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GROUND ROUND RESTAURANTS, INC. REPORTS YEAR-END AND QUARTERLY INCREASES IN OPERATING RESULTS

 GROUND ROUND RESTAURANTS, INC. REPORTS YEAR-END
 AND QUARTERLY INCREASES IN OPERATING RESULTS
 BRAINTREE, Mass., Dec. 11 /PRNewswire/ -- Ground Round Restaurants, Inc. (AMEX: GRX) announced today a 22.4 percent increase in fiscal year income from its continuing operations for 1991. The company reported that income from continuing operations was $1,530,000, or 24 cents per share, on sales of $162,055,000 for the nine-month period ending Sept. 29, 1991. For the 12-month fiscal year ending Dec. 31, 1990, income from continued operations was $1,250,000, or 19 cents per share, on sales of $215,597,000. The difference in periods reflects a change in the company's audited fiscal year from calendar year in 1990 to a fiscal year ending Sept. 29, 1991. Comparable store sales for company- oriented Ground Round restaurants were up .5 percent for the nine-month period vs. the comparable 1990 nine-month period.
 For the quarter ended Sept. 29, 1991, income from continuing operations was $445,000, or 7 cents per share, on total sales of $54,961,000 vs. $97,000, or 1 cent per share, on sales of $54,167,000 for the prior year quarter. Total sales for the company-operated restaurants were up 1.8 percent vs. the same period last year, with comparable store sales up 1.4 percent.
 "Since the spin-off of our non-restaurant operations in September, allowing us to focus solely on our restaurant business, we have acquired two Ground Round restaurants, signed leases for three new restaurants and are in construction on two of those," said Michael P. O'Donnell, newly elected chairman of the board, president and chief executive officer. "We also are continuing our focus on areas such as improving overhead efficiencies, reducing operating costs and emphasizing training at all levels of the organization."
 After a loss from discontinued operations, including those operations divested in connection with the spin-off described above, and an extraordinary loss, Ground Round reported a net loss of $3,147,000, or 48 cents per share, for fiscal 1991 as compared with a net loss of $16,781,000, or $2.60 per share, for fiscal 1990.
 Ground Round Restaurants, Inc., through its wholly owned subsidiary, The Ground Round, Inc., operates 156 and franchises 43 casual, family- oriented, full-service restaurants under the tradename THE GROUND ROUND located primarily in the Northeast, Mid-Atlantic and Midwest regions of the United States.
 GROUND ROUND RESTAURANTS, INC. AND SUBSIDIARIES
 Consolidated Summary of Operations
 (In thousands except per share data)
 Three months Nine months 12 months
 ended ended ended
 9/29/91 9/29/90 9/29/91 12/31/90
 Net sales from
 continuing
 operations $54,961 $54,167 $162,055 $215,597
 Operating income
 from continuing
 operations 2,432 2,068 7,714 10,504
 Income from
 continuing
 operations after
 income taxes 445 97 1,530 1,250
 (Loss) from
 discontinued
 operations, net
 of income taxes (655) (4,855) (3,207) (18,031)
 Extraordinary
 (loss), net of
 income taxes (1,470) (1,470)
 Net (loss) (1,680) (4,758) (3,147) (16,781)
 Average shares
 outstanding 6,615 6,459 6,509 6,462
 Per share data:
 Income from
 continuing
 operations 7 cents 1 cent 24 cents 19 cents
 (Loss) from
 discontinued
 operations (10 cents) (75 cents) (49 cents) (2.79)
 Extraordinary
 (loss) (22 cents) (23 cents)
 Net loss per
 common share (25 cents) (74 cents) (48 cents) (2.60)
 -0- 12/11/91
 /CONTACT: Mary Conroy of Ground Round Restaurants, Inc., 617-380-3121/
 (GRX) CO: Ground Round Restaurants, Inc. ST: Massachusetts IN: LEI SU: ERN


DD-DH -- NE002 -- 1308 12/11/91 08:42 EST
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Date:Dec 11, 1991
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