CAPTAIN D’S WRAPS UP BIGGEST DEVELOPMENT YEAR IN A DECADE

As Captain D's closes its 2004 fiscal year, the seafood chain announced today that it just completed its most successful development year since 1994. In 2004, the company opened a total of 19 new locations, seven company-owned and 12 Franchise restaurants. That brings the chain's total unit count to 586.

"We are very pleased with the development we have had during our 2004 fiscal year. This type of growth really sends a charge of excitement throughout the entire system. The best news is that this is really the tip of the iceberg in terms of our development. We expect 2005 to be an even bigger year in new-unit growth as we break through the 600-unit milestone," says Ron Walker, president and chief operating officer for Captain D's.

In addition to its new store openings, Captain D's also signed 12 franchise development deals for a total of 36 units. Over the past two years, the chain has signed more development agreements than the previous 10 years combined.

"We've got a good story to tell right now, and combined with an underserved market out there for consumers who want to visit a quick-casual seafood restaurant, we are attracting the right kind of franchisees. We also continue to look for franchisees in new markets like Detroit, Cleveland, Pittsburgh, Chicago and Buffalo as a way to build new stores in the smartest way possible to fill that niche," adds Walker.

Captain D's currently has 11 new units under construction, one company-owned location and 10 franchise units.

Nearly all of the Captain D's locations opened in 2004 featured the company's prototype design, a new 2,400 square foot building, seating 70 people, that includes:

- The chain's fast-casual look which recreates the allure of a dockside seafood shack featuring naturally aged woods, hanging steel lights and a galvanized steel awning suspended over a portion of the dining room
- A smaller unit design that offers significant savings in land, building and equipment costs
- An open kitchen with T-Line operation that allows managers to observe the dining room and customers to see the freshness of the cooking process
- A Fast Track drive-thru timing system that in testing has improved the drive-thru times of Captain D's locations

About Captain D's

Captain D's Seafood is a pioneer and leader in the fast-casual dining category. The company offers its customers great seafood at reasonable prices in a relaxed environment that embodies the fun and romance of dockside seafood shacks. Each Captain D's Restaurant serves a seafood menu centered around the company's signature fried fish, which is hand-cut, hand-battered and made to order to ensure freshness. The restaurants also offer premium-quality baked or broiled fish, as well as shrimp, chicken and home-style side dishes. Headquartered in Nashville, Tenn., Captain D's owns, operates and Franchises 580 restaurants in 23 states. The first store was opened in Donelson, Tenn., in 1969 as Mr. D's. The company later changed its name to Captain D's and became Captain D's, Inc. in August 2000.