ARAMARK Announces Record Fiscal Year Results

-- Sales increase 8 percent to reach record $11.0 billion

-- Diluted earnings per share rise 13 percent to $1.53

-- Fourth quarter sales rise 6 percent, diluted earnings per share reach $0.49

-- Annual dividend increased 27 percent, additional $200 million approved for share repurchases

ARAMARK Corporation (NYSE:RMK), a world leader in managedservices, today reported fiscal 2005 sales of $11.0 billion, an 8percent increase over 2004. Net income rose 10 percent to $288million, a record from continuing operations, and diluted earnings pershare increased 13 percent to $1.53.

For the fourth quarter, the company reported sales of $2.8billion, an increase of 6 percent over the prior year quarter. Netincome rose 8 percent to $92 million. Diluted earnings per shareincreased to $0.49.

ARAMARK also announced that its Board of Directors has declared aquarterly cash dividend of $0.07 per share on its Class A and Class Bcommon stock, an increase of 27 percent. The dividend will be payableon December 14, 2005 to ARAMARK shareholders of record at the close ofbusiness on November 25, 2005. In addition, the Board approved the useof up to an additional $200 million to repurchase shares of ARAMARK'sClass A or Class B common stock under the stock repurchase program,bringing the total remaining authorization to $252 million.

Chief Executive Officer's Comments

"I am proud of the company's performance this year as we achievedrecord levels of sales and income from continuing operations," saidJoseph Neubauer, Chairman and Chief Executive Officer of ARAMARK. "Wecontinue to deliver strong cash flow, and we are pleased with theBoard's decision to increase the dividend 27 percent, demonstratingits confidence in our business and future prospects.

"This year, our operating model continued to be robust, and ourpeople have excelled across the key business sectors and geographies.In particular, our U.S. Education and Healthcare businesses have shownstrong sales growth.

"Growth in our international business was also encouraging in2005, with sales increasing 25 percent to $2.3 billion, including theimpact of our acquisition in China and investment increases in ourIrish and Chilean affiliates. Our uniform rental businesscontinued to grow, with an 8 percent increase in both sales andoperating income for the year.

"As we enter 2006, I remain confident in our strategies for futuregrowth and our team's ability to deliver results for our clients andshareholders. We will continue to refine and expand our marketexpertise, deepen our understanding of customer preferences, andincrease our cross-selling efforts, all of which contribute to thesuperior value we deliver to our clients around the world."

Full-Year Results

Sales in the Food and Support Services - U.S. segment increased 4percent to $7.1 billion. Organic growth was also 4 percent, driven bygrowth in the Healthcare, Education and Corrections businesses.Operating income increased 7 percent to $403 million.

Food and Support Services - International segment sales grew 25percent to $2.3 billion. Organic growth was 6 percent. Operatingincome increased 17 percent to $78.0 million. ARAMARK continued tobuild its global footprint, expanding in Ireland, China and Japan. Thecompany moved to 90 percent ownership of Campbell Catering, thelargest food service company in Ireland, and AIM Services, itsJapanese joint venture, extended its presence in Japan's attractiveHealthcare and Education sectors.

Sales for the Uniform and Career Apparel - Rental segment were$1.1 billion, an increase of 8 percent from fiscal year 2004. Organicgrowth was 5 percent. Segment operating income was up 8 percent to$125.8 million. This business continued to enhance its footprint in2005, including strategic acquisitions in Southern California and NewYork.

Sales for the Uniform and Career Apparel - Direct Marketingsegment decreased 3 percent to $428 million, with operating income of$11 million.

In fiscal 2005, ARAMARK added many new clients across itsbusinesses, including Lincoln Financial Field; the WashingtonNationals; Harvard University; the University of Houston; the SchoolDistrict of Philadelphia; Clear Channel; the State of Indiana'sDepartment of Corrections; Mid Hants, the U.K. Ministry of Defense;Grupo Allianza in Spain; and Airbus in Germany.

