DineEquity, Inc. Exceeds 2008 Refranchising Goal With the Sale of 66 Additional Company-Operated Applebee's Restaurants

Transactions Contain No Financing Contingencies; Transfers Ownership of Underperforming Restaurants to Experienced Franchise Operators

DineEquity, Inc. (NYSE:DIN), franchisor and operator of Applebee's Neighborhood Grill & Bar and IHOP Restaurants, today announced that it has entered into asset purchase agreements for the sale of 66 company-operated Applebee's restaurants located in Houston and Dallas, Texas and Albuquerque, New Mexico. The agreements for the sale of these restaurants do not contain financing contingencies, but are subject to regulatory processes related to liquor license transfers and other customary closing conditions.