Brazil Fast Food Acquires Pizza Hut's Largest Franchise in Brazil.

RIO DE JANEIRO, Brazil -- Brazil Fast Food Corp. (OTC Bulletin Board: BOBS.OB) ("Brazil Fast Food", or "the Company") the second largest fast-food restaurant chain with 630 points of sale, operating under the Bob's and KFC brands in Brazil, announced today that it has acquired 60% of Internacional Restaurantes do Brasil ("IRB"), Pizza Hut's largest franchise in Brazil.

IRB owns 14 Pizza Hut restaurants in Sao Paulo and 4 cafe stores with the brand "In Boca al Lupo" also acquired by Brazil Fast Food. IRB recorded annual revenue of around R$ 50.0 million, EBITDA of R$ 3.65 million and net profit of R$ 1.14 million in 2007. This transaction is expected to increase Brazil Fast Food consolidated revenue by 20% in 2008 and 40 to 50% in 2009 relative to 2007.

Brasil Fast Food will retain a 60% stake with the remaining 40% to be owned by POGO Participacoes, a company controlled by Jorge Aguirre who has been for many years the CEO of IRB. Mr. Aguirre will remain in charge of IRB and has as a partner in POGO a Brazilian financial company, ROSENBERG & PARTNERS.

"This transaction is an important milestone in the execution of our strategy to become a leading multi-brand fast food chain in Brazil. In addition to being a good fit with our existing brands, it positions the company well to take advantage of the casual dining opportunity targeting more affluent segments of the population," said Mr. Ricardo Bomeny, CEO of Brazil Fast Food. "We are also very pleased to welcome Jorge Aguirre to our team. Mr. Aguirre has been responsible for the excellent performance of the Pizza Hut franchise in Brazil in recent years and we are glad that with his proven experience and leadership skills he will continue to make a valuable contribution to the success of our business."

KPMG conducted due diligence that identified the need to write-off R$ 4.6 million in assets to shareholder equity but which will not impact Brazil Fast Food consolidated results for 2008. The transaction was closed yesterday but the closing balance sheets were established as of July 31, 2008.

About Brazil Fast Food.

Brazil Fast Food Corp. owns and operates, both directly or through franchisees, the second largest fast-food restaurant chain in Brazil. The Bob's trade name is used by Venbo Comercio de Alimentos Ltda., a subsidiary of Brazil /Fast Food holding company, BFFC do Brasil Participacoes Ltda (formerly 22N Participacoes Ltda.). The "KFC" trade name is used by CFK Comercio de Alimentos Ltda. (formerly Clematis Industria e Comercio de alimentos e Participacoes Ltda.), also a holding company subsidiary. As of Mar. 31, 2008, the Company had 598 points of sale, which includes traditional restaurants, kiosks and re-locatable trailers.

Safe Harbor Statement

This press release contains forward-looking statements within the meanings of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known or unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, such factors as the integration of acquisitions within the Company's existing operations, the Company's ability to successfully make additional acquisitions, fluctuations in demand, the Company's ability to maintain customer and vendor relationships, impact of competitive environment on pricing, growth in targeted markets, impact of government regulation on the profitability of the Company's operations,, and other information detailed from time to time in the Company's filings with the United States Securities and Exchange Commission. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see the disclosures in the Company's filings with the Securities and Exchange Commission, including the risk factors contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2007, filed with the Securities and Exchange Commission on March 31, 2008.