Blimpie International declares special dividend.

NEW YORK--(BUSINESS WIRE)--March 15, 1996--BLIMPIE International Inc. (NASDAQ NMS: BMPE) announced today that it has declared a special $.03 cash dividend payable on April 15, 1996 to shareholders of record on April 1, 1996.

This is the second cash dividend paid during fiscal year 1996 making the total for the fiscal year $.06. The first $.03 cash dividend was paid in October of 1995.

BLIMPIE International inc. is the franchisor of the nation's second leading submarine sandwich restaurant chain, with approximately 1,300 outlets operating in 44 states. Last year, the company made its initial foray into the international market by opening several outlets in Stockholm, Sweden. In 1995, the company was ranked by Nation's Restaurant News as the fastest growing quick-service restaurant chain in the country.

For more information, contact Robert Sitkoff at BLIMPIE International Inc. [phone], extension 11.

CONTACT: Kirshenbaum & Bond

Anthony Sanzio, 212/633-0080