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 ANNOUNCES ACCELERATION OF STOCK OPTION VESTING

New York, NY, December 21, 2005 -- Triarc  Companies,  Inc. (NYSE:  TRY; TRY.B)
announced   today   that  the   Performance   Compensation   Subcommittee   (the
"Subcommittee")  of its Board of  Directors  approved the  immediate  vesting of
unvested and "underwater"  options (the "Options") to purchase  4,465,500 shares
of the Company's Class B Common Stock,  Series 1, previously granted to officers
and employees  under the Company's 2002 Equity  Participation  Plan. The closing
price of the Company's  Class B Common Stock,  Series 1 on December 20, 2005 was
$14.85  per share and the  exercise  price of each  Option is $15.09  per share.
Included  in the Options  that were  vested are  Options to  purchase  1,800,000
shares held by Nelson Peltz  (Chairman  and Chief  Executive  Officer),  900,000
shares held by Peter W. May (President  and Chief  Operating  Officer),  600,000
shares held by Edward P. Garden (Vice Chairman), 225,000 shares held by Brian L.
Schorr (Executive Vice President and General Counsel) and 215,000 shares held by
Francis T. McCarron (Executive Vice President and Chief Financial Officer).  Had
the vesting of the Options not been  accelerated,  the Options would have vested
in three equal installments on February 15, 2006, 2007 and 2008.

     In  connection  with the  accelerated  vesting,  the  Subcommittee  imposed
restrictions  on any  shares  acquired  upon  the  exercise  of the  accelerated
Options.  Those  restrictions  prevent  the sale of any stock  obtained  through
exercise of an  accelerated  Option prior to the earlier of the date the Options
would have otherwise  vested under the original terms of the Option grant or the
individual's termination of employment.

     The accelerated  vesting of the Options is intended to eliminate any future
reportable  compensation  expense  relating to the Options  upon the adoption of
Statement of Financial  Accounting  Standards  (SFAS) No.  123(R),  "Share Based
Payment," effective for our fiscal year beginning January 2, 2006.

     Triarc is a holding company and, through its  subsidiaries,  the franchisor
of the Arby's(R)  restaurant system,  which is comprised of approximately  3,500
restaurants.  Of these  restaurants,  more than 1,000 are owned and  operated by
subsidiaries of Triarc.  Triarc also owns an approximate 64% capital interest in
Deerfield & Company LLC, a Chicago-based  asset manager offering a diverse range
of fixed income and  credit-related  strategies to institutional  investors with
approximately $12.1 billion under management as of December 1, 2005.

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