PEPSICO INC — Director's Dealing 2007

May 21, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PEPSI BOTTLING GROUP INC (PBG)
CIK: 0001076405
Period of Report: 2007-05-17

Reporting Person: PEPSICO INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-17	Common Stock, par value $.01 per share	S	20000	—	Disposed	82448003	Direct
2007-05-18	Common Stock, par value $.01 per share	S	36645	—	Disposed	82411358	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 November 20, 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 $33.50 to $33.67.

F3: The shares with respect to this transaction were sold at prices ranging from $33.51 to $33.98.