Accountants' Acknowledgment
                                                                 EXHIBIT 15

The Board of Directors
PepsiCo, Inc.

We hereby acknowledge our awareness of the use of our report dated October
17, 1995 included within the Quarterly Report on Form 10-Q of PepsiCo, Inc.
for the twelve and thirty-six weeks ended September 9, 1995, and
incorporated by reference in the Registration Statements on Form S-8 (No.
33-35602, No. 33-29037, No. 33-42058, No. 33-51496, No. 33-54731 and No. 33-
66150, pertaining to the PepsiCo SharePower Stock Option Plan; No. 33-
43189, pertaining to the PepsiCo SharePower Stock Option Plan for Opco
Employees; No. 33-22970, pertaining to the 1988 Director Stock Plan; No. 33-
19539, pertaining to the 1979 Incentive Plan and the 1987 Incentive Plan;
No. 33-54733, pertaining to the 1994 Long-Term Incentive Plan; No. 33-
61731, pertaining to the 1995 Stock Option Incentive Plan; No. 2-65410,
pertaining to the 1979 Incentive Plan; No. 33-60965, No. 2-82645 and No. 33-
51514, pertaining to the PepsiCo, Inc. Long Term Savings Program; No. 2-
93163, No. 2-99532 and No. 33-10488, pertaining to the Long Term Savings
Programs of Taco Bell Corp., Pizza Hut, Inc. and Kentucky Fried Chicken
Corporation, respectively) and the Registration Statements on Form S-3 (No.
33-37271, pertaining to the Pizza Hut Cincinnati, Inc. and Tri-L Pizza
Huts, Inc. acquisitions; No. 33-35601, No. 33-42122, No. 33-56666 and No.
33-66146, pertaining to the PepsiCo SharePower Stock Option Plan for
Employees of Monsieur Henri Wines, Ltd.; No. 33-30658 and No. 33-38014,
pertaining to the PepsiCo SharePower Stock Option Plan for Opco Employees;
No. 33-42121, pertaining to the PepsiCo SharePower Stock Option Plan for
PCDC Employees; No. 33-66144 pertaining to the PepsiCo SharePower Stock
Option Plan for Employees of Chevys, Inc.; No. 33-66148 pertaining to the
PepsiCo SharePower Stock Option Plan for Employees of Southern Tier Pizza
Hut, Inc. and STPH Delco, Inc.; No. 33-30372, pertaining to the Pepsi-Cola
Bottling Company Annapolis acquisition; No. 33-8677, pertaining to the
$500,000,000 Euro-Medium-Term Notes; No. 33-39283, pertaining to the
$2,500,000,000 Debt Securities and Warrants; No. 33-47527, pertaining to
the Semoran Management Corporation acquisition; No. 33-53232, pertaining to
the $32,500,000 Puerto Rico Industrial, Medical and Environmental Pollution
Control Facilities Financing Authority Adjustable Rate Industrial Revenue
Bonds; No. 33-57181, pertaining to the $3,322,000 Debt Securities and
Warrants; No. 33-51389, pertaining to the $2,500,000,000 Debt Securities
and Warrants; No. 33-50685, pertaining to the extension of the PepsiCo
SharePower Stock Option Plan to Employees of Snack Ventures Europe, a joint
venture between PepsiCo Foods International and General Mills, Inc.) and
the Registration Statements on Form S-4 (No. 33-31844, pertaining to the
Erin Investment Corp. acquisition; No. 33-4635, pertaining to the A&M Food
Services, Inc. acquisition; No. 33-21607, pertaining to the Pizza Hut
Titusville, Inc. acquisition; No. 33-37978, pertaining to the domestic
Kentucky Fried Chicken operations of Collins Foods International, Inc.
acquisition; No. 33-47314, pertaining to the Pizza Management, Inc.
acquisition) and in the related Prospectuses.

Pursuant to Rule 436(c) of the Securities Act of 1933, such report is not
considered a part of a registration statement prepared or certified by an
accountant or a report prepared or certified by an accountant within the
meaning of Sections 7 and 11 of the Act.


                                                  KPMG Peat Marwick LLP
New York, New York
October 23, 1995

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