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 EASTON, PENNSYLVANIA

Wilbraham, MA (October 25, 2004) - The arrival of a new Friendly's Restaurant will mean some sweet economic benefits for Easton, Pennsylvania, as well as the best ice cream in town.

The restaurant, which opens October 25, 2004 at 3099 William Penn Highway, will bring jobs, tax revenues, and other benefits, according to Bob Bender, President of Revere Restaurant Group, 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 Easton probably don't realize that the franchisee will hire approximately 75 full and 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. "They also support area schools and charities through programs as the Easter Seals 'Cones for Kids' program".

For a limited time, guests at the Easton Friendly's can also enjoy some extra special treats: a free Happy Ending Sundae with the purchase of any of our "Comforts of Home" meals. Guests can also indulge on the featured ice cream flavor - Hazel 'n Joe.

The 130-seat restaurant will be open from 7AM to 11PM Sunday through Thursday and 7AM to 12AM Friday and Saturday.

Linda Lee, General Manager, has over 20 years of experience in the food and hospitality business. "As many people know this restaurant was lost in a fire some time ago. We have been working hard to rebuild the restaurant. We hope that all of our guests will enjoy our new atmosphere and we look forward to serving them some great food and delicious ice cream treats," Bob Bender said.

The Easton restaurant is one of approximately 12 new Friendly's Restaurants that has opened or planned for opening this year throughout the chain. 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 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.