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 MILFORD, MASSACHUSETTS

Wilbraham, MA (September 20, 2004) - The arrival of a new Friendly's Restaurant will mean some sweet economic benefits for Milford, MA as well as the best ice cream in town.

The restaurant, which opens Tuesday, September 21, 2004 at 17 Medway Road, will bring jobs, tax revenues, and other benefits to the area.

"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 Milford probably don't realize that we will be hiring approximately 35 full-and part-time employees for our new restaurant and 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'".

The new 4,200-square-foot restaurant has ice cream colors and a soda fountain counter, which evokes the heritage that has made Friendly's a family favorite for decades. For a limited time, guests at the Milford Friendly's can also enjoy some extra special treats: a free Happy Ending Sundae with the purchase of any of our featured chicken meals. Guests can also indulge on the featured ice cream flavor - Velvet Praline Crunch.

The 158-seat restaurant will be open from 7AM to 11PM Sunday thru Thursday and 7AM to 12AM Friday and Saturday.

District Manager, Scott Viera and Dave Middleton, General Manager, have more than 40 years of combined experience in the food and hospitality business. "We're looking forward to serving the people of Milford and the Milford area the great food and ice cream that Friendly's is known for and to being an active member of the community," said Scott Viera

The Milford restaurant is one of approximately 12 new Friendly's Restaurants planned for opening this year.

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 540 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.