Press Room

January 05, 2005

Friendly's Announces Re-Franchise Agreement

Contact:
Maura C. Tobias Friendly's Restaurants 413-543-2400 ext. 2814	or	Mike Steigerwald    JEMM Restaurants, LLC    440-878-1122"

FRIENDLY'S ANNOUNCES RE-FRANCHISE AGREEMENT

WILBRAHAM, MASSACHUSETTS - January 5, 2005 - - Friendly's Restaurants Franchise, Inc., a subsidiary of Friendly Ice Cream Corporation (AMEX: FRN) of Wilbraham, Massachusetts, announced today they have entered into a re-franchise agreement with existing franchisee JEMM Restaurants, LLC.

Mike Steigerwald, President, is a former Friendly's employee who has nine years of Friendly's restaurant operations experience. Mr. Steigerwald, was formerly the Regional Director of the Ohio, Pennsylvania and Virginia Friendly's restaurants.

With this agreement, JEMM Restaurants, LLC. will lease the Friendly's restaurants in Elyria and Sandusky. They will also continue to own and operate the Friendly's restaurants in Ashland and Cuyahoga Falls. Also, as part of the agreement, JEMM Restaurants, LLC will open four new restaurants by 2010.

Friendly's Chief Executive Officer and President, John L. Cutter, said, "We enjoy a rewarding partnership with JEMM Restaurants. Mike is committed to 100% guest satisfaction, 100% of the time and we look forward to his continued commitment to great guest service in his two additional restaurants."

Mike Steigerwald, stated, "We are very excited to be a part of two thriving communities and to continue to provide the guests at the Elyria and Sandusky restaurants with the great food and service that Friendly's is traditionally known for".

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 535 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 69-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).

For more information on Friendly's franchise program please contact Jim Sullivan, Manager of Franchise Sales at (800) 576-8088 ext. 2597 or at jim.sullivan@friendlys.com. Back to list