SZ Worldwide Restaurant Concepts

Worldwide Restaurant Concepts, Inc. Announces Delay in Filing 10-Q and Rescheduling of Preliminary Earnings Release and Investor Conference Call SHERMAN OAKS, Calif., March 21 /PRNewswire-FirstCall/ -- Worldwide Restaurant Concepts, Inc. (NYSE:SZ) today announced that it would delay the filing of its third quarter 10-Q, for the quarter ending February 6, 2005, due to its on-going review of lease accounting procedures. As such, the Company today filed a Form 12b-25 with the Securities and Exchange Commission indicating this delay. The Company, with its independent auditors and in consultation with its audit committee, is thoroughly assessing its lease accounting and amortization practices, in light of the recent restatements made by many other restaurant and retail companies under various items of authoritative accounting literature. The Company has not yet made a final determination as to whether any adjustments will be made as a cumulative adjustment in the third quarter of fiscal year 2005 or as a restatement of historical financial statements, although the Company does not expect any such adjustments to impact the amount of revenues or cash balances previously reported. Preliminary financial results for the third quarter of fiscal 2005 will be released over the news wires before the market opens on Thursday, March 24, 2005 and the Company will hold its investor conference call on Thursday, March 24, 2005 at 8:00 AM PT / 11:00 AM ET. The call will feature Charles Boppell, President and CEO of the Company, and Keith Wall, CFO, in a discussion of preliminary fiscal 2005 third quarter financial results and operating developments. The public will have the opportunity to listen to the live conference call by dialing 877-810-6712 (706-643-1972 for international callers) or via the Internet through the Company's Web site at http://www.wrconcepts.com/ or through http://www.fulldisclosure.com/. For those who cannot listen to the live broadcast, a replay of the webcast will be available shortly after the call. About Worldwide Restaurant Concepts Worldwide Restaurant Concepts, Inc. operates, franchises or joint ventures 309 Sizzler(R) restaurants worldwide, 112 KFC(R) restaurants primarily located in Queensland, Australia, and 22 Pat & Oscar's(R) restaurants. 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. AT THE COMPANY: Keith Wall Liz Baskerville Vice President and CFO Director, Planning (818) 662-9800 (818) 662-9800 AT FINANCIAL RELATIONS BOARD: Laurie Berman Tricia Ross General Information Investor/Analyst Contact (310) 854-8315 (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, 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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