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 2004 ANNUAL MEETING

New York, NY, June 9, 2004 - Triarc Companies, Inc. (NYSE: TRY; TRY.B) announced
today that at the Company's  annual meeting,  stockholders  re-elected  Triarc's
nine (9)  directors,  approved the  amendment to the  company's  certificate  of
incorporation  to increase the total number of shares of capital stock which the
company has authority to issue from three hundred million (300,000,000) to three
hundred fifty million  (350,000,000)  shares and to increase the total number of
authorized shares of class B common stock from one hundred million (100,000,000)
to one hundred fifty million (150,000,000)  shares,  re-approved 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  certified
public accountants.

         The following nine 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 a partner of Harris Beach LLP; Clive Chajet,
chairman of Chajet Consultancy, L.L.C.; Joseph A. Levato, former executive vice
president and chief financial officer of Triarc; David E. Schwab II, a 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(R) restaurant system and an operator of approximately
235 Arby's restaurants located in the United States.

                                      # # #