To further drive sales and base business growth, ARAMARKintroduced several new consumer-focused marketing initiatives thisyear. The company opened the doors of its new Innovation Center, whichintegrates its latest advances in marketing, merchandising, culinary,and space design. ARAMARK released the findings of its latest researchunder the DiningStyles framework, which is designed to help thecompany better understand and satisfy customers' needs andpreferences. The company also expanded its award-winning Just4U(TM) -Food that Fits Your Life nutritional away-from-home dining programwith Just4U for Vending, which helps customers identify, purchase andenjoy healthier snacks and beverages in the workplace. ARAMARK alsolaunched its Customer Close-up initiative, a research-based diningprogram designed to fit the dining preferences of healthcare employeesand visitors.

Fourth-Quarter Results

In the fourth quarter, sales in the Food and Support Services -U.S. segment were $1.8 billion, up 2 percent from the year-agoquarter. Organic sales growth was 3 percent. Growth in the Educationand Corrections businesses was partially offset by the impact of thehurricanes and loss of two baseball clients late last year. Segmentoperating income was $133 million.

In the Food and Support Services - International segment, salesincreased 22 percent to $565 million, including a 4 percentage pointcurrency translation benefit. Organic growth was 7 percent, driven bystrong growth in Germany, Canada and Chile. Segment operating incomewas $17.9 million.

Sales in the Uniform and Career Apparel - Rental segment were $286million, up 8 percent from the year-ago quarter. Organic growth was 5percent. Segment operating income increased 10 percent to $34.5million.

In the Uniform and Career Apparel - Direct Marketing segment,sales were $99 million, comparable with the year-ago quarter. Thesegment reported a small loss for the quarter.

Guidance for Fiscal 2006

For fiscal year 2006, ARAMARK expects sales of $11.5 billion to$11.8 billion. ARAMARK is targeting organic growth in its worldwideFood and Support Services business of 5 to 7 percent, and in itscombined uniforms businesses of 4 to 6 percent. Diluted earnings pershare for 2006 are expected to be in the range of $1.57 and $1.67,which reflects an estimated $0.08 per share impact of expensingemployee stock options, or between $1.65 and $1.75 without givingeffect to the expensing of employee stock options.

For the first quarter of 2006, the company anticipates salesbetween $2.75 billion and $2.85 billion, and diluted earnings pershare between $0.38 and $0.41, including a $0.02 impact of expensingemployee stock options, or between $0.40 and $0.43 without givingeffect to the expensing of employee stock options.

"As we look forward to 2006, we remain focused on five key areasincluding increasing client retention, growing base business,increasing new business, enhancing margins and returning cash toshareholders," said Neubauer. "These strategies support our focus ondelivering value to our clients, customers and shareholders, as wemaintain a disciplined approach to all our businesses."

Awards and Recognition

ARAMARK also received several prestigious recognitions in 2005.For the eighth consecutive year, ARAMARK was named among America'sMost Admired Companies by Fortune magazine, and it was named thenumber one provider of noncommercial food service in the United Statesby Food Management magazine. The company received two Best Conceptsawards and a MenuMasters award for select dining programs. For itsemployment practices, the company was named among Fortune magazine'sTop 50 Employers for Minorities, Hispanic Business magazine's Top 40Companies for Hispanics, and Black Enterprise magazine's Top 30Companies for Diversity.

Conference Call and Related Financial Information

In conjunction with its fourth quarter and full-year earningsrelease, ARAMARK will discuss its results in a conference callbroadcast live over the Internet on November 16, 2005 at 10:00 a.m.Eastern Time. Interested parties are invited to log on towww.aramark.com to listen to this webcast. A recording of theconference call will be available on that website.

The balance sheet, income statement and other financialinformation related to the fourth fiscal quarter of 2005 are attachedto this press release and can also be found on the Investor Relationssection of ARAMARK's website at www.aramark.com.

Certain previously undisclosed financial information, as well asreconciliations of non-GAAP financial measures that are disclosed inthe conference call, will also be available on the Investor Relationssection of ARAMARK's website.

About ARAMARK

ARAMARK Corporation is a world leader in providing award-winningfood and facilities management services to health care institutions,universities and school districts, stadiums and arenas, andcorporations, as well as providing uniform and career apparel. ARAMARKwas ranked number one in its industry in the 2005 FORTUNE 500 surveyand was also named one of "America's Most Admired Companies" byFORTUNE magazine in 2005, consistently ranking since 1998 as one ofthe top three most admired companies in its industry as evaluated bypeers. Headquartered in Philadelphia, ARAMARK has approximately242,500 employees serving clients in 20 countries. Learn more at thecompany's Web site, www.aramark.com

Forward-Looking Statements

Forward-looking statements speak only as of the date made. Weundertake no obligation to update any forward-looking statements,including prior forward-looking statements, to reflect the events orcircumstances arising after the date as of which they were made. As aresult of these risks and uncertainties, readers are cautioned not toplace undue reliance on any forward-looking statements included hereinor that may be made elsewhere from time to time by, or on behalf of,us.

