Levy Restaurants

CHICAGO, October 24, 2003 -- Larry Levy has announced that Andy Lansing, President and Chief Operating Officer will become President and Chief Executive Officer effective January 1, 2004. Lansing, a 15-year veteran of the fast growing company, has been President since 1995. He takes over as CEO from founder Larry Levy who will remain as Chairman. Levy, who is the majority owner of the Company, will continue to set the vision and concentrate on developing new business opportunities including the expansion of its international portfolio in conjunction with Compass Group, Levy’s strategic partner and owner of the remaining interest. Larry Levy said, "Mentoring Andy Lansing has been one of the most fulfilling business joys of my life. It is no coincidence that our most explosive growth has happened under Andy’s leadership. He has the ability to inspire both qualitative and quantitative performances. Whether it’s his passion for ideas that enhance Levy guest experiences, or strategies that have allowed us to more than triple our revenues over the past eight years, Andy has his feet grounded in our restaurateur roots and has a strong vision for our future." Levy added, "Andy’s unique leadership style makes all of this happen while preserving the wonderful culture of Levy Restaurants for our 15,000 team members worldwide. The family values that were the foundation for Levy Restaurants 25 years ago are what make us special today. I know, with 100% certainty, that the Company and the Levy culture will continue to flourish with Andy and me working together as CEO and Chairman, respectively."

Lansing began his career with Levy Restaurants in 1988 as Vice President and General Counsel. He was promoted to Executive Vice President in 1991. In that position, Lansing directed and managed all corporate services groups, and actively recruited the industry’s top specialists. In 1995, Lansing was promoted to President and Chief Operating Officer with responsibilities for directing the three groups (Restaurants, Sports & Entertainment, and Consulting Services) within Levy Restaurants. Since assuming his role, Lansing has been responsible for overseeing the Company’s explosive, strategic growth from $120,000,000 to its anticipated $420,000,000 revenues in 2003. Andy Lansing said, "Larry has been an amazing mentor, friend and supporter over the last 15 years. When I joined Levy Restaurants, he shared his entrepreneurial vision, and then challenged me to help him grow Levy Restaurants in that light. As the management of the Company looks at where we are going, five, ten, even 25 years from now, Larry will continue to be our visionary and the forward-thinking guide who will inspire the growth of our Company and all of its team members, including me."