Chicago Pizza & Brewery Inc. Reports a 24.1% Increase in Revenues and a $199,000 Profit for the Second Quarter of 2000.

    Business Editors

      MISSION VIEJO, Calif.--(BUSINESS WIRE)--Aug. 10, 2000--Chicago
Pizza & Brewery Inc. (Nasdaq:CHGO)(Nasdaq:CHGOW) released results for
the second quarter ended June 30, 2000.
      Revenues totaled $12,347,000 for the second quarter of 2000, an
increase of 24.1% as compared with the same period in 1999.
Contributing to the increase in revenues was an increase in same store
sales of 9.0% at the restaurants operated as BJ's for all of both
periods.
      Also contributing to the increase in revenues was the opening of
restaurants in Woodland Hills, Calif. in April 1999, La Mesa, Calif.
in November 1999 and Valencia, Calif. at the end of March 2000.
Revenues at the restaurants operated as Pietro's for all of both
periods decreased 4.1%.
      The company reported net income of $199,000 for the second quarter
of 2000 as compared with net income of $344,000 for 1999. The decrease
in net income was primarily due to increases in preopening costs and
general and administrative expenses. Preopening costs increased to
$312,000 for the second quarter of 2000 as compared with $127,000 for
the second quarter of 1999.
      The preopening costs for the second quarter of 2000 related to the
Burbank, Calif. restaurant which opened on June 30, 2000 and the West
Covina, Calif. restaurant due to open later this month. General and
administrative expenses increased to $1,024,000 for the second quarter
of 2000 from $752,000 for the comparable period of 1999.
      Per Jerry Hennessy, co-CEO, "Since November 1999 we have added, on
an annualized basis, around $13 million in revenue, with the potential
of adding an additional $8 million or more during the remainder of
this year from the two additional restaurants scheduled to open.
      "The increase in general and administrative expenses reflects the
utilization of significantly greater resources in recruiting,
training, new store development and supervision. While we are aware of
the short-term impact on earnings of these additional resources, we
feel that the operationally successful growth of the BJ's concept
will, in the long run, make these investments very prudent."
      Cash flow at the store level (revenues less food cost, labor cost,
occupancy and operating expenses) increased 21.2%, to $2,253,000 in
the second quarter of 2000 from $1,859,000 for the comparable period
of 1999.
      Per Paul Motenko, co-CEO, "Our two newest restaurants, in
Valencia, California and Burbank, California, have been among the
company's most successful openings. Since its opening in late March
2000, the 7,000 square foot Valencia restaurant has averaged weekly
revenues of $111,000. Since its opening at the end of June, the 11,000
square foot Burbank restaurant has averaged weekly sales of $102,000.
      "While these revenue numbers may not be sustained as the
restaurants mature, we are very pleased with the reception BJ's has
received in each of these communities.
      "We are optimistically looking towards the opening of our 12,000
square foot restaurant and brewery in West Covina, California, later
this month and our 8,000 square foot restaurant in Huntington Beach,
California, which is scheduled to open this fall."
      Revenues for the six months ended June 30, 2000 increased 24.9%,
to $22,525,000 from $18,040,000 for the first six months of 1999. Net
income for the first six months of 2000 increased to $372,000 from
$230,000 for the comparable period in 1999.
      Chicago Pizza & Brewery operates 28 casual dining restaurants,
some of which incorporate brewpubs. Thirteen of the restaurants are
located in Southern California, one is located in Lahaina, Maui and
one is located in Boulder, Colo. In addition, the company operates six
BJ's restaurants and seven Pietro's restaurants in Oregon.
      BJ's restaurants offer customers moderate prices and tremendous
value on an incredible menu that includes deep-dish Chicago-style
pizza as well as sandwiches, salads, fabulous desserts, critically
acclaimed hand-crafted beers and more. Visit Chicago Pizza & Brewery,
Inc. on the Web at http://www.bjsbrewhouse.com.

      The information presented herein contains certain forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933, as amended, which are intended to be covered by the safe harbors
created thereby. The company's results may differ significantly from
the results indicated by such forward-looking statements. Factors that
might cause such differences include, but are not limited to: (i) the
company's ability to manage growth and conversions, (ii) construction
delays, (iii) restaurant and brewery industry competition and other
such industry considerations, (iv) marketing and other limitations
based on the company's historic concentration in Southern California
and current concentration in the Northwest, (v) consumer trends, (vi)
increased food costs and wages, including, without limitation, the
recent increase in the minimum wage, and (vii) other general economic
and regulatory conditions.
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*T

Chicago Pizza & Brewery Inc.
Consolidated Financial Data - Unaudited
(in thousands, except per share data)

                          For the Three Months      For the Six Months
                              Ended June 30,           Ended June 30,
                          2000          1999        2000          1999

Statement of Operations
 Data:

Revenues               $12,347        $9,947     $22,525       $18,040
Cost of sales            3,402         2,790       6,204         5,015
 Gross profit            8,945         7,157      16,321        13,025

Costs and expenses:
Labor and benefits       4,412         3,530       8,100         6,508
Occupancy                  993           751       1,827         1,460
Operating expenses       1,287         1,017       2,394         1,924
Preopening costs           312           127         458           322
General and
 administrative          1,025           752       1,937         1,416
Depreciation and
 amortization              462           389         888           744
Restaurant Closing
 Expense                   114           169         114           169

Total cost and expenses  8,605         6,735      15,718        12,543

 Income from operations    340           422         603           482

Other income (expense):
Interest expense, net      (98)          (66)       (173)         (123)
Other expense, net          (1)            7          (2)            8
 Total other expense       (99)          (59)       (175)         (115)
 Income before minority
  interest, income taxes
  and change in accounting 241           363         428           367

Minority interest in
 partnership               (20)          (10)        (27)          (20)

 Income before income
  taxes and change in
  accounting               221           353         401           347

Income tax expense         (22)           (9)        (29)          (11)

 Income before change in
  accounting               199           344         372           336

Cumulative effect of change
 in accounting                                                    (106)

 Net income               $199          $344        $372          $230

Basic and dilutive net
 income (loss) per share:
 Income before change in
 accounting              $0.03         $0.04      $0.05          $0.05
Cumulative effect of
 change in accounting                                           ($0.02)

 Net income (loss) per
  common share           $0.03         $0.04      $0.05          $0.03

                                 June 30, 2000      December 31, 1999

Balance Sheet Data (end of period):

Cash                                      $648                   $189

Total assets                           $23,725                $19,144

Total long-term debt (including
 current portion)                       $4,907                 $2,861

Shareholders' equity                   $13,471                $13,099

    --30--EZ/np*  AKF/np

    CONTACT:  Chicago Pizza & Brewery Inc., Mission Viejo
              Paul Motenko, 949/367-8616

    KEYWORD:  CALIFORNIA
    INDUSTRY KEYWORD: RESTAURANTS EARNINGS