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The Pepsi Bottling Group Announces Plan to Acquire Lane Affiliated Companies

SOMERS, N.Y.-(Business Wire)-September 24, 2008 - The Pepsi Bottling Group, Inc. (NYSE:PBG) today announced that it has signed a Letter of Intent to acquire Lane Affiliated Companies, Inc., the eighth largest Pepsi bottler in the United States.

Founded by Ross Lane more than 70 years ago, Lane Affiliated Companies is a family-owned business headquartered in Colorado Springs, CO. Its territories include portions of Colorado, Arizona and New Mexico. The deal is PBG’s largest acquisition of a U.S. bottler since becoming a publicly traded company in 1999.

“The Lane family has been an invaluable member of the Pepsi network for decades. Their longtime tradition of customer service and community involvement has earned their company a reputation as one of the best bottlers in the system,” said PBG President and Chief Executive Officer Eric Foss. “We’re very pleased to add the Lane operations to our business. Once completed, the deal will strengthen our operations by expanding our footprint across contiguous territories and enhancing our ability to meet the needs of our customers. We’re looking forward to welcoming Lane Affiliated’s many great employees into the PBG family.”

Lane Affiliated Companies employs approximately 600 people. Its operations include one production facility in Colorado Springs and another in Tucson, AZ. The company also has satellite warehouses in Yuma, AZ, Casa Grande, AZ and Las Cruces, NM.

The transaction is expected to be completed during the fourth quarter of 2008. Financial terms were not disclosed.

About PBG

The Pepsi Bottling Group, Inc. is the world's largest manufacturer, seller and distributor of Pepsi-Cola beverages with annual sales of nearly $14 billion. With over 70,000 employees worldwide, PBG has operations in the U.S., Canada, Mexico, Russia, Spain, Turkey and Greece. For more information, visit the Company's website at www.pbg.com.

Forward-Looking Statement

Statements made in this press release that relate to future performance or financial results of PBG are forward-looking statements which involve uncertainties that could cause actual performance or results to materially differ. PBG undertakes no obligation to update any of these statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. Accordingly, any forward-looking statement should be read in conjunction with the additional information about risks and uncertainties set forth in PBG's Securities and Exchange Commission reports, including PBG's annual report on Form 10-K for the year ended December 29, 2007.

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