Silver Diner Development, Inc. Successfully Completes Merger With Food Trends Acquisition Corporation

Business Wire, March 27, 1996

ROCKVILLE, Md.--(BUSINESS WIRE)--March 27, 1996--Food Trends Acquisition Corporation announced today that its stockholders approved the merger with Silver Diner Development, Inc. and that the merger has been consummated. As a result of this merger, the pre-merger Silver Diner stockholders now own approximately 57% of the stock of Food Trends which has changed its name to Silver Diner Development, Inc. The common shares of Silver Diner Development, Inc. have been approved for trading today on the Nasdaq National Market under the symbol SLVR.

Silver Diner will remain headquartered in Rockville, Maryland and will continue to be operated by its current executive team, led by Robert T. Giaimo, its President, Chief Executive Officer and Founder.

"We are very pleased that the Food Trends shareholders approved the merger and that our stock is now listed on the Nasdaq National Market," said Mr. Giaimo. "In addition to receiving substantial capital for expansion, we are very excited to have George Naddaff, Chairman of Food Trends and former Chairman of Boston Chicken, Inc. and Douglas Suliman, Jr., President of Food Trends, join with our existing seven board members to form the expanded Board of Directors for Silver Diner Development, Inc."

Commenting on the merger, Douglas Suliman, Jr., President of Food Trends Acquisition Corporation, said, "This transaction is the culmination of Food Trend's year-long search to partner with a superior restaurant concept that has exceptional execution, good unit economics and the potential to grow, over time, into one of the preeminent consumer brands within the industry. We are extremely pleased that our shareholders have expressed such strong support for the merger with Silver Diner Development Inc. and share in our vision for the future of this exciting new concept in dining."

Each Silver Diner features "the best of the old with the best of the new." The best of the old is the classic, timeless, universally recognized diner exterior, in addition to a comfortable interior decor and atmosphere. The best of the new is a broad and diverse menu combining traditional diner items, including all-day breakfast, with contemporary regional specialties and "Heart Healthy" selections.

Silver Diner currently operates six diners in the greater Washington/ Baltimore Metropolitan Area and expects to open six to eight more by the end of 1997, including locations in Reston, Springfield, Clarendon and Merrifield, Virginia. The Company is also evaluating several new markets for future expansion including the corridor between Philadelphia and Northern New Jersey, and South Florida.

There are 10,003,858 Silver Diner common shares outstanding, a substantial number of which may not be sold or traded for nine months pursuant to various lock-up agreements. The closing bid price for the shares on March 26, 1996 was $6.00 per share.

CONTACT: Robert T. Giaimo, President or

David Oden, Chief Financial Officer

Silver Diner Development, Inc.

(301) 770-4186

or

Douglas M. Suliman, Jr., President

Food Trends Acquisition Corp.

(617) 239-8107

or

Betsy Brod/Alex Gleeson

Media: Michael McMullan

Morgen-Walke Associates

(212) 850-5600