Contact:

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

FRIENDLY'S RESTAURANTS NAMES KENNETH GREEN VICE PRESIDENT, COMPANY RESTAURANT OPERATIONS

Wilbraham, MA (August 5, 2004) - - Friendly's Restaurants (AMEX:FRN) announced today that it has promoted Kenneth D. Green to the position of Vice President - Company Restaurant Operations.

In this role, he will oversee all 360-company restaurants.

Most recently, Green served as Friendly's Region Director of Operations with responsibility for Friendly's restaurants in the Philadelphia and New Jersey markets. Prior to that Green held several key operations management positions at Friday's and Cosi's as well as running his own family style restaurants.

"Ken's had an immediate impact on building his organization and providing leadership as a Region Director. Blending his strategic perspective with his operational expertise we are confident in his ability to lead all company operated restaurants", stated John L. Cutter, Friendly's CEO and President.

Friendly Ice Cream Corporation is a vertically integrated restaurant company serving signature sandwiches, entrees and ice cream desserts in a friendly, family environment in over 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 remodeling 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.