EXHIBIT 15
Accountants' Acknowledgment
The Board of Directors
PepsiCo, Inc.
We hereby acknowledge our awareness of the use of our report dated October
15, 1996 included within the Quarterly Report on Form 10-Q of PepsiCo, Inc.
for the twelve and thirty-six weeks ended September 7, 1996, and
incorporated by reference in the following Registration Statements and in
the related Prospectuses:
Registration
Description Statement Number
Form S-3
Pizza Hut Cincinnati, Inc. and Tri-L Pizza Huts,
Inc. acquisitions 33-37271
PepsiCo SharePower Stock Option Plan for Employees
of Monsieur Henri Wines, Ltd. 33-35601, 33-42122,
33-56666 & 33-66146
PepsiCo SharePower Stock Option Plan for Opco
Employees 33-30658 & 33-38014
PepsiCo SharePower Stock Option Plan for PCDC
Employees 33-42121
PepsiCo SharePower Stock Option Plan for Employees
of Chevys, Inc. 33-66144
PepsiCo SharePower Stock Option Plan for Employees of
Southern Tier Pizza Hut, Inc. and STPH Delco, Inc. 33-66148
Pepsi-Cola Bottling Company Annapolis acquisition 33-30372
$500,000,000 Euro-Medium-Term Notes 33-8677
$2,500,000,000 Debt Securities and Warrants 33-39283
Semoran Management Corporation acquisition 33-47527
$32,500,000 Puerto Rico Industrial, Medical and
Environmental Pollution Control Facilities
Financing Authority Adjustable Rate Industrial
Revenue Bonds 33-53232
$3,322,000,000 Debt Securities and Warrants 33-57181
$2,500,000,000 Debt Securities and Warrants 33-51389
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. 33-50685
$4,587,000,000 Debt Securities and Warrants 33-64243
Form S-4
Erin Investment Corp. acquisition 33-31844
A&M Food Services, Inc. acquisition 33-4635
Pizza Hut Titusville, Inc. acquisition 33-21607
U.S. Kentucky Fried Chicken operations of Collins
Foods International, Inc. acquisition 33-37978
Pizza Management, Inc. acquisition 33-47314
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Form S-8
PepsiCo SharePower Stock Option Plan 33-35602, 33-29037,
33-42058, 33-51496,
33-54731 & 33-66150
PepsiCo SharePower Stock Option Plan for Opco
Employees 33-43189
1988 Director Stock Plan 33-22970
1979 Incentive Plan and the 1987 Incentive Plan 33-19539
1994 Long-Term Incentive Plan 33-54733
1995 Stock Option Incentive Plan 33-61731
1979 Incentive Plan 2-65410
PepsiCo, Inc. Long Term Savings Program 2-82645, 33-51514 &
33-60965
Long Term Savings Programs of Taco Bell Corp.,
Pizza Hut, Inc. and Kentucky Fried
Chicken Corporation, respectively 2-93163, 2-99532 &
33-10488
Restaurant Deferred Compensation Plan 333-01377
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 22, 1996
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