Good Times' Frozen Custard Arrives in Grand Junction; Colorado Company Celebrates 15th Anniversary With Frozen Custard Flavor of the Month Program.

Business Editors

GOLDEN, Colo.--(BUSINESS WIRE)--Aug. 6, 2002

Good Times Burgers & Frozen Custard announced today that its ever-popular Frozen Custard treat has arrived in Grand Junction, Colorado.

The restaurant at 2301 North Avenue will soon have Custard lovers lined up to try the new treat. Good Times Restaurants, Inc., celebrating its 15th anniversary this year, announced in July 2001 the launch of this flavorful treat in conjunction with its strategic repositioning and all-new identity, taking the Good Times concept in an exciting new direction. Company executives rolled out Frozen Custard one restaurant at a time, bringing the popular Midwest concept to Colorado in such a strong manner that even the name of the restaurants changed from Good Times Drive-Thru Burgers to Good Times Burgers & Frozen Custard.

What is Frozen Custard? Imagine the best tasting ice cream ever...and go up from there. It's thicker, creamier, smoother and dreamier than regular ice cream, and with one taste you will never scream for ice cream again. This gourmet ice cream treat first originated in Coney Island, New York, as a carnival treat at the turn of the century. In the coming years, custard could be found in Atlantic City and other East Coast resort communities. Custard has become so popular that Milwaukee sells more Frozen Custard than anywhere else, and has become known as the "Custard Capital of the World."

"Frozen Custard is incredibly popular in other parts of the country," said Boyd Hoback, President and CEO of Good Times Restaurants, Inc. "We've brought Frozen Custard to Colorado as more than a product. It's a concept, a dessert and an experience that will attract people of all ages. We committed extensive resources to making sure that our Frozen Custard is an authentic product. To achieve this, we implemented an exhaustive nationwide search for the highest quality ingredients to ensure the best tasting Frozen Custard for our consumer."

Good Times has launched a Flavor of the Month program where restaurants have the proprietary vanilla frozen custard and will introduce a specialty flavor every month to keep Colorado custard fans coming back for more.

"We're celebrating the arrival of Frozen Custard to Grand Junction with our August Flavor of the Month -- Berry Berry, a rich, creamy combination of raspberries and strawberries," said Dan Romero, Grand Junction owner/operator and native of Grand Junction. "It's a delicious escape from our summer heat."

Good Times began its test market of Frozen Custard in Boulder in January 2001 and, due to such outstanding sales and customer feedback, chose to roll out the new concept in all its restaurants. Good Times teamed up with Denver's Morey Evans Advertising to develop and implement a powerful marketing campaign that has strategically repositioned the Good Times concept, trademark, signage, advertising and consumer appeal. The campaign has built upon the Good Times reputation for the best tasting burgers and fastest service with a brand new product unique to Good Times.

"We've taken the Good Times brand to an exciting new level with our Frozen Custard and new identity," said Hoback. "Our new identity has increased overall customer traffic, improved gross profit margins and appealed to a wider demographic base."

Frozen Custard is made fresh daily using Good Times proprietary Custard mix, which includes pure Madagascar Bourbon vanilla. You can eat plain vanilla in a cup, cone, Specialty Sundae or a Spoonbender. Frozen Custard choice of toppings include: M&M, Oreo Cookie, Butterfinger, Raspberry, Reese's, Heath Bar, Nuts, Hot Fudge, Butterscotch, Chocolate, Caramel and Strawberry. Good Times' Specialty Sundaes are: Turtle Sundae, Raspberry Avalanche, Hot Fudge Peak, Mud Pie and Strawberry Shortcake.

"Just as bagel lovers buy bagels from bagel stores, and donut lovers buy donuts from donut stores, Frozen Custard lovers are buying from authentic Frozen Custard shops," said Hoback. "And Good Times Burgers & Frozen Custard is now offering the best tasting, highest quality Frozen Custard available."

Good Times (Nasdaq:GTIM) began operating under the name of Good Times Drive Thru Burgers in 1987. To date, there are 35 Good Times locations in the Front Range and Denver metropolitan areas, one in Boise, Idaho, one in Grand Junction, Colorado, and one in Winter Park, Colorado. Good Times plans to open more than 55 Colorado locations in the next few years.

This press release contains forward-looking statements within the meaning of the federal securities laws. There are certain important factors that could cause actual results to differ materially from those anticipated by the statements made herein. Among the factors that could cause actual results to differ from predicted or expected results are: delays in opening new stores because of weather, local permitting or other reasons; increased competition; cost increases or shortages in raw food products; and the possibility of unforeseen events affecting the industry generally. The company undertakes no obligation to publicly release revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseen events, except as required to be reported under the rules and regulations of the Securities and Exchange Commission.