Boston Restaurant Associates Announces Expansion Plans for Pizzeria Regina.

Business Editors

BOSTON--(BUSINESS WIRE)--Jan. 15, 2004

Boston Restaurant Associates announced today that it will open two new Pizzeria Regina's in Boston this spring. The first unit to open will be a Pizzeria Regina at the Prudential Center Food Court. This location will feature Regina's famous pizza, however this unit will also have an expanded Italian specialty menu to cater to the diverse customer base.

George Chapdelaine, CEO and president, stated: "This new Pizzeria Regina is an important part of our expansion plans. A location like Prudential provides a much broader customer base than a typical mall situation. Within minutes of this Food Court location at the "Shops at Prudential Center" you have thousands of shoppers, office workers, hotel guests, convention attendees and local residents. This type of customer mix provides a very consistent flow of customers at all hours of operation."

The next location to open will be at South Station. This location on the Grand Concourse will cater to a mix of office workers and commuters. "Since its major renovation in 1998 South Station has become a vibrant center of activity", said Chapdelaine, "With the completion of the "Big Dig" South Station is now easily accessible to thousands of workers. The South Station Pizzeria Regina will provide the full range of famous Regina Pizzas as well as specialty items to cater to the needs of commuters", continued Chapdelaine.

This will bring the total number of Pizzeria Regina's to fourteen including the original that opened on Thacher Street in Boston's North End in 1926. Pizzeria Regina also has five additional locations as part of the local Polcari's Italian American Restaurants.

"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995

Forward-looking statements in this release and referenced report, including without limitation statements relating to the adequacy of the Company's working capital and other resources, its ability to obtain additional financing, and the timing of any future expansion, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation: potential quarterly fluctuations in the Company's operating results; seasonality of sales; competition; risks associated with expansion; the Company's reliance on key employees; risks generally associated with the restaurant industry; risks associated with geographic concentration of the Company's restaurants; risks associated with serving alcoholic beverages; and other risks and uncertainties indicated from time to time in the Company's filings with the Securities and Exchange Commission.