Friendly's Earns Restaurant Neighbor Award For Easter Seals Fundraising

(Thursday, September 14, 2006) - Friendly Ice Cream Corporation (Amex: FRN) has been selected by the National Restaurant Association as one of this year's Restaurant Neighbor Award state winners/national finalists in the national chain category. The award, which recognizes the philanthropic nature of the foodservice industry, speaks to Friendly's tremendous dedication to community outreach. For more than 25 years, Friendly's has partnered with Easter Seals to meet the needs of children and adults living with disabilities through the annual ‘Cones for Kids' program. Overall, Friendly's has raised more than $23 million dollars for Easter Seals, with $1 million raised last year alone.

As a finalist, Friendly's ‘Cones for Kids' program will be highlighted in a booklet profiling winners across the country and also listed as a state winner at the opening session of the National Restaurant Association's annual Public Affairs Conference.

"Giving back to the communities we serve is a vital part of Friendly's corporate culture," says John L. Cutter, CEO and President of Friendly Ice Cream Corporation. Friendly's Restaurants work closely with their neighbors at the local level, especially where disability services are concerned."

James E. Williams, Jr., president and chief executive officer of Easter Seals says, "After so many years of making a real impact on the lives of people living with disabilities, it's wonderful for Friendly Ice Cream and ‘Cones for Kids' to be recognized by the National Restaurant Association."

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 515 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 71-year operating history, Friendly's enjoys strong brand recognition and is currently revitalizing its restaurants and introducing new products to grow its customer base. Additional information on Friendly Ice Cream Corporation can be found at www.friendlys.com.

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