Pepsi Bottling Group (PBG) Increases Dividend

The Pepsi Bottling Group, Inc. (NYSE: PBG) today announced that its Board of Directors authorized another increase in the Company’s quarterly dividend, raising it 27 percent from $0.11 to $0.14. This is the fourth consecutive year that the Board has approved a substantial increase in the dividend.

The increased quarterly dividend of $0.14 per share is payable June 29, 2007 to PBG shareholders of record on June 8, 2007.

PBG President and Chief Executive Officer Eric J. Foss stated:

PBG has an outstanding track record of returning cash to shareholders. In the last three years, we have returned $1.8 billion through share repurchases and dividends. This latest dividend increase is further evidence of management’s and the Board’s confidence in our long-term outlook.

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