Bronx - 2 September, 2003 -

Golden Krust Caribbean Bakery and Grill, the largest Caribbean quick service restaurant chain in the United States, has entered into a 7 year agreement with Pepsi USA under which the soft drink giant will install soda fountains in all Golden Krust outlets. In return, Golden Krust will receive some one point two million dollars in incentives from Pepsi under the contract. President and CEO of Golden Krust, Mr. Lowell Hawthorne, and Ms. Karen S. Mitchal Vice President, New Business for Pepsi USA, signed the contract last Tuesday evening. The agreement is effective from Sept. 1, 2003. The agreement signals Pepsi's acceptance of Golden Krust as being a national chain. Under the contract, Pepsi will assist Golden Krust with redesigning the menu boards in all the stores as well as provide rebates on the volume of soda fountain drinks sold. Pepsi will also assist Golden Krust with its marketing program as well as demographics on new store locations. Mr. Hawthorne hailed the agreement as one of significance noting that Pepsi will be a partner as Golden Krust expands its operations throughout the United States and beyond. "I am extremely gratified to be entering into this agreement with Pepsi as it signals their belief in our concept and what we are trying to achieve. I believe that with this agreement Golden Krust and Pepsi will be able to work together for the branding of both our companies in our communities," he said. Ms. Mitchal also hailed the agreement. "We at Pepsi are looking forward to working with Golden Krust to achieve our mutual goals and I am happy that we have been able to enter into an agreement that will benefit both companies," she said. The contract is loaded with performance incentives. Pepsi, under the terms of the contract, will be the "exclusive approved beverage supplier" of fountain soda and other Pepsi products in all Golden Krust outlets. Pepsi will also be granted "exclusive" rights as the sole beverage sponsor of all events put on by Golden Krust. Mr. Hawthorne noted that the agreement with Pepsi signals another step in the continuing development of Golden Krust.

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