If we could use just one word to sum up the past year at Burger King Holdings, Inc. it would be: Growth. We opened 441 new restaurants worldwide, and also recorded the first year of substantial net unit expansion in recent history. Our development results proved we have the infrastructure, capacity and discipline to profitably grow the brand in existing and strategic new markets. Our restaurant pipeline is the strongest it has been in recent years, and we expect to have more BURGER KING® restaurants operating than ever before in the brand’s history by the end of fiscal 2008.

Our marketing in fiscal 2007 was distinguished by best-in-class marketing alliances with the NFL, NASCAR, Microsoft XBOX®, and movie promotional tie-ins with SpongeBob SquarePants™ and Spider-Man™ 3. We also continued to differentiate ourselves with edgy and memorable advertising campaigns. On the product side, we introduced the first national fast food hamburger restaurant (FFHR) breakfast value menu in the U.S., and our strategic mix of premium and value menu offerings drove profitable sales. Operations excellence also continued as a global priority. We successfully rolled out standardized operations platforms across the system and we significantly improved our operations metrics in the U.S.

Momentum across all of our business drivers – development, marketing, products and operations – enabled us to meet or exceed our annual financial targets for fiscal 2007, making for a record year across all key measures.