Exhibit 99.1



                             Triarc Companies, Inc.
                                                                 280 Park Avenue
                                                              New York, NY 10017
                                                              Tel   212-451-3000



                                                           For Immediate Release
CONTACT:  Anne A. Tarbell
          (212) 451-3030
          www.triarc.com


             TRIARC CONFIRMS NEGOTIATIONS WITH RTM RESTAURANT GROUP
                    CONCERNING COMBINATION OF ARBY'S AND RTM


     New York, NY, January 19, 2005 - Triarc Companies,  Inc. (NYSE: TRY; TRY.B)
confirmed today that it is engaged in negotiations to combine Triarc's Arby's(R)
restaurant  business,  including its  wholly-owned  subsidiaries,  Arby's,  LLC,
Arby's  Franchise  Trust, the franchisor of the Arby's  restaurant  system,  and
Sybra,  Inc., the operator of approximately 235 Arby's restaurants in the United
States, with RTM Restaurant Group, Arby's largest franchisee, with approximately
774 Arby's restaurants in the United States. If consummated, it is expected that
Triarc  would  be  the  majority  owner  of  the  combined  entity.  It is  also
anticipated  that the combined  entity would file a registration  statement with
the Securities and Exchange  Commission  ("SEC") for the initial public offering
of its common  stock,  a portion of the proceeds of which would be used to pay a
portion of the consideration payable to the owners of RTM in the combination.

     Triarc does not anticipate making any further  announcement  concerning the
possible business  combination or the initial public offering until a definitive
agreement is reached or negotiations  are terminated.  There can be no assurance
that RTM,  its owners or Triarc will enter into  definitive  agreements  or that
such a business  combination  or initial  public  offering will be completed.  A
registration  statement  related to the securities  issued in the initial public
offering will be filed with the SEC.  This press release does not  constitute an
offer of any  securities  for sale and no sale can occur prior to the  effective
time of such registration statement.

     Triarc is a holding company and through its subsidiaries, the franchisor of
the Arby's(R)  restaurant  system and the operator of  approximately  235 Arby's
restaurants  located in the United States.  Triarc also owns an approximate  64%
capital interest in Deerfield & Company LLC, a Chicago-based  alternative  asset
manager,  offering a diverse range of fixed income  strategies to  institutional
investors.
                                      # # #

                                 Notes to Follow






                             Notes To Press Release

1.   The  combined  entity  will  file a proxy  statement/prospectus  and  other
     relevant  documents  concerning  the  proposed  transaction  with  the SEC.
     SHAREHOLDERS OF RTM RESTAURANT  GROUP,  INC.  ("RTM") ARE URGED TO READ THE
     PROXY STATEMENT/PROSPECTUS WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT
     DOCUMENTS   FILED  WITH  THE  SEC  BECAUSE  THEY  WILL  CONTAIN   IMPORTANT
     INFORMATION ON THE PROPOSED TRANSACTION.

2.   Shareholders  of RTM will be able to obtain the document  free of charge at
     the SEC's  website  (www.sec.gov),  or at the SEC's public  reference  room
     located at 450 Fifth Street, NW, Washington,  DC 20549. Please call the SEC
     at 1-800-SEC-0330 for further  information about the public reference room.
     In addition,  documents  filed with the SEC by the  combined  entity may be
     obtained  free of  charge  by  contacting  Triarc  Companies,  Inc.,  Attn:
     Investor Relations (tel: 212-451-3000). SHAREHOLDERS OF RTM SHOULD READ THE
     PROXY  STATEMENT/PROSPECTUS  CAREFULLY  WHEN IT  BECOMES  AVAILABLE  BEFORE
     MAKING ANY VOTING OR INVESTMENT DECISION.