O'Charley's Signs 50-Store Franchise Agreement with Covelli Enterprises;

O'Charley's Inc. (NASDAQ/NM:CHUX), a leading casual dining restaurant company, announced today the signing of a franchise agreement with Covelli Enterprises to develop and operate up to 50 O'Charley's restaurants in the states of Florida, Ohio, Pennsylvania and West Virginia. With this announcement, the Company has extended its franchising agreements to a total of 11 states, and has more than doubled its expected franchise development.

Covelli Enterprises, one of the largest U.S. franchisees of Panera Bread Bakery-Cafes, plans to open its first O'Charley's restaurants in 2006. Initial development plans will focus on the Tampa, Orlando, Pittsburgh, and Cleveland markets. Other territories for expansion by the group include northwest Ohio, central Pennsylvania, and northern West Virginia. A minimum of eight O'Charley's restaurants are expected to open by 2007.

Restaurant industry veteran Sam Covelli first achieved success as one of the largest McDonald's franchisees worldwide, operating 43 units. In 1998, following the sale of those units, Mr. Covelli opened his first Panera Bread location, and the Covelli family currently owns and operates over 100 cafes throughout Ohio, Pennsylvania, West Virginia, and Florida.

Zeb Hastings, vice president of franchising for O'Charley's Inc. stated, "This represents significant progress for the O'Charley's franchising program and we are excited to welcome Sam Covelli and his team into the O'Charley's family. The addition of one of the top franchise operators in the country, with over 30 years of experience and a strong track record, clearly demonstrates O'Charley's ability to identify and attract the most experienced and qualified franchisees in the business. This agreement also expands the O'Charley's brand into new markets, adds depth in key states, and continues our momentum to build a national platform for the O'Charley's concept."

Mr. Covelli stated, "Few casual dining concepts offer franchisees the positioning and level of support that O'Charley's provides. This agreement allows us to develop a leading casual dining concept in exclusive territories. We reviewed a number of different concepts and found the O'Charley's opportunity to be the most compelling."

Covelli Enterprises is the fifth franchisee for O'Charley's and joins Meritage Hospitality Group, Inc. of Michigan, JFC Enterprises, LLC of Louisiana, Wi-Tenn Restaurants, LLC of Wisconsin, and Four Star Restaurant Group of Iowa, Nebraska, Kansas, and South Dakota. JFC Enterprises and Wi-Tenn Restaurants are joint ventures in which the Company has an ownership interest. Since announcing its franchise program, the Company continues to be successful in its efforts to broaden the geographic reach of the O'Charley's brand.

O'Charley's Inc. operates 224 company-owned O'Charley's restaurants in 16 states in the Southeast and Midwest, and has three franchised O'Charley's restaurants in Michigan and one joint venture O'Charley's restaurant in Louisiana. The menu, with an emphasis on fresh preparation, features several specialty items such as hand-cut and aged steaks, a variety of seafood and chicken, freshly baked yeast rolls, fresh-cut salads with special-recipe salad dressings and signature caramel pie. The Company also operates Ninety Nine Restaurant & Pub restaurants in 101 locations throughout Connecticut, Maine, Massachusetts, New Hampshire, New York, Rhode Island and Vermont. Ninety Nine has earned a strong reputation for providing generous portions of high-quality food at moderate prices in a comfortable, relaxed atmosphere. The menu features a wide selection of appetizers, salads, sandwiches, burgers, entrees and desserts. In addition, the Company operates six Stoney River Legendary Steaks restaurants in Georgia, Illinois, Kentucky and Tennessee. The dinner-only steakhouse concept appeals to both upscale casual dining and fine dining customers by offering high-quality food and attentive customer service typical of high-end steakhouses at more moderate prices.

This press release and statements made by or on behalf of the Company relating hereto may be deemed to constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be affected by certain risks and uncertainties, including, but not limited to, the Company's ability to successfully implement its franchising initiative and the other risks described in the Company's filings with the Securities and Exchange Commission. In light of the significant uncertainties inherent in the forward-looking statements included herein, you should not regard the inclusion of such information as a representation by us that our objectives, plans and projected results of operations will be achieved and the Company's actual results could differ materially from such forward-looking statements. The Company does not undertake any obligation to publicly release any revisions to the forward-looking statements contained herein to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events.

SOURCE: O'Charley's Inc.

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