Contact:

Maura C. Tobias Friendly's Restaurants 413-543-2400, ext. 2814

FRIENDLY'S DISHES OUT ECONOMIC BENEFITS AS WELL AS ICE CREAM AT NEW RESTAURANT IN VOORHEES, NEW JERSEY

Wilbraham, MA (May 27, 2004) - The arrival of a new Friendly's Restaurant will mean some sweet economic benefits for Voorhees, New Jersey as well as the best ice cream in town.

The restaurant, which opened May 24, 2004 at 890 Berlin Road, will bring jobs, tax revenues, and other benefits, according to Jim Yanucil, President and Owner of LJ3, Inc., which owns the restaurant.

"When people see a new Friendly's Restaurant, they think of family-friendly dining, and favorites like our Big Beef Hamburgers and Fribbles®. People in Voorhees probably don't realize that the franchisee hired approximately 20 full- and 100 part-time employees for the new restaurant and is buying local services like construction and landscaping," said Larry Rusinko, Senior Vice President, Marketing for Friendly's. "We also support area schools and charities through programs like 'Cones for Kids'".

For a limited time, guests at the Voorhees Friendly's can also enjoy some extra special treats: a free Happy Ending Sundae with the purchase of any of six featured sandwiches, including the new Baja Chicken Sandwich and Baja Colossal Burger. Guests can also indulge on the featured ice cream flavor - Nuts over Caramel.

The 152-seat restaurant will be open from 7AM to 12AM seven days a week.

General Manager Jeff Blum has more than 10 years of experience in the food and hospitality business. "We're looking forward to serving the people of Voorhees the great food and ice cream that Friendly's is known for and to being an active member of the community," said Jim Yanucil.

The Voorhees restaurant is one of approximately 15 new Friendly's Restaurants planned for opening this year. The company has enjoyed strong comparable sales growth in the past few years.

Friendly Ice Cream Corporation (Amex: FRN) is a vertically integrated restaurant company serving signature sandwiches, entrees and ice cream desserts in a friendly, family environment in more than 530 company and franchised restaurants throughout the Northeast. The company also manufactures ice cream, which is distributed through more than 4,500 supermarkets and other retail locations. With a 68-year operating history, Friendly's enjoys strong brand recognition and is currently revitalizing its restaurants and introducing new products to grow its customer base. Additional information on Friendly Ice Cream Corporation can be found on the Company's website www.friendlys.com.