Champps Entertainment, Inc. Reports Record Fiscal 2001 First-Quarter Results.

Business Editors/Restaurant & Food Writers

ENGLEWOOD, Colo.--(BUSINESS WIRE)--Oct. 30, 2000

Champps Entertainment, Inc.(Nasdaq:CMPP):

-- Total Revenues up 28.9 percent to $33.1 million

-- Restaurant operating contribution up 228.8 percent to $3,686,000

-- Net income for the first quarter increased to $1,698,000, or $0.14 per share


-- Earnings per share for the first nine months of calendar 2000 at $0.40 per
share

Champps Entertainment, Inc.(Nasdaq:CMPP), announced today record results for the first quarter of fiscal 2001, ended October 1, 2000.

Total revenues reached a record $33,083,000, a 28.9 percent increase from the $25,672,000 reported for the first quarter of last year. Net income for the first quarter was $1,698,000, or $0.15 per basic share and $0.14 per fully diluted share, as compared with a net loss of ($1,121,000), or ($0.10) per basic and diluted share, for the first quarter of last fiscal year.

Highlights for the first quarter include:

-- Comparable sales increased 1.8 percent over the first quarter

of last fiscal year increase of 5.1 percent.

-- Restaurant operating contribution increased 228.8 percent to

$3,686,000 as compared with $1,121,000 in the first quarter of

last fiscal year.

-- General and Administrative expenses were $1,759,000, or 5.3

percent of revenues, compared to $1,798,000, or 7.0 percent of

revenues, in the first quarter of last fiscal year.

-- Opened the second Champps restaurant in the Dallas market on

July 24, 2000, in Las Colinas, Texas.

William H. Baumhauer, chairman, president and chief executive officer, commented on the first quarter results: "We are very pleased with the positive results realized this quarter which historically has been our weakest quarter of the year. Strong revenue growth coupled with operating margin improvement of 680 basis points over the first quarter of fiscal 2000 has resulted in record results for the Company. Throughout the balance of this fiscal year, we anticipate continued seasonal improvement in both average restaurant sales and overall operating margins. All facets of our business are performing at very acceptable levels allowing us to take advantage of the significant opportunities available to us to expand our concept aggressively and profitability."

Champps Entertainment, Inc. currently owns and operates 25 Champps Americana restaurants and franchises 13 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. Additionally, Champps creates an exciting environment through the use of audiovisual techniques and several large screen televisions.

Champps Entertainment management will host an investment community conference call on Tuesday, October 31, 2000, at 10 a.m. Eastern Standard Time to discuss first-quarter fiscal 2001 results. To hear the call in a listen-only mode, participants must dial 800/633-8680 and refer to reservation No. 16765944, five minutes prior to the start of the call, or visit the company's web site at www.champps.com and click on the investor relations icon to hear a live web simulcast and replay of the call.

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. 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.

                      CHAMPPS ENTERTAINMENT, INC.
                 CONSOLIDATED STATEMENTS OF OPERATIONS
             (Dollars in thousands, except per share data)

                                          Three Months Ended
                                     October 1,        October 3,
                                       2000              1999
                                     ---------         ----------
Revenues:
  Sales                              $  32,910         $   25,489
  Franchising and royalty, net             173                183
                                     ---------         ----------
  Total revenues                     $  33,083         $   25,672
                                     ---------         ----------

Costs and expenses:
Restaurant operating expenses:
  Product costs                          9,521              7,517
  Labor costs                           10,633              8,697
  Other operating expenses               4,802              4,064
  Occupancy                              2,637              2,298
  Preopening                               243                711
  Depreciation and amortization          1,388              1,081
                                     ---------         ----------
    Total restaurant operating
    expenses                            29,224             24,368
General and administrative expenses      1,759              1,798
Exit and other costs                         -                460
                                     ---------         ----------
Total costs and expenses                30,983             26,626
                                     ---------         ----------
Income (loss) from operations            2,100               (954)
Other expense, net                         312                167
                                     ---------         ----------
  Net income (loss) before taxes         1,788             (1,121)
Provision for income taxes                  90                  -
                                     ---------         ----------
  Net income (loss) after taxes      $   1,698         $   (1,121)
                                     =========         ==========

Basic income (loss) per share:       $    0.15         $    (0.10)
                                     =========         ==========
Diluted income (loss) per share:     $    0.14         $    (0.10)
                                     =========         ==========
Basic weighted average shares
 outstanding                            11,681             11,651

Diluted weighted average shares
 outstanding                            11,981             11,651


            Supplemental Information -- Operating Expenses
                   (Stated as a percentage of sales)

    Product costs                         28.9%              29.5%
    Labor costs                           32.3%              34.1%
    Other operating costs                 14.6%              15.9%
    Occupancy                              8.0%               9.0%
    Preopening                             0.7%               2.8%
    Depreciation and amortization          4.3%               4.3%
                                     ----------         ----------
      Total restaurant operating
       expenses                           88.8%              95.6%
                                     ----------         ----------
    General and administrative
      expenses                             5.3%               7.0%
                                     ----------         ----------
(Stated as a percentage of revenues)