Pepsi ONE Re-launches with SPLENDA(r) Brand Sweetener

Reformulated soft drink features dynamic new package graphics, great taste and still only one calorie

PURCHASE, N.Y. – March 21, 2005 – Pick up a Pepsi ONE can this spring and the new striking black and silver graphics won’t be all that gets your attention. Pepsi-Cola North America today announced that it will add SPLENDA(r) Brand Sweetener to a newly reformulated Pepsi ONE, creating a full-flavor cola taste with only one calorie.

“Consumers today are performing a balancing act. They’re looking for great-tasting foods and beverages while also trying to limit their calorie intake,” said Katie Lacey, vice president of carbonated beverages for Pepsi-Cola North America. “That’s why we’re increasing our focus on diet soft drinks this year, with the reformulation of Pepsi ONE as a major part of our efforts.”

Pepsi is planning an extensive, summer-long push behind its entire diet soft drink portfolio that includes new product news, promotional activity, specialized in-store merchandising and increased advertising support.

Beginning this month, reformulated Pepsi ONE will be available in single-serve 20-oz bottles, 2-liter bottles, and 12-packs and 24-packs of 12-ounce cans wherever Pepsi products are sold. Full national distribution is expected by the end of April.

Major Print and Outdoor Ad Campaign
An outdoor, print and radio advertising campaign – one of the largest non-television campaigns in Pepsi’s history – will support the re-launch of Pepsi ONE with the theme “ONEIFY.” The brand has partnered with street artist and designer Geoff McFetridge to create a lineup of fictional characters that illustrate the unifying spirit of Pepsi ONE and the merger of great taste with one calorie. Beyond billboards and print ads, the characters also will appear in webisodes – short online clips – on www.ONEIFY.com. McFetridge’s designs are also featured on Pepsi ONE marketing materials including t-shirts, posters and urban advertisements. The campaign was created by TBWA Chiat Day, Playa del Ray.

Consumers got their first taste of Pepsi ONE when it debuted in 1998. Its original formula was sweetened with a combination of aspartame and acesulfame potassium.

Pepsi ONE is a product of Purchase, N.Y.-based Pepsi-Cola North America (www.pepsi.com), the $4 billion refreshment beverage unit of PepsiCo Inc. in the United States and Canada. In addition to Pepsi ONE, its U.S. brands include Pepsi, Diet Pepsi, Pepsi Edge, Wild Cherry Pepsi, Pepsi Twist, Pepsi Vanilla, Mountain Dew, Diet Mountain Dew, Mountain Dew Code Red, Mountain Dew LiveWire, Sierra Mist, Sierra Mist Free, Mug, Aquafina, Dole single-serve juices, Tropicana Juice Drinks and SoBe. The company also makes and markets North America’s best-selling ready-to-drink iced teas and coffees, respectively, via joint ventures with Lipton and Starbucks.