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VIE DE FRANCE CORPORATION REPORTS SECOND QUARTER RESULTS

 VIE DE FRANCE CORPORATION REPORTS SECOND QUARTER RESULTS
 MCLEAN, Va., Jan. 22 /PRNewswire/ -- Vie de France Corporation (NASDAQ-NMS: VDEF) today released the results for its second quarter of fiscal year 1992, which ended Dec. 14, 1991.
 For continuing operations for the quarter, the company's sales were $8,582,000 compared to $10,291,000 in the second quarter of the previous year. Net loss from continuing operations for the period was $329,000 (2 cents per share), compared to a loss of $6,336,000 (47 cents per share) for continuing operations in the second quarter of fiscal 1991, which included a $4.5 million provision for expenses related to the closure of restaurants. For the year to date, the company reported sales of $16,223,000 and a net loss of $739,000 (5 cents per share) as compared to sales of $20,645,000 and a net loss of $8,466,000 (64 cents per share) from continuing operations.
 Jean-Louis Vilgrain, chairman and chief executive officer, reported that the results were on target and that the loss for the quarter and year to date is primarily due to Culinary Division sous vide operations, while the Restaurant Division has produced profitable results for the quarter and year to date.
 Vilgrain noted that the significant achievement of the Restaurant Division in showing profit is the direct result of numerous changes instituted by management including reduced corporate overhead, new menus, new promotions and redesigned management incentive plans. The restructuring and closing of operations taken during the previous year considerably reduced fixed expenses in the remaining restaurants, which also had a material impact on current year restaurant operations and was the primary reason for the reduced sales. Vilgrain expressed optimism in the prospects for continued improvement in the Restaurant Division, especially in light of an increasingly positive trend in customer comments. The restructuring has positioned the restaurants to be able to maximize their results as the economy improves. He noted that sales for the Restaurant Division continued to trend below the previous year primarily due to the sale or closure of a total of 24 restaurant locations. Sales in continuing locations are rebounding and starting to increase over comparable periods.
 Interest income for the current year vs. significant interest expense in the previous year, together with significantly lower corporate overhead expenses continue to positively impact results.
 Vilgrain noted Culinary Division sales increased by 50 percent over previous year levels, while division losses shrank by 52 percent from the previous year to date. Increased productivity, better cost control as well as increased volume contributed to the reduction in the loss levels. Sous vide sales increased 46 percent over the first quarter of the current fiscal year and 311 percent year to date over the previous year to date. These increases were offset by the continued decline in fresh produce delivery as this business will be phased out for closure in the third quarter of fiscal 1992.
 Vilgrain further stated that he and the company remain optimistic about the sous vide operations. Several major national companies are considering the applicability of the sous vide product line in their operations. As the country's leading sous vide producer, Vie de France is ready to take advantage of volume opportunities and is continuing to develop and work closely with new customers. Taken together with the gains realized by the Restaurant Division, Vilgrain expressed his confidence in the future of the company.
 VIE DE FRANCE CORPORATION
 Results of Operations
 Second Quarter Ended
 Dec. 14, 1991 Dec. 15, 1990
 Sales
 Restaurant Division (retail) $ 7,024,612 $ 9,109,812
 Culinary Division & Other 1,623,697 1,181,381
 Total 8,648,309 10,291,193
 Less intersegment transfers (65,819) 0
 Net sales $ 8,582,490 $ 10,291,193
 Loss from operations $ (479,254) $ (6,032,409)
 Loss before taxes $ (329,489) $ (6,335,691)
 Net loss from continuing
 operations $ (329,489) $ (6,335,691)
 Net income from discontinued
 operations $ 0 $ 354,297
 Net loss $ (329,489) $ (5,981,394)
 Net loss from continuing
 operations per share $ (0.02) $ (0.47)
 Net income from discontinued
 operations per share 0.00 0.03
 Net loss per share $ (0.02) $ (0.44)
 Average shares outstanding 13,567,793 13,567,793
 Twenty-four Weeks Ended
 Dec. 14, 1991 Dec. 15, 1990
 Sales
 Restaurant Division (retail) $ 13,566,504 $ 18,786,493
 Culinary Division & Other 2,762,669 1,858,544
 Total 16,329,173 20,645,037
 Less intersegment transfers (106,438) 0
 Net sales $ 16,222,735 $ 20,645,037
 Loss from operations $ (1,108,769) $ (7,845,252)
 Loss before taxes $ (739,137) $ (8,466,346)
 Net loss from continuing
 operations $ (739,137) $ (8,466,346)
 Net income from discontinued
 operations 0 1,187,925
 Net loss $ (739,137) $ (7,278,421)
 Net loss from continuing
 operations per share $ (0.05) $ (0.64)
 Net income from discontinued
 operations per share 0.00 0.09
 Net loss per share $ (0.05) $ (0.55)
 Average shares outstanding 13,567,793 13,277,054
 -0- 1/22/92
 /CONTACT: Richard M. Tolbert of Vie de France, 703-442-9600/
 (VDEF) CO: Vie de France ST: Virginia IN: SU: ERN


DC -- DC020 -- 2346 01/22/92 13:14 EST
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Date:Jan 22, 1992
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