McDonald's Corporation to Redeem Notes

Today, McDonald's Corporation announced it has called for the redemption of its $200,000,000 7-3/8% Debentures due 2033 (NYSE: MCD33) on July 15, 2003. These debentures will be redeemed at 104.635 percent of the principal amount plus accrued interest up to, but not including, the redemption date. The redemption agent is:

                                Wachovia Bank
                         Customer Information Center
                     1525 West W.T. Harris Blvd - NC 1153
                          Charlotte, NC  28288-1153
                                1-800-665-9343

On and after July 15, 2003, interest will cease to accrue on these Debentures.

More than 30,000 local McDonald's restaurants serve 46 million customers each day in more than 100 countries, generating more than $40 billion in annual Systemwide sales. Additional information about McDonald's is available at www.mcdonalds.com .

Logo: http://www.newscom.com/cgi-bin/prnh/19990916/MCDLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840

SOURCE: McDonald's Corporation

CONTACT: Investors, Mary Healy, +1-630-623-6429, or Media, Anna
Rozenich, +1-630-623-7316, both of McDonald's Corporation

Web site: http://www.mcdonalds.com/