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New stores drive 2Q comps, revenue at Chicago Pizza & Brewery

July 29, 2003

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HUNTINGTON BEACH, Calif.-- New restaurant openings and small same-store sales increases pushed Chicago Pizza and Brewery's revenues up 38.9 percent to $25.4 million for the second quarter of 2003, ended June 29. In the comparable quarter last year, revenues were $18.3 million.

Six new restaurants were opened in the period, and same-store sales (based on restaurants opened more than 18 months) rose 2.1 percent.

Net income for the period was $1.1 million (5 cents per diluted share), compared with $910,000 (5 cents per diluted share) in the second quarter of 2002.

For the first half of the year, revenues increased to $49.2 million, up from $35.7 million in the comparable period last year.