Under the agreement with area entrepreneur Bob Rone, Hospitality Restaurants, Inc. will develop two new Friendly’s Restaurants in the Atlantic-Cape May-Cumberland area by December, 2008.

In addition, Rone, who already owns and operates three area Friendly’s Restaurants, has assumed ownership of two Friendly’s franchises at the Cumberland Mall in Vineland and the Hamilton Mall in Mays Landing.

Rone has a proven record in the foodservice sector. He has been a Friendly’s franchisee since 1999, with three locations in Northfield, Upper Deerfield and Vineland. He also owns several other successful restaurants.

“I opened my first Friendly’s almost seven years ago, and this brand has been a big winner for me, my employees, and our guests,” he said.   “This is a brand that enjoys tremendous customer loyalty and has great possibilities for future growth. I’m extremely pleased to be expanding my current relationship with Friendly’s by acquiring these three existing franchises and developing two new locations.”

The announcement is part of a continued franchise expansion strategy by Friendly’s, which has announced similar franchise agreements for 49 restaurants in the last 12 months. Each restaurant means jobs, tax revenues, and other economic benefits for the local community.

“Franchisees like Bob Rone are at the heart of Friendly’s success,” said James D. Sullivan, Vice President, Franchise and Real Estate Development at Friendly’s. “From the quality of the food to the way they serve their guests, Bob and his team are 100 percent committed to providing a great experience in their restaurants. That’s the kind of quality and commitment that Friendly’s wants to deliver each day.  We are excited by this opportunity to strengthen our partnership with Bob and Hospitality Restaurants and continue to build our brand in southern New Jersey.”

Friendly Ice Cream Corporation (Amex: FRN) is a vertically integrated restaurant company serving signature sandwiches, entrees and ice cream desserts in a friendly, family environment in more than 525 company and franchised restaurants throughout the Northeast. The company also manufactures ice cream, which is distributed through more than 4,500 supermarkets and other retail locations. With a 70-year operating history, Friendly's enjoys strong brand recognition and is currently revitalizing its restaurants and introducing new products to grow its customer base.