Boston Restaurant Associates, Inc. Announces First Quarter Results, a 52% Increase in Revenues to $4.8 Million, a 82% Increase in Operating Cash Flow to $505,708.

Business Editors

Boston Restaurant Associates, Inc. announced its results for the first quarter ending 7/30/000. Revenues increased 52% to $4,854,000 from $3,203.056 a year earlier. Operating cash flow, before depreciation, pre-opening expenses and interest expenses, increased 82% to $505,708 versus $277,364. Net income, reduced by depreciation ($226,624 vs. $154,323), pre-opening expenses ($105,033 vs. $126,586), and interest expense ($111,000 vs. $82,000) was $81,800 vs. a net loss of $69,800 a year earlier.

According to George R. Chapdelaine, President and CEO, "We are extremely pleased by the current quarterly results. We have shown that both our Regina and full service restaurant concepts are among the most exciting within the restaurant industry, provide a high return on investment for our Company, and improve shareholder value."

Mr. Chapdelaine went on to say, "We anticipate opening an addition full service restaurant in Woburn at the end of September and another in Hyannis at the end of November."

BOSTON RESTAURANT ASSOCIATES, INC. owns 13 Pizzeria Reginas and two Polcari's. In addition, the Company also franchises both Pizzeria Regina and Polcari's.

Statements about the company's future expectations, including future expansions, franchising, revenue and earnings, and all other statements in the press release other than historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time the Company's actual results could differ materially from expected results.