The board of directors of The Quaker Oats Company (NYSE: OAT) today declared a quarterly dividend of 28-1/2 cents per share on the Company’s outstanding common stock, payable October 13, 2000, to shareholders of record on September 22, 2000.

The Quaker Oats Company press releases are available through the Internet: at www.quakeroats.com. They are also available at PR Newswire’s Company News On-Call Fax Service. For a menu of available Quaker Oats Company news releases or to retrieve a specific release, call 800-758-5804, extension 103689.

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CONTACT: Investors, Margaret M. Eichman, V.P. Investor Relations and Corporate Affairs, 312-222-7818, or Media, Mark Dollins, Director, Corporate Communications, 312-222-7399, both of The Quaker Oats Company.

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Nominations are now closed for the Just Food Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

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