MEADOWLANDS XANADU AND PEPSI ANNOUNCE “THE PEPSI GLOBE,” AMERICA’S LARGEST FERRIS WHEEL

New York, February 21– Meadowlands Xanadu, a unique sports, leisure, shopping and family entertainment destination in East Rutherford, New Jersey, and Pepsi announced a 10-year tenant/naming rights agreement to create a Pepsi-branded experience featuring America’s largest Ferris, or observation, wheel, the 287-foot-tall “Pepsi Globe.”“The Pepsi Globe is an iconic symbol that is reflective of our brand’s identity– it’s bold, it’s contemporary, and it’s fun,” said Cie Nicholson, SVP and CMO, Pepsi-Cola North America. “Having a visionary partner like

Meadowlands Xanadu, who is delivering an unprecedented consumer experience that is environmentally responsible, makes this a tremendous collaboration that fits perfectly with our Performance with Purpose mission.”The Pepsi Globe will be green powered year round, with energy obtained through the purchase of wind power credits from a Texas generating plant, and it will be at least partially made from recycled materials.“The Pepsi Globe will be an instant landmark – the signature attraction heralding the premiere entertainment and shopping destination in the country,” said Laurence Siegel, President, Meadowlands Development, the creators of Meadowlands Xanadu. “The great wheel is also a colossal branding opportunity and we are delighted that a company with the power, reach and prestige of Pepsi has joined forces with us to promote their brand and Meadowlands Xanadu. We look forward to an extremely productive and successful relationship.”Pepsi will offer unique interactive experiences during the

Pepsi Globe ride, which will last approximately 25 minutes for a full revolution and offer sweeping vistas of the New York skyline and the Hudson River. Groups of up to 20 visitors each will enter 26 glass-enclosed, climate controlled capsules for the ride of a lifetime.Travelers approaching Meadowlands Xanadu will identify it by its signature Ferris wheel. The iconic Pepsi Globe will be as recognizable and visible a symbol as St. Louis’ Gateway Arch, Seattle’s Space Needle or the London Eye.As part of the 10-year tenant/naming rights agreement, Pepsi will implement a series of promotional activities and tie-ins, including the nationwide distribution of 450 million beverage cans featuring the Pepsi Globe at Meadowlands Xanadu, commemorating the wheel’s grand opening event, and designed by Rodrigo Bilbao, VP – Development Director for MeadowlandsXanadu, and an avid Pepsi drinker. Each year thereafter, Pepsi will distribute millions of Meadowlands Xanadu co-branded cans throughout the metropolitan area.Michael Kassan of Media Link, an advisor to Meadowlands Xanadu, said, “This unprecedented agreement with Pepsi is the first of many for Meadowlands Xanadu.

It sets the stage for all our future sponsorships, and we look forward to welcoming additional brand partners.”The Xanadu opportunity was brought to Pepsi by brand energy agency Protagonist, led by Matti Leshem. "Matti's been a terrific partner. He didn't just make the introduction, he's an integral part of developing the ride, from creating an interactive experience inside the capsules to building Globe-shaped recycling bins for placement throughout the venue," said Kristina Mangelsdorf, director of marketing for Pepsi.When complete, Meadowlands Xanadu will encompass 94 acres and will feature five distinct Lifestyle Districts: sports, entertainment, youth culture, food and home, and fashion.

The project will offer Pepsi an opportunity to build the Pepsi experience and will also provide a host of other significant branding opportunities for other sponsors throughout the development.ABOUT MEADOWLANDS XANADU Meadowlands Xanadu, under construction in the heart of the NY/NJ metropolitan region, will feature approximately 2.3 million square feet of unique entertainment, interactive attractions, sports and retail unlike any other in the world. The $2 billion complex features five themed districts, Sports, Entertainment, Youth Culture, Food & Home and Fashion, providing a wide variety of experiences catering to different lifestyles and interests. The spectacular complex in the New Jersey Meadowlands will be home to North America’s largest climate controlled Ferris wheel offering breathtaking views of the Manhattan skyline and northern New Jersey. The top-of-the line retail stores, gourmet restaurants, America’s first indoor snow dome, a skydiving tower, multiple movie theaters, a concert and live theater venue and much more will be set in a high-energy, media-rich environment.

Meadowlands Xanadu is a unique destination that will redefine leisure time. It will be a stage where brands, entertainment and technology join to create larger than life experiences. Meadowlands Xanadu is being developed by Meadowlands Development whose partners include Colony Capital, The Dune Real Estate Funds and KanAm.

ABOUT PEPSI-COLA NORTH AMERICA Purchase, N.Y.-based Pepsi-Cola North America (www.pepsi.com) is the refreshment beverage unit of PepsiCo, Inc., in the United States and Canada. Its U.S. products include several varieties of Pepsi, Diet Pepsi, Mountain Dew, Sierra Mist, Aquafina, IZZE, SoBe, Dole and Tropicana. The company also makes and markets ready-to-drink iced teas and coffees through joint ventures with Lipton and Starbucks.ABOUT PEPSICO PepsiCo (NYSE: PEP) is one of the world’s largest food and beverage companies, with 2007 annual revenues of more than $39 billion. The company employs approximately 185,000 people worldwide, and its products are sold in approximately 200 countries. Its principal businesses include: Frito-Lay snacks, Pepsi-Cola beverages, Gatorade sports drinks, Tropicana juices and Quaker foods. The PepsiCo portfolio includes 17 brands that generate $1 billion or more each in annual retail sales. PepsiCo’s commitment to sustainable growth, defined as Performance with Purpose, is focused on generating healthy financial returns while giving back to communities the company serves. This includes meeting consumer needs for a spectrum of convenient foods and beverages, reducing the company’s impact on the environment through water, energy and packaging initiatives, and supporting its employees through a diverse and inclusive culture that recruits and retains world-class talent. PepsiCo is listed on the Dow Jones North America Sustainability Index and the Dow Jones World Sustainability Index. For more information, please visit www.pepsico.com.Artist’s rendering of Pepsi Globe, courtesy Meadowlands Xanadu