This press release includes "forward-looking statements" withinthe meaning of the Private Securities Litigation Reform Act of 1995that reflect our current views as to future events and financialperformance with respect to our operations. These statements can beidentified by the fact that they do not relate strictly to historicalor current facts. They use words such as "aim," "anticipate," "areconfident," "are comfortable," "estimate," "expect," "will be," "willcontinue," "will likely result," "project," "intend," "plan,""believe," "look to," "hope" and other words and terms of similarmeaning in conjunction with a discussion of future operating orfinancial performance.

These statements are subject to risks and uncertainties that couldcause actual results to differ materially from those expressed orimplied in the forward-looking statements. Factors that might causesuch a difference include: unfavorable economic conditions,ramifications of any future terrorist attacks or increased securityalert levels; increased operating costs, including labor-related andenergy costs; shortages of qualified personnel or increases in laborcosts; costs and possible effects of union organizing activities;currency risks and other risks associated with international markets;risks associated with acquisitions, including acquisition integrationcosts; our ability to integrate and derive the expected benefits fromrecent acquisitions; competition; decline in attendance at clientfacilities; unpredictability of sales and expenses due to contractterms and terminations; the risk that clients may become insolvent;the contract intensive nature of our business, which may lead toclient disputes; high leverage; claims relating to the provision offood services; costs of compliance with governmental regulations andgovernment investigations; liability associated with non-compliancewith governmental regulations, including regulations pertaining tofood service, the environment, Federal and state employment laws andwage and hour laws; import and export controls and customs laws; dramshop litigation; inability to retain current clients and renewexisting client contracts; determination by customers to reduceoutsourcing and use of preferred vendors; seasonality; and other risksthat are set forth in the "Risk Factors," "Legal Proceedings" and"Management Discussion and Analysis of Results of Operations andFinancial Condition" sections of and elsewhere in ARAMARK's SECfilings, copies of which may be obtained by contacting ARAMARK'sinvestor relations department via its website www.aramark.com.

ARAMARK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
(In Thousands, Except Per Share Amounts)


Three Months Ended
----------------------------
September 30, October 1,
2005 2004
------------- -------------

Sales $ 2,781,619 $ 2,620,930
------------- -------------

Costs and Expenses:
Cost of services provided 2,488,145 2,342,421
Depreciation and amortization 84,156 79,887
Selling and general corporate
expenses (1) 32,924 37,664
------------- -------------
2,605,225 2,459,972
------------- -------------
Operating income 176,394 160,958
Interest and other financing costs, net 30,142 29,919
------------- -------------
Income before income taxes 146,252 131,039
Provision for income taxes 54,700 46,401
------------- -------------
Net income $ 91,552 $ 84,638
============= =============

Earnings Per Share:
Basic $ 0.50 $ 0.45
Diluted $ 0.49 $ 0.44

Weighted Average Shares Outstanding:
Basic 184,689 187,805
Diluted 186,750 191,369


(1) Includes a $10.0 million ($6.1 million net of tax) charge for a
management change that was recorded in the fourth quarter of
fiscal 2004.


ARAMARK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
(In Thousands, Except Per Share Amounts)


Fiscal Year Ended
----------------------------
September 30, October 1,
2005 2004
------------- -------------

Sales $ 10,963,360 $ 10,192,240
------------- -------------

Costs and Expenses:
Cost of services provided 9,925,799 9,223,788
Depreciation and amortization 320,118 297,993
Selling and general corporate
expenses (1) 137,271 132,881
------------- -------------
10,383,188 9,654,662
------------- -------------
Operating income 580,172 537,578
Interest and other financing costs, net 126,999 122,362
------------- -------------
Income before income taxes 453,173 415,216
Provision for income taxes 164,698 152,112
------------- -------------
Net income $ 288,475 $ 263,104
============= =============

Earnings Per Share:
Basic $ 1.55 $ 1.39
Diluted $ 1.53 $ 1.36

Weighted Average Shares Outstanding:
Basic 185,991 188,799
Diluted 188,309 193,454


(1) Includes a $10.0 million ($6.1 million net of tax) charge for a
management change that was recorded in the fourth quarter of
fiscal 2004.


