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Contact: Ted Storey
Senior Vice President, Business Development
Round Table Franchise Corporation

Round Table Pizza Announces Refinancing of Senior Debt

CONCORD, CA November 6, 2012. Round Table Pizza, Inc., a leading pizza chain in the western U.S., announced today that it completed the refinancing of its senior debt. On November 2, 2012, the Company entered into a $35 million senior secured credit agreement with Summit Partners of Boston, Mass. Under the new credit facility, Round Table obtained a term loan in the aggregate principal amount of $32.5 million, which matures in five years. It also received the option of obtaining additional growth capital of up to $2.5 million.

Concurrently, Round Table terminated its existing credit agreement with GE Capital and Prudential covering an outstanding principal amount of $28.8 million. "This new credit facility provides us the capital we need to execute our strategic business plan," said Keith Davis, Chief Financial Officer for Round Table Pizza, Inc. "We were able to secure the new loan on competitive terms and creatively structure the credit facility to reduce our quarterly loan payments."

Round Table emerged from Chapter 11 proceedings in December 2011 with a four-year plan to repay all creditors in full while retaining 100% employee ownership. The court-approved restructuring plan called for senior debt to be refinanced by July 2013. Chief Executive Officer, Rob McCourt, said "We've accomplished our refinancing nine months ahead of schedule. This was made possible by the strong positive momentum we're experiencing in our underlying business." Round Table corporate-owned stores have experienced 5% sales growth year-to-date in 2012, and sales growth has been positive since May 2011. Sales growth for the entire Round Table system has been positive since November 2011.

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