Trian Issues Statement on Cadbury Schweppes Plan to Separate Its Confectionery and Beverage Businesses

Business Wire, March 15, 2007

NEW YORK -- Trian Fund Management, L.P. issued the following statement in response to the announcement today by Cadbury Schweppes plc (LSE: CBRY) (NYSE: CSG) that it plans to separate its confectionery and beverage businesses:

"Trian congratulates the management team and Board of Cadbury Schweppes for their shareholder-focused approach. Under Todd Stitzer's leadership, the company has successfully built two strong businesses with the size and scale to thrive independently. Upon completion of a separation, we believe that both businesses will be better positioned to take full advantage of their world-class brands for the benefit of shareholders."

About Trian Fund Management, L.P.

Trian, based in New York, is an investment management firm founded by Nelson Peltz, Peter W. May and Edward P. Garden. Trian seeks to invest in undervalued public companies and prefers to work closely with the management of those companies to effect positive change through active, hands-on influence and involvement, which it refers to as "operational activism." Trian's goal is to enhance shareholder value through a combination of strategic re-direction, improved operational execution, more efficient capital allocation and stronger management focus. Trian's principals and investment team have extensive experience in reviving consumer brands.