Planet Hollywood Enters the World of Ice Cream With Dreyer's Grand Ice Cream; Long-Term Agreement to Develop New Brand of Ice Cream Products and Retail Shops; Whoopi Goldberg to Promote "Cool Planet Ice Cream"

Business Wire, Sept 18, 1997

OAKLAND, Calif.--(BUSINESS WIRE)--Sept. 18, 1997--Planet Hollywood International Inc. (NASDAQ:PHII) and Dreyer's Grand Ice Cream Inc. (NNM:DRYR) announced today that they have entered into a long-term agreement to develop and market a line of premium ice cream products under the brand name, "Cool Planet Ice Cream". Cool Planet Ice Cream will be manufactured and distributed by Dreyer's under a long-term license agreement.

Cool Planet Ice Cream products will be added to the menu in all Planet Hollywood restaurants worldwide beginning early next year. Early in 1998, Cool Planet products will be available in select major grocery chains throughout the United States, co-branded under the Dreyer's and Edy's names. The combination will leverage Planet Hollywood's internationally recognized logo and its success as a worldwide developer of consumer brands with Dreyer's standing as the best selling brand of packaged ice cream. Planet Hollywood stockholder and superstar of film, television and stage, Whoopi Goldberg, will represent Cool Planet ice cream products and the new Cool Planet Cafes throughout the United States.

Cool Planet Ice Cream will further extend and build awareness of the new product line through the development of an exciting new retail concept, branded Cool Planet Cafes. Planet Hollywood will develop and launch Cool Planet Cafes in several U.S. markets, and anticipates up to ten locations by mid-1998. The new Cool Planet Cafes will re-create the Planet Hollywood movie-themed experience and benefit from ongoing celebrity involvement with the retail concept. Customers will be offered a complete menu of exciting ice cream creations as well as other unique foods and beverages.

Keith Barish, Chairman of Planet Hollywood, commented, "We are very excited to form this venture with Dreyer's and believe it will offer consumers unique and exciting premium ice cream products to be enjoyed in a fun atmosphere. Whoopi Goldberg's involvement to promote and build awareness for this new brand directly parallels the fun, excitement and creativity she has brought to movie audiences throughout her career."

"This venture will combine Planet Hollywood's experience and expertise in retail and entertainment with Dreyer's ice cream manufacturing, marketing, sales and distribution capabilities," stated T. Gary Rogers, Chairman of the Board and Chief Executive Officer of Dreyer's. "It is consistent with our strategy of partnering with leading consumer brands, and reflects our commitment to and talent for innovation."

Planet Hollywood is a creator and worldwide developer of consumer brands that capitalize on the universal appeal of movies, sports and other entertainment-based themes. To date, the Company has promoted its brands primarily through the operation of theme restaurants, which provide a unique dining and entertainment experience in a high-energy environment and retail stores offering logo merchandise and accessories. The Company's restaurant and retail businesses enable it to extend its brands within the entertainment industry to create new business opportunities and ventures. In addition to Planet Hollywood, the Company has created and is continuing to develop such consumer brand concepts as Official All Star Cafe, a sports-themed restaurant-retail store.

Dreyer's Grand Ice Cream Inc. is the leading manufacturer, marketer, and distributor of premium ice cream in the United States. The Company's principal product line is sold under the Dreyer's brand throughout the thirteen western states, Texas and certain markets in the Far East. An identical product line is sold throughout the remainder of the United States under the Edy's name. Taken together, Dreyer's and Edy's is the best selling brand of packaged ice cream and related products in the country. -0-

Note to Editors: Certain statements contained herein are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties which may cause the venture and its partners actual results in future periods to differ materially from what is currently anticipated. Those risks include, among others, risks associated with the timing and costs associated with new location openings, availability of raw materials and ingredients, availability of sites, financing commitments and general competitive factors and a change in retailer, landlord or consumer acceptance of the venture and its partner's products and services.

CONTACT: Dreyer's Grand Ice Cream Inc.

William Collett, 510/601-4339

or

Planet Hollywood International Inc.

Robert Weiner, 407/363-7827