Wendy's Co — Director's Dealing 2003

Oct 20, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ENCORE CAPITAL GROUP INC ((ECPG))
CIK: 0001084961
Period of Report: 2003-10-16

Reporting Person: TRIARC COMPANIES INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-10-16	Common Stock	S	123409	$11.00	Disposed	1901590	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	101275	Direct

Footnotes

F1: In connection with an underwritten public offering of the Issuer's common stock that closed on October 1, 2003, Madison West Associates Corp. (Madison West), a wholly-owned subsidiary of the Reporting Person, granted to the underwriters an overallotment option to acquire up to 123,409 shares of the Issuer's common stock from Madison West, exercisable at any time within 30 days of the closing. On October 16, 2003, the underwriters exercised that overallotment option and agreed to acquire all of such shares. The closing of the sale is scheduled for October 21, 2003.

F2: All such shares are held by Madison West. The Reporting Person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.