Triarc Companies, Inc.
                                                       280 Park Avenue
                                                       New York, NY 10017

                                                           For Immediate Release

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

             TRIARC  PROVIDES  UPDATE ON SALE OF CONTROLLING
                     INTEREST IN DEERFIELD & COMPANY LLC

New York,  NY, August 16, 2007 - Triarc  Companies,  Inc.  (NYSE:  TRY, TRY.B or
"Triarc")  announced today that it has been informed by the Special Committee of
the Board of Directors of Deerfield  Triarc Capital Corp.  (NYSE:  DFR or "DFR")
that DFR has not yet been able to complete  on  acceptable  terms the  financing
necessary for DFR to consummate the previously  announced  acquisition by DFR of
Deerfield & Company LLC  ("Deerfield"),  due to the current  instability  in the
credit markets. Deerfield is a Chicago-based fixed income asset manager in which
Triarc  holds  a  controlling  interest.  DFR  has  advised  Triarc  that  it is
continuing to work with its lenders to obtain appropriate  financing.  Under the
definitive acquisition  agreement,  DFR's obligation to complete the acquisition
is  subject  to the  receipt  by DFR of  financing  for the cash  portion of the
purchase  price  and  related  transaction  costs.  On  August  9,  2007,  DFR's
shareholders  approved the issuance in the  acquisition  of  approximately  9.6
million DFR  shares.  Under the  definitive  agreement  the  parties  have until
October  19,  2007 to  complete  the  transaction,  unless  extended  by  mutual
agreement.

Triarc is a holding company and, through its subsidiaries,  is the franchisor of
the Arby's  restaurant  system and the owner of approximately  94% of the voting
interests,  64%  of  the  capital  interests  and at  least  52% of the  profits
interests in Deerfield & Company LLC (Deerfield),  an asset management firm. The
Arby's restaurant  system is comprised of approximately  3,600  restaurants,  of
which,  as of July 1, 2007,  1,081 were owned and operated by our  subsidiaries.
Deerfield, through its wholly-owned subsidiary Deerfield Capital Management LLC,
is a  Chicago-based  asset manager  offering a diverse range of fixed income and
credit-related  strategies to institutional  investors with approximately  $14.8
billion under management as of August 1, 2007.
                                  # # #

                             Notes To Follow





                             NOTES TO PRESS RELEASE

1.   There can be no assurance that DFR will receive the necessary  financing to
     complete the  transaction  or that the sale of Deerfield will be completed,
     nor can there be any assurance that if the sale is completed that Deerfield
     will be successfully integrated with DFR's existing operations. The sale of
     Deerfield is subject to customary closing conditions, including the receipt
     by DFR of financing for the cash portion of the purchase  price and related
     transaction   costs.  Upon  the  closing  of  the  transaction,   DFR  will
     discontinue the use of "Triarc" in its name.

2.   The statements in this press release concerning  Triarc,  Deerfield and DFR
     that are not historical facts,  including,  most  importantly,  information
     concerning  possible or assumed  future  results of  operations  of Triarc,
     Deerfield and DFR and statements  preceded by, followed by, or that include
     the words  "may,"  "believes,"  "plans,"  "expects,"  "anticipates"  or the
     negation  thereof,  or  similar  expressions,  constitute  "forward-looking
     statements" within the meaning of the Private Securities  Litigation Reform
     Act of 1995 (the "Reform  Act").  All  statements  that  address  events or
     developments  that are expected or  anticipated  to occur in the future are
     forward-looking  statements  within  the  meaning of the  Reform  Act.  The
     forward-looking  statements  relating  to the  consummation  of the sale of
     Deerfield  and the receipt of financing  by DFR are based on DFR's  current
     expectations,  speak  only as of the  date of this  press  release  and are
     susceptible  to  a  number  of  risks,  uncertainties  and  other  factors,
     including the state of the credit and other markets.  For those statements,
     we claim the protection of the safe harbor for  forward-looking  statements
     contained  in the Reform Act. All future  written and oral  forward-looking
     statements  attributable  to us or any  person  acting  on our  behalf  are
     expressly  qualified  in  their  entirety  by  the  cautionary   statements
     contained or referred to in this section. New risks and uncertainties arise
     from time to time,  and it is impossible  for us to predict these events or
     how  they  may   affect  us.  We  assume  no   obligation   to  update  any
     forward-looking statements after the date of this press release as a result
     of new information,  future events or  developments,  except as required by
     federal securities laws.