week in 2000, U.S. constant territory volume will be flat to down slightly.) The full year forecast of volume growth in the U.S. remains two to three percent, with the offsetting impact of the calendar timing spread throughout the year. For the quarter and full year 2001, our PepsiCo brand volume performance will remain very strong.

Mr. Weatherup will also reiterate confidence in the Company's ability to achieve constant territory earnings before interest, taxes, depreciation and amortization (EBITDA) growth of 11 to 12 percent and EPS of $1.84 to $1.88 for the year.

A live webcast of this presentation can be accessed today at 11:15 a.m. (EDT) at http://www.pbg.com.

The Pepsi Bottling Group, Inc. (www.pbg.com) is the world's largest seller, manufacturer and distributor of Pepsi-Cola beverages, with operations in the U.S., Canada, Greece, Russia and Spain.

Statements made in this press release that relate to future performance or financial results of the Company are forward-looking statements which involve uncertainties that could cause actual performance or results to materially differ. PBG undertakes no obligation to update any of these statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. Accordingly, any forward-looking statement should be read in conjunction with the additional information about risks and uncertainties set forth in PBG's Securities and Exchange Commission reports, including its annual report on Form 10-K for the year ended December 30, 2000.