TAM Restaurants, Inc. Announces Changes to Board.

Business Editors

NEW YORK--(BUSINESS WIRE)--Oct. 22, 2001

TAM Restaurants, Inc. (OTCBB: TAMR) announced today that the Board of Directors has accepted the resignations of Luke Johnson, Ken Harris, Jeanne Cretella, and Frank Cretella as members of the Board of Directors of the Company. The Board has also accepted the official resignations of Mr. Cretella as CEO of the Company and Mr. Harris as Chairman of the Board.

TAM also announced that Anthony Golio has been named Chief Executive Officer and Chairman of the Board of Directors, and continues in his capacity as CFO.

Anthony Golio, TAM's President and CEO, commented "Unfortunately, given economic conditions and recent tragic events, several members of the Board are unable to continue to serve the Company. We hope to add two new members to the board of directors in the near future who can assist the Company in achieving its return to profitability and growth. We look forward to the continued growth of Lundy Bros. in Times Square, especially with the recent grand opening on Broadway of Mama Mia."

Certain statements in this press release constitute "forward-looking statements" with the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, risks relating to the Company's ability to negotiate new leases, the opening of new restaurants, the Company's capital requirements, availability of financing, continued popularity of existing and new restaurants, seasonality and other risks detailed in the Company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.

TAM Restaurants, Inc. operates Lundy Bros. Restaurant in Brooklyn, NY; Lundy Bros. Restaurant in Times Square Manhattan; and American Park at the Battery in New York's Historic Battery Park. TAM is a public company traded on the OTCBB market under the symbol TAMR.

For further information or to arrange an interview please contact Anthony B. Golio, President at 718-273-2532 ext 12.