Champps Entertainment, Inc. Announces the Acquisition of Two Franchised Restaurants.

Business Editors

ENGLEWOOD, Colo.--(BUSINESS WIRE)--June 29, 2000

Champps Entertainment, Inc. (Nasdaq:CMPP) announced today the acquisition of two franchised Champps Americana restaurants located in Minnetonka, Minnesota and Eden Prairie, Minnesota. The franchised locations were owned or controlled by Dean Vlahos, a former executive and director of the Company. The purchase price for each of the restaurants was $5,675,000. The purchases were financed in part by proceeds from loans totaling $9,500,000 from FINOVA Capital Corporation.

The Minnetonka Champps, which opened in 1990, had sales of approximately $6,650,000 over the past twelve months. The Eden Prairie Champps, which opened May of 1999, had sales of approximately $6,550,000 over the past twelve months.

William H. Baumhauer, the Company's CEO stated, "We are pleased to announce the purchase of two high volume Champps Americana restaurants in the Minneapolis-St. Paul market. These acquisitions fit precisely within our growth strategy of adding Champps restaurants in markets where we are currently operating. Coupled with the successful opening of our third Champps restaurant in the Detroit market in West Bloomfield, Michigan on Monday, June 26, 2000, we will enter our new fiscal year beginning July 3, 2000 with 24 Company owned and operated Champps restaurants."

Champps currently owns and operates 24 Champps Americana restaurants and franchises 12 Champps Americana restaurants in select markets throughout the United States. Champps is an upscale casual dining restaurant that offers a broad menu consisting of freshly prepared food coupled with exceptional service in a visually exciting environment.

Statements made in this press release include forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements including; the Company's ability to manage within acceptable parameters contingencies associated with its former businesses including Fuddruckers and its former foodservice and Great Bagel & Coffee Co., businesses; the effectiveness of initiatives to lower selling, general and administrative expenses and to improve operations within Champps, and the Company's ability to open new restaurants consistent with its plans. Information on significant potential risks and uncertainties that may cause such differences include, but are not limited to, those mentioned by the Company from time to time in its filings with the Securities and Exchange Commission. The words "believe", "estimate", "expect", "intend", "anticipate", "should" and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and, therefore, readers should not place undue reliance on these forward-looking statements.