JOINT FILING AGREEMENT

                                                                       EXHIBIT 5
                                                                       ---------



                             JOINT FILING AGREEMENT


         In accordance with Rule 13d-1(f) under the Securities Exchange Act of
1934, as amended, the persons named below agree to the joint filing on behalf of
each of them of Amendment No. 14 to the Schedule 13D (and any further amendment
filed by them) with respect to the Class A Common Stock, par value $.10 per
share, and Class B Common Stock, Series 1, par value $.10 per share, of Triarc
Companies, Inc.



                                        DWG ACQUISITION GROUP, L.P.

                                        By: /s/ Xxxxxx Xxxxx
                                           ----------------------------------
                                                Name:  Xxxxxx Xxxxx
                                                Title: General Partner


                                        By: /s/ Xxxxx X. May
                                           ----------------------------------
                                                Name:  Xxxxx X. May
                                                Title: General Partner

                                        /s/ Xxxxxx Xxxxx
                                        --------------------------------------
                                        Xxxxxx Xxxxx

                                        /s/ Xxxxx X. May
                                        --------------------------------------
                                        Xxxxx X. May



Dated:  September 24, 2003