Advantica Announces First Quarter 2002 Conference Call.

Business Editors

SPARTANBURG, S.C.--(BUSINESS WIRE)--April 23, 2002

Advantica Restaurant Group, Inc. (OTCBB: DINE) announced today that its quarterly conference call for investors and analysts will take place on Wednesday May 1, 2002 at 1:00 p.m. EST.

During this call Advantica will review the Company's financial and operating results for the first quarter ended March 27, 2002. These results will be released the morning of the call, before the market opens.

Investors and interested parties are invited to listen to a live, listen only broadcast of the Advantica conference call. The call may be accessed through the Company's website at www.advantica-dine.com. From the main page follow the link to "Investor Info" and then click the "Webcast" icon. A replay of the call may be accessed at the same location later in the day and will remain available for at least 30 days.

Advantica Restaurant Group, Inc. is one of the largest restaurant companies in the United States, operating over 2,300 moderately priced restaurants in the mid-scale dining segment. Advantica owns and operates the Denny's, Coco's and Carrows restaurant brands. FRD Acquisition Co., the parent company of Coco's and Carrows and a wholly owned subsidiary of Advantica, is classified as a discontinued operation for financial reporting purposes and is currently under the protection of Chapter 11 of the United States Bankruptcy Code effective as of February 14, 2001. For further information on the Company, including news releases, links to SEC filings and other financial information, please visit Advantica's website.

Certain matters discussed in this release may constitute forward looking statements involving risks, uncertainties, and other factors that may cause the actual performance of Advantica Restaurant Group, Inc., its subsidiaries and underlying concepts to be materially different from the performance indicated or implied by such statements. Factors that could cause actual performance to differ materially from the performance indicated by such statements include, among others: the outcome of FRD's pending Chapter 11 proceedings, divestiture efforts and related matters; the competitive pressures from within the restaurant industry; the level of success of the Company's operating initiatives and advertising and promotional efforts; changes in business strategy or development plans; terms and availability of capital; regional weather conditions; overall changes in the general economy, particularly at the retail level; and other factors from time to time set forth in the Company's SEC reports, including but not limited to the discussion in Management's Discussion and Analysis and the risks identified in Exhibit 99 contained in the Company's Annual Report on Form 10-K for the year ended December 26, 2001.