Exhibit 99.1

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


                                                          For Immediate Release


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

                     TRIARC HOLDS 2005 ANNUAL MEETING

New York, NY, June 1, 2005 - Triarc  Companies,  Inc.  (NYSE:  TRY;  TRY.B)
announced today that at the Company's  annual meeting,  stockholders  re-elected
Triarc's  eleven (11) directors,  approved an amendment to the performance  goal
bonus awards  portion of the  company's  1999  executive  bonus plan,  which was
originally  approved  by  stockholders  in  September  1999,  and  ratified  the
appointment  of Deloitte & Touche LLP as the  Company's  independent  registered
public accountants.

     The following  eleven  directors were  re-elected:  Nelson Peltz,  Triarc's
chairman and chief executive officer; Peter W. May, Triarc's president and chief
operating officer;  Hugh L. Carey,  former governor of the State of New York and
member of Congress,  and  currently  partner of Harris Beach LLP;  Clive Chajet,
chairman  of  Chajet  Consultancy,  L.L.C.;  Edward  P.  Garden,  Triarc's  vice
chairman;  Joseph A. Levato, former executive vice president and chief financial
officer of Triarc;  Gregory H. Sachs,  chairman and chief  executive  officer of
Deerfield & Company LLC, David E. Schwab II, senior counsel of Cowan,  Liebowitz
& Latman,  P.C.;  Raymond S.  Troubh,  financial  consultant  and a director  of
various public  companies;  Gerald Tsai,  Jr., a private  investor;  and Jack L.
Wasserman, attorney-at-law.

     Triarc is a holding company and, through its  subsidiaries,  the franchisor
of the Arby's  restaurant  system and the owner and operator of 233  restaurants
located  in the United  States.  Triarc  also owns an  approximate  64%  capital
interest in Deerfield & Company LLC, a  Chicago-based  asset manager  offering a
diverse range of fixed income strategies to institutional investors.