The Steak N Shake Company To Present At The Eighth Annual Icr Xchange Conference

INDIANAPOLIS (Tuesday, January 03, 2006) - The Steak n Shake Company (NYSE: SNS) today announced that the Company will present at the Eighth Annual ICR XChange Conference at the Ritz Carlton Hotel in Naples, FL on Friday, January 13, 2006, at 9:15 a.m. Eastern. Hosting the presentation will be Peter Dunn, President and Chief Executive Officer, and Jeffrey A. Blade, Senior Vice President and Chief Financial Officer.

(Logo: http://www.newscom.com/cgi-bin/prnh/20000606/STEAKLOGO )

Interested investors and other parties may listen to a simultaneous webcast by logging onto the Company's website at http://www.steaknshake.com . The on-line replay will be available for a limited time immediately following the presentation.

About Steak n Shake

Steak n Shake is a full service, casual dining restaurant serving a core menu of its famous Steakburgers, thin 'n crispy French Fries and old fashioned hand-dipped Milk Shakes. Menu variety includes sandwiches, such as the Turkey Melt and the Grilled Chicken Breast, as well as Chili, home style soups, fresh salads, a variety of desserts and breakfast. All of the food is prepared to the guest's order and served by friendly, well-trained associates. Steak n Shake restaurants feature full-service dining areas, counter service and drive-thru windows. Restaurants are open 24 hours a day, seven days a week.

This press release contains various "forward looking statements" which represent the company's expectations or beliefs concerning future events. Investors are cautioned that reliance on "forward looking statements" involves risks and uncertainties, and although the Company believes that the assumptions on which the "forward looking statements" contained herein are based, are reasonable, any of these assumptions could prove to be inaccurate and, as a result, the "forward looking statements" based upon those assumptions also could be incorrect. Investors are referred to the full discussion of risks and uncertainties associated with "forward looking statements" contained in the company's filings with the Securities and Exchange Commission.

SOURCE The Steak n Shake Company

CONTACT: Jeffrey A. Blade, Senior Vice President & CFO, Finance and Investor Relations of The Steak n Shake Company, +1-317-633-4100

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