Burger King Corporation Announces Plans for New Global Headquarters in Coral Gables

(Thursday, May 12, 2005) - Burger King Corporation (BKC) today announced plans for a new corporate headquarters in Coral Gables, Fla., that will serve as home to its global marketing, product development, operations, finance, information technology and other departments. Annual system-wide sales for the global company are $12 billion.

Scheduled for completion by fall 2008, the approximately 250,000-square-foot facility, to be at 2701 S. LeJeune Road in Coral Gables, will house all BKC employees, who are currently in two separate locations in Miami-Dade County. BKC will lease the building for a term of 15 years, with the option to renew for up to 15 years.

“We are delighted to have found a long-term solution that will allow us to bring all our Miami-area employees together under one roof,” said Greg Brenneman, chairman and chief executive officer of Burger King Corporation. “We are deeply grateful to the state of Florida, Mayor Carlos Alvarez, the Miami-Dade County Commission and The Beacon Council for their tremendous support in helping us make this possible.”

The building will be developed and owned by Codina Group in joint venture with JPMorgan Asset Management’s SSPF Fund. The company’s new headquarters will feature amenities to include a product test kitchen, employee cafeteria and dining room and a parking garage.

Burger King considered several locations, including some outside the state, Brenneman said.

“Miami has been the home of the BURGER KING® brand since its inception, and we are glad we are able to continue the tradition,” he said.

Founded in 1954 by James McLamore and David Edgerton, the company has been headquartered in Miami for more than 50 years. The first BURGER KING restaurant, located at 3601 N.W. 27th Ave. in Miami, was opened in March 1954 and is still in operation today.

About Burger King Corporation

The BURGER KING® system operates more than 11,000 restaurants in 65 countries and territories worldwide. Approximately 90 percent of BURGER KING restaurants are owned and operated by independent franchisees, many of them family-owned operations that have been in business for decades.

Burger King Holdings Inc., the parent company, is private and independently owned by an equity sponsor group comprised of Texas Pacific Group, Bain Capital and Goldman Sachs Capital Partners. Burger King Corporation has system-wide sales of approximately $12 billion. To learn more about BURGER KING, please visit the company's Web site at http://www.burgerking.com

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