PEPSICO INC — Director's Dealing 2006

May 15, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PEPSI BOTTLING GROUP INC (PBG)
CIK: 0001076405
Period of Report: 2006-05-11

Reporting Person: PEPSICO INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-05-11	Common Stock, par value $.01 per share	S	70000	—	Disposed	94476458	Direct
2006-05-12	Common Stock, par value $.01 per share	S	132000	—	Disposed	94344458	Direct

Footnotes

F1: All sales listed on this Form 4 were made by PepsiCo, Inc., on behalf of its affiliates pursuant to a plan adopted February 10, 2006, which is intended to comply with Rule 10b5-1(c).

F2: The shares with respect to this transaction were sold at prices ranging from $31.56 to $32.10.

F3: The shares with respect to this transaction were sold at prices ranging from $31.25 to $31.58.