PepsiAmericas Board of Directors Confirms Receipt of Proposal From PepsiCo

MINNEAPOLIS--(Business Wire)--
PepsiAmericas, Inc. (NYSE:PAS) today confirmed that it has received a
non-binding proposal from PepsiCo, Inc. to acquire all of the outstanding shares
of PepsiAmericas` common stock that are not already owned by PepsiCo for $23.27
per share consisting of $11.64 per share in cash plus 0.223 shares of PepsiCo
common stock. PepsiAmericas` Board of Directors will review the proposal
carefully and determine the appropriate response in due course. PepsiAmericas
shareholders are advised to take no action at this time pending the review by
the Board of Directors of PepsiAmericas.

About PepsiAmericas

PepsiAmericas is the world's second-largest manufacturer, seller and distributor
of PepsiCo beverages. With annual sales of $4.9 billion in 2008, PepsiAmericas
employs more than 20,000 people and operates 33 manufacturing facilities and
over 175 distribution centers across its markets. PAS serves a population of
more than 200 million in a significant portion of a 19-state region in the U.S.;
Central and Eastern Europe, including Ukraine, Poland, Romania, Hungary, the
Czech Republic and Slovakia; and the Caribbean. For more information, please
visit www.pepsiamericas.com.

PepsiAmericas, Inc.
Mary Viola, 847-598-2870 (Press)
Sara Zawoyski, 612-661-3830 (Investors)

Copyright Business Wire 2009