ARAMARK CORPORATION AND SUBSIDIARIES
SELECTED CONSOLIDATED BALANCE SHEET DATA
(Unaudited)
(In Thousands)


September 30, October 1,
2005 2004
------------- -------------
Assets
----------------------------------------

Current Assets $ 1,443,227 $ 1,340,015
Property and Equipment, net 1,211,454 1,214,382
Goodwill 1,682,749 1,589,144
Other Assets 819,670 678,032
------------- -------------
$ 5,157,100 $ 4,821,573
============= =============

Liabilities and Shareholders' Equity
----------------------------------------

Current Liabilities (1) $ 1,518,680 $ 1,454,930
Long-Term Borrowings 1,794,522 1,843,200
Other Liabilities 518,434 373,788
Total Shareholders' Equity 1,325,464 1,149,655
------------- -------------
$ 5,157,100 $ 4,821,573
============= =============


(1) Includes $46.4 million and $25.5 million of current maturities of
long-term borrowings as of September 30, 2005 and October 1, 2004,
respectively.


ARAMARK CORPORATION AND SUBSIDIARIES
SELECTED CONSOLIDATED CASH FLOW DATA
(Unaudited)
(In Thousands)


Fiscal Year Ended
---------------------------
September 30, October 1,
2005 2004
------------- -------------

Cash flows from operating activities:
Net income $ 288,475 $ 263,104
Adjustments to reconcile net income
to net cash provided by operating
activities:
Depreciation and amortization 320,118 297,993
Income taxes deferred (4,073) 32,749
Changes in noncash working capital 7,386 (43,068)
Net proceeds from sale of receivables 32,800 -
Other operating activities (32,926) (33,212)
------------- -------------
Net cash provided by operating
activities 611,780 517,566
------------- -------------

Cash flows from investing activities:
Net purchases of property and
equipment and client contract
investments (293,979) (288,260)
Proceeds from sales and divestitures 11,518 8,500
Acquisitions and other investing
activities (83,434) (159,680)
------------- -------------
Net cash used in investing activities (365,895) (439,440)
------------- -------------

Cash flows from financing activities:
Net proceeds (repayments) of long-
term borrowings (32,247) 97,742
Dividend payments (40,321) (37,213)
Proceeds from issuance of common
stock 35,748 39,748
Repurchase of stock and other
financing activities (198,318) (177,559)
------------- -------------
Net cash used in financing activities (235,138) (77,282)
------------- -------------

Increase in cash and cash equivalents $ 10,747 $ 844
============= =============


ARAMARK CORPORATION AND SUBSIDIARIES
SALES AND OPERATING INCOME BY SEGMENT
SUPPLEMENTAL DATA
(Unaudited)
(In Thousands)


Three Months Ended
----------------------------
September 30, October 1,
2005 2004
------------- -------------
Sales
----------------------------------------
Food and Support Services - United
States $ 1,831,592 $ 1,793,529
Food and Support Services -
International 564,837 463,749
Uniform and Career Apparel - Rental 285,949 264,064
Uniform and Career Apparel - Direct
Marketing 99,241 99,588
------------- -------------
$ 2,781,619 $ 2,620,930
============= =============

Operating Income
----------------------------------------
Food and Support Services - United
States $ 133,104 $ 136,047
Food and Support Services -
International 17,897 7,811
Uniform and Career Apparel - Rental 34,472 31,257
Uniform and Career Apparel - Direct
Marketing (978) 1,331
Corporate (1) (8,101) (15,488)
------------- -------------
$ 176,394 $ 160,958
============= =============


(1) Includes a $10.0 million ($6.1 million net of tax) charge for a
management change that was recorded in the fourth quarter of
fiscal 2004.


