Bridgford Foods Corp. Earnings for 1998 Shatter Prior Records by 32 Percent.

ANAHEIM, Calif.--(BUSINESS WIRE)--Dec. 16, 1998--Bridgford Foods Corp. (Nasdaq:BRID) Wednesday announced the highest earnings in the company's 66 year history.

Net income for the 52 weeks ended Oct. 30, 1998 was $8,720,000, a 32 percent gain over the prior record set last year. Sales for the year also reached a record high of $134,816,000, a 5 percent gain over the record sales achieved in 1997. This reflects the 13th consecutive year that Bridgford Foods has achieved record high sales.

Sales for the fourth quarter of the 1998 fiscal year were $35,215,000, a 2 percent gain over the same period in 1997. Net income for the same quarter in 1998 increased 20 percent over 1997 to $2,631,000.

Bridgford Foods noted that advantageous commodity costs, improved operating efficiencies and cost control programs were primarily responsible for the improved operating results.

In November 1998, Bridgford Foods announced a second consecutive annual 10 percent stock dividend and a corresponding 10 percent increase in cash dividends to be distributed Jan. 4, 1999.

Bridgford Foods Corp., a producer of frozen bread dough, microwaveable sandwiches, processed meats, dry sausages and other convenience food products, will have 11,370,000 shares outstanding after issuance of the 10 percent stock dividend declared Nov. 16, 1998.

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                                   BRIDGFORD FOODS CORP.
                                   FINANCIAL HIGHLIGHTS

                               13 Weeks Ended          13 Weeks Ended
                             October 30, 1998        October 31, 1997
                               --------------          --------------
Sales                             $35,214,678             $34,394,388
Income Before Taxes               $ 4,243,529             $ 3,548,054
Net Income                        $ 2,630,529             $ 2,199,054
Basic Earnings Per Share (a)         23 cents                19 cents
Avg. Shares Outstanding (a)        11,370,000              11,370,000


                               52 Weeks Ended          52 Weeks Ended
                             October 30, 1998        October 31, 1997
                               --------------          --------------
Sales                            $134,815,787            $127,859,491
Income Before Taxes              $ 14,065,430            $ 10,654,354
Net Income                       $  8,720,430            $  6,605,354
Basic Earnings Per Share (a)         77 cents                58 cents
Avg. Shares Outstanding (a)        11,370,000              11,370,000

(a) After giving retroactive effect for a 10 percent stock dividend
declared on Nov. 16, 1998.