Corporate Event: The Pepsi Bottling Group, Inc. (PBG) - Effective Monday, March 1, 2010

On February 17, 2010, Shareholders of The Pepsi Bottling Group, Inc. (PBG) voted

concerning a proposed merger with PepsiCo, Inc. (PEP). The merger was approved

and consummated. As a result, PBG Common Shares will be converted as follows:

approximately 50% of all outstanding PBG Common Shares will be converted into

0.6432 PEP Common Shares per PBG Share, subject to prorations (Stock

Consideration); Cash will be paid in lieu of fractional PEP Shares; approximately

50% of all outstanding PBG Common Shares will be converted into $36.50 Cash per

PBG Share, subject to prorations (Cash Consideration).

This action will be coordinated with the Options Clearing Corporation.

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