Triarc Companies, Inc.
                                 280 Park Avenue
                               New York, NY 10017


                                                           For Immediate Release

CONTACT:  Anne A. Tarbell
          (212) 451-3030
          www.triarc.com


                TRIARC ELECTS EDWARD P. GARDEN VICE CHAIRMAN AND
                               DIRECTOR OF TRIARC


     New York,  NY,  December 16, 2004 -- Triarc  Companies,  Inc.  (NYSE:  TRY,
TRY.B) announced today that its Board of Directors elected Edward P. Garden Vice
Chairman  and a director  of the  Company.  He will  continue  to lead  Triarc's
corporate development team.

     Mr. Garden, 43, was appointed  Executive Vice President of Triarc in August
2003. Prior thereto,  Mr. Garden was a managing  director of Credit Suisse First
Boston ("CSFB") where he served as a senior  investment  banker in the Financial
Sponsor Group since 1999. At CSFB, he was  responsible  for  relationships  with
several  large  private  equity  firms with  primary  focus on  origination  and
execution  of  bank,   bond  and  equity   financings  as  well  as  merger  and
acquisitions-related  advisory  services.  From 1994 to 1999,  Mr.  Garden was a
managing director at BT Alex Brown where he was a senior member of the Financial
Sponsor Group and, prior to that, Co-Head of Equity Capital Markets.  Mr. Garden
holds an A.B. in Economics from Harvard College. Mr. Garden is the son-in-law of
Nelson Peltz, the Chairman and Chief Executive Officer of Triarc.

     Commenting  on Mr.  Garden's  election,  Mr. Peltz and Peter May,  Triarc's
President and Chief  Operating  Officer,  said jointly:  "Since  joining  Triarc
approximately  eighteen months ago, Ed has done a truly outstanding job with our
corporate development efforts. He has also assumed increasingly  important roles
in the strategic  development of our  businesses.  We are delighted to recognize
Ed's many critical roles in creating shareholder value at Triarc by electing him
Vice Chairman and a member of Triarc's Board of Directors."

     Triarc is a holding company and through its subsidiaries, the franchisor of
the  Arby's(R)   restaurant   system  and  the  operator  of  approximately  235
restaurants  located in the United States.  Triarc also owns an approximate  64%
capital interest in Deerfield & Company LLC, a Chicago-based  alternative  asset
manager,  offering a diverse range of fixed income  strategies to  institutional
investors.
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