Dine Equity opens first IHOP restaurant in Saudi Arabia, its fifth IHOP in MIddle East; franchise agreement with M.H. Alshaya allows for development of 40 IHOP restaurants across Middle East, North Africa

Cindy Allen

GLENDALE, California , December 30, 2013 (Business Wire) – New Restaurant in Jeddah Part of a Multi-Restaurant Franchise Agreement with M.H. Alshaya Co. Which Operates IHOP Locations in Kuwait and the United Arab Emirates

DineEquity, Inc. (NYSE: DIN), parent company of Applebee's Neighborhood Grill & Bar® and IHOP® Restaurants, today announced that they have opened the first IHOP restaurant in Saudi Arabia. The restaurant, located in “Le Mall,” is part of a seven-brand restaurant destination in Jeddah, which opened December 14.

The opening represents the fifth restaurant for the iconic IHOP brand in the region since 2012 under its multi-franchise agreement with M.H. Alshaya Co. (“Alshaya”), a leading international franchise operator, which has opened IHOP locations in Kuwait and the United Arab Emirates. The agreement between Alshaya and IHOP Franchise Company, LLC, allows for the development of 40 restaurants across the Middle East and North Africa region, with plans to expand to markets including Lebanon, Qatar, Oman, Bahrain and Egypt.

The new restaurant features IHOP restaurant’s world famous menu of pancakes, waffles, omelettes and breakfast favorites, as well as a full complement of delicious lunch and dinner items and will be open Saturday through Wednesday from 6:30 a.m. until 1 a.m. and on Thursday and Friday from 6:30 a.m. until 2 a.m.

“We are delighted to add Saudi Arabia to the expanding list of countries where guests can enjoy the great food and service that are the hallmarks of IHOP restaurants everywhere,” said Julia Stewart, Chairman and CEO, DineEquity Inc., and Interim President, International House of Pancakes, LLC. “Our restaurants in this region have already proven that there is a great demand for our menu in this market, thanks to the tremendous job Alshaya has done in bringing their unparalleled expertise and high standards of excellence to our restaurants there. We look forward to working together to open additional locations throughout the region.”

Mohammed Alshaya, Executive Chairman, M.H. Alshaya Co., commented: “We have already had good success with our IHOP restaurant locations and the brand’s debut in KSA supports our objective of introducing internationally-recognized brands to new customers in new markets across the Middle East. We have every confidence that we will find the same level of excitement and demand from our guests in KSA that we have experienced in other markets in the region.”

“Our ultimate goal in expanding IHOP restaurants throughout the world has always been to ensure they provide the high level of excellence that has built our brand into a truly international one,” said Daniel del Olmo, president, international, DineEquity, Inc. “Alshaya has done a tremendous job in establishing our presence in this key region, continuing to expand our locations while making sure every restaurant is providing our guests with a great IHOP experience.”

IHOP restaurants feature high-quality food and beverage items served in a friendly, warm and comfortable ambience. This popular restaurant, which is designed for individual and family dining, delivers a uniquely iconic American-style dining experience. The sumptuous menu that includes an extensive array of items ranges from signature pancakes to a wide variety of omelettes, French toast and waffles, crepes, sandwiches and burgers, appetizers, soups, salads and desserts.

ABOUT DINEEQUITY, INC.

Based in Glendale, California, DineEquity, Inc., through its subsidiaries, franchises and operates restaurants under the Applebee’s Neighborhood Grill & Bar® and IHOP® brands. With more than 3,600 restaurants combined in 19 countries, over 400 franchisees and approximately 200,000 team members (including franchisee and company-operated restaurant employees), DineEquity is one of the largest full-service restaurant companies in the world. For more information on DineEquity, visit the Company's Web site located at www.dineequity.com.

ABOUT INTERNATIONAL HOUSE OF PANCAKES, LLC

For over 55 years, International House of Pancakes, LLC has been a leader and expert in all things breakfast and a leader in family dining. The chain is highly competitive in its menu offering, serving 65 different signature, made-to-order breakfast options as well as a range of meals under 600 calories. Beyond offering “everything you love about breakfast,®” IHOP® restaurants have a wide selection of popular lunch and dinner items, as well. IHOP restaurants offer guests an affordable, everyday dining experience with warm and friendly service. As of September 2013, there were 1,602 IHOP restaurants in 50 states and the District of Columbia, as well as in Canada, Guatemala, Mexico, Puerto Rico, the United Arab Emirates, Kuwait, the Philippines and the U.S. Virgin Islands. Under the licensed name IHOP at HOME® consumers can also enjoy a line of premium breakfast products available at leading retailers. IHOP restaurants are franchised and operated by Glendale, Calif.-based International House of Pancakes, LLC and its affiliates. International House of Pancakes, LLC is a wholly-owned subsidiary of DineEquity, Inc. (NYSE: DIN). For more information or to find an IHOP restaurant near you, please visit www.IHOP.com. Follow IHOP on Facebook and Twitter.

ABOUT M.H. ALSHAYA CO.

M.H. Alshaya Co. is a leading international franchise operator for over 70 of the world’s most recognized retail brands, including Starbucks, H&M, Mothercare, Debenhams, American Eagle Outfitters, Pottery Barn, P.F. Chang’s and Boots. The company operates over 2,500 stores across 8 divisions: Fashion & Footwear, Health & Beauty, Food Service, Optics, Pharmacy, Office Supplies, Home Furnishings and Leisure & Entertainment. Alshaya’s stores can currently be found in 19 markets across the Middle East and North Africa, Russia, Turkey and Europe and the company employs more than 36,000 people from over 110 nationalities. Alshaya has established itself as the industry leader across these territories through a combination of local market understanding and a comprehensive commitment to customer service. Growth in each of its operating divisions and brands is supported by continuous investment in talent and infrastructure. It applies best practices in retail operations, merchandising, marketing, information technology, logistics, real estate, human resources and financial controls. M.H. Alshaya Co. is the retail business of the Alshaya group of companies, which was founded in Kuwait in 1890 and today represents one of the most dynamic businesses in the Middle East. In addition to its retail operations, Alshaya is active in a number of other sectors including real estate, automotive, hotels, trading and investments. Learn more about the company at www.alshaya.com.

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