Rita's Inks 108 Franchise Deals In 2005; Frozen Dessert Chain To Open 1,500 Units By 2010

Heading Back to the Ice Age

BENSALEM, PENNSYLVANIA (Wednesday, February 15, 2006) - When Rita's announced new ownership and plans to expand aggressively last Spring, it meant business. In December 2005 alone, the 340-unit Italian Ice chain signed a record 22 franchise agreements, for a total of 108 new deals for the entire year – creating a buzz and turning heads in the $20 billion U.S. frozen dessert industry.

Under the direction of CEO Jim Rudolph, who acquired Rita's in May 2005 from its original founders, the nation's largest Italian Ice chain is right on target for its announced plan to operate 1,500 locations by 2010. Based on last year's pace, Rudolph says he expects to see more than 200 new franchise deals inked in 2006, and 70-100 new locations opening by year's end. Known for its long lines and cult-like customer following, Rita's is currently targeting areas for growth up and down the East Coast.

"For over two decades, Rita's has become a favorite of entrepreneurs and consumers who love our fresh, distinct product offerings and exceptional service," said Rudolph. "Now, we're attracting franchise owners in record numbers. We signed a record number of agreements in December, ironically a month when our seasonal locations are not in operation. As Rita's moves forward to operating 1,500 locations in four years, we look forward to making more owners and neighborhoods members of the extended Rita's family."

As part of a major search for qualified entrepreneurs to operate franchise locations, Franchise Licensing Managers from Rita's will hold franchise opportunity seminars throughout the year at locations throughout the country including Tampa and Jacksonville, Fla., Warwick, R.I., Glastonbury, and Stamford Conn., Pittsburgh, Pa. and Virginia Beach, Va.

As the only franchise focused exclusively on Italian ice, Rita's features products available in more than 30 flavors that set the franchise apart in the frozen dessert niche, attracting lines of fans stretching from the serving window during the seasonal operation months of March-September/October. Rita's famous product offerings that have inspired a cult-like following among consumers include Italian ice is made fresh daily on-site from a custom blend of ice and fresh fruit, resulting in a consistency smoother than a snow cone or shaved ice. Rita's also offers traditional Old Fashion Frozen Custard; Gelati made of layers of Italian ice and frozen custard; Misto shakes, created from a blend of Italian ice and creamy custard and Cream Ices which are smoother than Italian ice, but not as heavy as ice cream.

In addition, Rita's recently announced the launch of its first product specifically designed for consumers to take home and keep in their freezers. Beginning in March of 2006, more than 340 Rita's locations nationwide will offer the Swirlati™, the first product in a line of Squeezers™ frozen push pops available in six-pack boxes, as well as 700 grocery stores in the East Coast.

About Rita's

Rita's was founded in 1984 by former Philadelphia firefighter Bob Tumolo. Tumolo and his brother, John, began franchising the concept in 1989. Today, Rita's, now owned and operated by McKnight Capital Partners of Pittsburgh, thrives with over 340 locations in 12 states throughout the East Coast and as far West as Ohio. The company projects to have 1,500 locations open through franchise expansion by 2010.

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