Industry News | May 5, 2000

Jerry's Famous Continues Nasdaq Listing

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Jerry's Famous Deli Inc. (Nasdaq:DELI) announced that based upon successfully meeting the conditions it has been informed by Nasdaq that effective Tuesday, Feb. 29, 2000, the Company's trading symbol will be changed from DELDC back to DELI. The Company's shares will continue to trade on the Nasdaq Small Cap Market under the symbol "DELI". JFD expects to announce its 1999 earnings results shortly.

No assurance can be given that the Company's plan will avoid de-listing from the Nasdaq Stock Market. Statements made herein that are not historical facts are forward-looking statements.

Important factors that could cause the company's actual results to differ materially from those projected in, or inferred by, forward-looking statements are (but are not necessarily limited to) the following: the impact of increasing competition in the moderately priced, casual dining segment of the restaurant industry; changes in general economic conditions that impact consumer spending for restaurant occasions; weather and acts of nature that impact restaurant sales; adverse publicity; availability and cost of labor; governmental and regulatory problems that impact operations of restaurants such as health-code enforcement changes, land-use regulations and pollution controls; unforeseen events that increase the cost to develop and/or delay the development and opening of new restaurants and markets; the amount and rate of growth of general and administrative expenses associated with building a strengthened corporate infrastructure to support the development and operation of new restaurants; the availability, amount, type and cost of financing for the company and any changes to that financing; the revaluation of any of the company's assets (and related expenses); and any changes to tax rates.

Reference is made to the company's Annual Report on Form 10-K for the year ended Dec. 31, 1998, for a further discussion of these and other risk factors, and to Form 10-Q filed on May 12, 1999, Aug. 13, 1999, and Nov. 15, 1999.