Brazil Fast Food Reaches Agreement With Accor/Compass for Sao Paulo Bus Terminal Location; Bob's Will Be the Only Hamburger Fast Food Restaurant in New Food Pavilion.

Business Editors

RIO DE JANEIRO, Brazil--(BUSINESS WIRE)--Dec. 12, 2001

Brazil Fast Food Corp. (NASDAQ SmallCap: BOBS), the second largest fast food chain operator in Brazil, with 260 points of sale, today reported that it has reached an agreement with concession operator Select Service Partner (SSP), a brand of the groups Accor and Compass.

Under terms of the agreement, SSP will open a franchised Bob's restaurant in Sao Paulo's Tiete Bus Terminal. An estimated 30 million people pass through the terminal each year. Although SSP also plans to open a number of other franchises in the bus terminal, Bob's is the first one chosen by SSP and will be the only restaurant in the hamburger fast food category.

Following the example of other large transport terminals and airports around the world, SSP, in partnership with SOCICAM (the government-owned Technology and Transport Integration Services company), will bring the concept of a food pavilion in terminals to Brazil with the opening of the first Bob's store in the Tiete Terminal, slated for May 2002. The modernization of the Tiete Terminal, a R$5 million pioneer project in South America that began in October, should be completed in 18 months. Further plans to add a shopping center to the terminal are currently being considered.

In order to draw people to the terminal during the construction, the Tiete Bus Terminal has created an atmosphere of excitement and entertainment. Each Friday night, they feature concerts of Brazilian Popular Music on the cultural stage, located on the mezzanine of the new wing. Beside the stage are arts and crafts exhibits.

Peter van Voorst Vader, president and CEO of Brazil Fast Food, commented, "This is an exciting win for our Company. Select Service Partner has a huge presence in Brazil, as do Accor and Compass, the owners of this brand. Having a prime location in the Tiete Bus Terminal provides many benefits to our Company, including further increasing awareness of our brand by introducing travelers from all over Brazil, Chile, Paraguay, Argentina and Uruguay to Bob's. In June 2002 - one month after the scheduled opening of our Tiete Bus Terminal location - Brazil Fast Food will celebrate the 50th anniversary of the Bob's chain. A pioneer in Brazil's fast food market, Bob's will also become the first hamburger fast food chain to serve Brazil's burgeoning traveler market."

Mr. Vader continued, "This news is a great way to finish the year. By year end, we plan to have a total of 267 stores in operation, and we foresee opening approximately 50 new stores in 2002 in Brazil and in Portugal, where we recently opened our first store. We believe that this aggressive expansion in conjunction with effective marketing and strict cost control measures strategically position us to significantly benefit long term from the demand for quality fast food from Brazil's large, underserved population in all 23 states and five regions of the country."

About Select Service Partner

Select Service Partner (SSP), a leading concession operator in Brazil, is a brand of Accor and Compass. A world leader in travel, tourism and services, Accor has 3,600 hotels in 90 countries and serves 12 million people a day in 31 countries. Compass is one of the world's largest food service providers.

About Sao Paulo Tiete Bus Terminal

The 56,000 square meter Tiete Terminal in Sao Paulo serves some 30,000 arrival/departure travelers each day, and twice that number on holidays. Tickets for 320 bus lines traveling to 865 cities can be purchased 24 hours a day from 125 ticket booths located on the terminal's mezzanine level.

About Brazil Fast Food

Brazil Fast Food Corp. currently has 260 outlets in its "Bob's" chain. Brazil Fast Food Corp., through its wholly owned subsidiary, Venbo Comercio de Alimentos Ltda., a limited liability company, owns and operates (both directly and through franchisees) the second largest chain of hamburger fast food restaurants in Brazil. The Bob's chain celebrates its 50th anniversary in 2002.

This press release may contain certain forward-looking statements, which are subject to change. Actual results may differ from those described in any forward-looking statements. Additional information concerning potential factors that could affect the Company's financial results are included in the Company's Form 10-K for the year ended December 31, 2000, which has been filed with the Securities and Exchange Commission.