SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 17150 / September 25, 2001

SEC v. Devin A. Danehy, (U.S.D.C. W.D. Kentucky, Civil Action No. 3 01CV555,
filed September 21, 2001)

   The Securities and Exchange Commission ("Commission") announced that
   on September 25, 2001, the Honorable John G. Heyburn II, U.S. District
   Judge for the Western District of Kentucky, entered a Final Judgment
   and Order of Permanent Injunction and Other Relief ("Order") in an
   insider trading case against Devin A. Danehy ("Danehy"), a former
   resident of Louisville, Kentucky at the time of the conduct and a
   current resident of Orlando, Florida.

   The Commission's Complaint alleges the following. From July 22, 1998
   through October 9, 1998, Danehy engaged in insider trading in the
   securities of Tricon Global Restaurants, Inc. ("Tricon"), a company
   headquartered in Louisville, Kentucky, and comprised of four operating
   companies KFC, Pizza Hut, Taco Bell and Tricon International. Danehy
   was a manager in the Business Analysis Group at Tricon. In this
   capacity, Danehy participated in the preparation of confidential
   internal Tricon documents reporting Tricon's financial results and
   forecasts of its financial results for the third and fourth quarter of
   1998. These documents were prepared for Tricon's senior management and
   board of directors. Danehy knew that Tricon's earnings announcements
   would be based on the information contained in these internal reports.
   Danehy purchased 210 Tricon call options on July 22, August 17 and 18,
   and October 8 and 9, while in possession of this information.

   The Commission also alleges the following. After Tricon made
   significant, positive public announcements about its financial results
   on August 19, 1998, and October 15, 1998, its stock price rose. The
   August 19 press release stated that Tricon expected "operating profit
   to be up 30 percent, operating EPS to be up over 70 percent while
   (fully diluted) EPS, which includes facility action net gains, should
   be up over 50 percent." The October 15 announcement stated that
   Tricon's earnings for the third quarter were, in fact, "up 60 percent
   to $128 million, or $0.82 per diluted share - beating expectations."
   Danehy sold his options after these earnings announcements were made,
   and gained a profit of $110,301.

   The Commission further alleges that Danehy was subject to Tricon's
   insider trading policies. The insider trading policies prohibited
   Danehy from purchasing Tricon securities while in possession of
   material, non-public information, and also banned the purchase of
   Tricon options.