Frienly's Signs New Jersey Franchisee Georgetown Ventures LLC

Plans To Launch Friendly's Ice Cream Shop Concept

Wilbraham, Mass., May 13, 2011 -- Friendly Ice Cream Corporation announced today that Georgetowne Ventures, LLC of Freehold, New Jersey has become a franchisee of Friendly's restaurants. The company plans to build and operate two Friendly's Ice Cream Shops and two full-service restaurants in Monmouth County, NJ.

Georgetowne will launch the Friendly's Ice Cream Shop concept, a new format that will serve Friendly's signature ice cream desserts and trademark Fribbles, in 2011 in Jackson, NJ. Friendly's plans to roll out additional Ice Cream Shop locations in strip malls and lifestyle centers. The Ice Cream Shop will be branded as Friendly's Scoop as part of a pilot program in conjunction with a newly constructed, free-standing Burger King as part of a two tenant building.

Experienced restaurant operators, Georgetowne partners Joseph Anghelone and John Poloski, through their affiliate companies, employ more than 400 in New Jersey. The company has been recognized for its track record of strong performance and its commitment to quality, service and cleanliness.

"We are very pleased to partner with Georgetowne Ventures as we expand in New Jersey and prepare for the launch of our Friendly's Ice Cream Shop concept," said Friendly's Chairman and CEO Harsha V. Agadi. "With their years of experience and success as restaurant franchisees, we know that Joe and John will act as great stewards of the Friendly's brand."

Joseph D. Anghelone, Managing Owner of Georgetowne Ventures stated, "Our company is proud to join the family of Friendly's operators. They have served their customers faithfully with the finest products offered by this highly recognized brand with a heritage rich in consumer satisfaction and loyalty."?

About Friendly Ice Cream Corporation

Friendly Ice Cream Corporation is a vertically integrated restaurant company serving signature sandwiches, entrees and ice cream desserts in a friendly, family environment with system-wide sales of $700 million and distribution through more than 4,000 retail locations. With a 75-year operating history, Friendly's enjoys strong brand recognition and is currently revitalizing its restaurants and introducing new products to grow its customer base. For additional information please visit www.friendlys.com

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