ARAMARK CORPORATION AND SUBSIDIARIES
SALES AND OPERATING INCOME BY SEGMENT
SUPPLEMENTAL DATA
(Unaudited)
(In Thousands)


Fiscal Year Ended
----------------------------
September 30, October 1,
2005 2004
------------- -------------
Sales
----------------------------------------
Food and Support Services - United
States $ 7,129,100 $ 6,879,288
Food and Support Services -
International 2,280,165 1,830,428
Uniform and Career Apparel - Rental 1,125,802 1,042,544
Uniform and Career Apparel - Direct
Marketing 428,293 439,980
------------- -------------
$ 10,963,360 $ 10,192,240
============= =============

Operating Income
----------------------------------------
Food and Support Services - United
States (1) $ 403,056 $ 375,840
Food and Support Services -
International (2) 77,981 66,647
Uniform and Career Apparel - Rental 125,827 115,998
Uniform and Career Apparel - Direct
Marketing 11,157 20,083
Corporate (3) (37,849) (40,990)
------------- -------------
$ 580,172 $ 537,578
============= =============


(1) Includes $9.7 million gain on real estate sale by equity affiliate
that was recorded in the second quarter of fiscal 2005.

(2) Includes $7.4 million charge for exiting West Africa business and
severance that was recorded in the second quarter of fiscal 2005.

(3) Includes a $10.0 million ($6.1 million net of tax) charge for a
management change that was recorded in the fourth quarter of
fiscal 2004.


ARAMARK CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP MEASURES
ORGANIC SALES GROWTH
(Unaudited)
(In thousands)

----------------------------------------------------------------------
Management believes that presentation of sales growth in the quarterly
and year-to-date periods adjusted to eliminate the effects of
acquisitions, divestitures and the impact of currency translation
(organic growth), provides useful information to investors because it
enhances comparability between the current year and prior year
reporting periods. Elimination of the currency translation effect
provides constant currency comparisons without the distortion of
currency rate fluctuations.
----------------------------------------------------------------------


Three Months Ended
---------------------------
September 30, October 1, %
2005 2004 Change
------------- ------------- ------

Food and Support Services -
International Sales (as reported) $ 564,837 $ 463,749 22%
Effect of Currency Translation - 13,026
------------- -------------
Food and Support Services -
International Sales (excluding
currency translation) 564,837 476,775 18%
Effect of Acquisitions and
Divestitures (61,689) (4,662)
------------- -------------
Food and Support Services -
International Sales (as adjusted) $ 503,148 $ 472,113 7%
============= =============


Fiscal Year Ended
---------------------------
September 30, October 1, %
2005 2004 Change
------------- ------------- ------

Food and Support Services -
International Sales (as reported) $ 2,280,165 $ 1,830,428 25%
Effect of Currency Translation - 98,814
------------- -------------
Food and Support Services -
International Sales (excluding
currency translation) 2,280,165 1,929,242 18%
Effect of Acquisitions and
Divestitures (274,209) (30,741)
------------- -------------
Food and Support Services -
International Sales (as adjusted) $ 2,005,956 $ 1,898,501 6%
============= =============


ARAMARK CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP MEASURES
FORECASTED DILUTED EARNINGS PER SHARE
(Unaudited)

----------------------------------------------------------------------
In December 2004, the FASB issued a revision of SFAS No. 123,
"Accounting for Stock-Based Compensation," which also supersedes APB
Opinion No. 25, "Accounting for Stock Issued to its Employees," and
its related implementation guidance. This Statement requires a public
entity to measure the cost of employee services received in exchange
for an award of equity instruments based on the grant-date fair value
of the award, and recognize the cost over the period during which an
employee is required to provide service in exchange for the award--
the requisite service period. This Statement is effective for the 2006
fiscal year, and the Company plans to follow the modified prospective
application transition method. Since prior year financial results will
not be restated to reflect this change, comparability will be
affected, and management believes presenting the earnings per share
effect of the change will be useful to investors.
----------------------------------------------------------------------


Three Months Ended Fiscal Year Ended
December 30, September 29,
2005 2006
------------------ ------------------

Forecasted Range of Diluted
Earnings Per Share (Including
stock option expense) $0.38 - $0.41 $1.57 - $1.67
Estimated Impact of
Expensing Employee Stock
Options $0.02 $0.02 $0.08 $0.08
-------- -------- -------- --------
Forecasted Range of Diluted
Earnings Per Share (Excluding
stock option expense) $0.40 - $0.43 $1.65 - $1.75
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