Pizza Inn Announces Multi-Unit Agreement in Guatemala; 16 New Locations to be Developed Within the First Five Years

Date Posted: 10/12/2006

THE COLONY, Texas, Oct 12, 2006 /PRNewswire-FirstCall via COMTEX/ -- Pizza Inn, Inc. today announced a multi-unit development agreement that will add a minimum of 16 new locations in Guatemala over the next five years. Pizza Inn, famous for its made from scratch crusts, has successfully transferred Master Licensee rights for Guatemala from Victor Passarelli to Oscar Fernando Tres of Productos y Servicios de Restaurantes S.A.

The group led by Mr. Tres owns and operates Sarita restaurants in Guatemala, best known for serving a variety of products and foods including breakfast and desserts. In business for nearly 60 years, family-owned Productos y Servicios de Restaurantes S.A. plans to operate pizza franchises in Guatemala City and other locations throughout the country.

"Pizza Inn is enthusiastic about our new relationship with an experienced operator like Productos y Servicios de Restaurantes S.A.," said Ward Olgreen, Senior Vice-President of International and Concept Development. "It's positive proof of our commitment to the strategic growth of our company around the world."

"This is an exciting time for our family and Pizza Inn. Our goal is to take the brand to new heights not only in Guatemala, but all of Central America," Oscar Tres added. "We're convinced our customers will love it in every city we go."

"We welcome Mr. Tres to the Pizza Inn family," said Tim Taft, President and CEO. "This development, coupled with the significant progress we are experiencing domestically, makes this a dynamic time for the company."

This news follows the chain's recent announcement regarding growth plans for the Middle East, primarily in Saudi Arabia and Qatar. Additional markets identified for growth include other Central and South American countries, Mexico, India, China and the Pacific Rim.

Pizza Inn, Inc. ( http://www.pizzainn.com ) is headquartered in The Colony, Texas, along with its restaurant services division, Norco Restaurant Services Company. Pizza Inn franchises approximately 368 restaurants and owns three restaurants with annual chain-wide sales of approximately $155 million.

SOURCE Pizza Inn, Inc.

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