SZ Worldwide Restaurant Concepts

Worldwide Restaurant Concepts, Inc. Announces Completion of a Seven-Store Real Estate Sale-Leaseback Transaction SHERMAN OAKS, Calif., Feb. 15 /PRNewswire-FirstCall/ -- Worldwide Restaurant Concepts, Inc. (NYSE:SZ) today announced the completion of a seven-store sale-leaseback transaction. The Company sold the properties to, and then entered into leases with, CRICSTEAK, LP an investment partnership owned by CRIC Capital, LLC, located in Boston, Massachusetts. The properties have been, and will continue to be, operated as Sizzler(R) restaurants. The transaction, which was detailed on Form 8-K on February 10, 2005, generated approximately $16.1 million in proceeds for Worldwide Restaurant Concepts, of which $6.9 million was used to retire the debt originally secured by the properties. The transaction is a further step in the Company's on-going pursuit to increase shareholder value. In September 2004, the Company's announced the hiring of Houlihan Lokey Howard & Zukin, an investment banking firm, to review different strategies to optimize shareholder value. "The selling of these properties allows us to materially improve our balance sheet, and unlock a substantial amount of value that we can use in our efforts to build our brands and deliver value to our shareholders," said Chuck Boppell, Chief Executive Officer of Worldwide Restaurant Concepts. About Worldwide Restaurant Concepts Worldwide Restaurant Concepts, Inc. operates, franchises or joint ventures 307 Sizzler(R) restaurants worldwide, 112 KFC(R) restaurants located primarily in Queensland, Australia, and 22 Pat & Oscar's(R) restaurants. Additional information about the Company can be found at http://www.wrconcepts.com/. To the extent that certain statements contained in this document may be deemed under federal securities laws to be forward-looking statements, Worldwide Restaurant Concepts intends that they be subject to the safe-harbor applicable to forward-looking statements under such laws. For more information please contact: AT THE COMPANY: Keith Wall Vice President and CFO (818) 662-9800 Liz Baskerville Director, Planning (818) 662-9800 AT Financial Relations Board: Laurie Berman General Information (310) 854-8315 Tricia Ross Investor/Analyst Contact (617) 520-7064 DATASOURCE: Worldwide Restaurant Concepts, Inc. CONTACT: Keith Wall, Vice President and CFO, or Liz Baskerville, Director, Planning, both of Worldwide Restaurant Concepts, Inc., +1-818-662-9800; or General Information, Laurie Berman, +1-310-854-8315, or Investor/Analyst Contact, Tricia Ross, +1-617-520-7064, both of Financial Relations Board, for Worldwide Restaurant Concepts, Inc. Web site: http://www.wrconcepts.com/

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