Eat At Joe's Ltd. Announces Opening of University City Diner; Company's First Sit-Down Unit With Seating for 160 Patrons

Business Wire, July 15, 1998

CHERRY HILL, N.J.--(BUSINESS WIRE)--July 15, 1998--Eat At Joe's Ltd. (OTC BB: JOES) an emerging 1950s style diner restaurant chain, announced Wednesday that its first sit down unit, Eat At Joe's University City Diner, 3925 Walnut St., Philadelphia, is now open for business.

The unit, which encompasses 4,000 square feet and seating for 160, offers a full menu. It is next to the University of Pennsylvania and Drexel University campuses and adjacent to a multiplex movie theater.

The restaurant has been styled in the 1950s American Diner theme with glistening chrome paneling, highly polished table tops, neon signage, background music of the era on a classic juke box and uniforms reminiscent of the nostalgic 1950s.

A replica of a 1957 Chevy serves as a booth with seating for six and a small retail shop located within the restaurant offers a wide variety of Eat At Joe's and 1950s memorabilia, including T-Shirts, hats, jackets, sweatshirts and classic 1950s music on CDs.

Commenting on the opening, Joseph Fiore, chairman and CEO of Eat At Joe's, stated, "We are very pleased with the design, construction, and final product of this, our first sit down Eat At Joe's unit, and fifth restaurant opened since November, 1997. This unit will serve as an example of the type of full service themed 1950s restaurant that we will be opening, going forward offering dependable high quality food, affordably priced and served in a unique fun environment."

"The next sit down Eat At Joe's is nearing completion and is expected to open in early August. It is a two-tiered unit located in Center City Philadelphia at the Gallery at Market East, with seating for 80 and a full bar. Construction of the Inner Harbor unit in Baltimore, Md. is well under way and should be open by mid-August. The Moorestown Mall unit, Moorestown, N.J., is expected to open by the end of August. We expect to begin construction of two additional units in late July," Fiore said.

Eat At Joe's is a diversified restaurant organization, initially building a new chain of 1950s style diners featuring quality, home-cooked American meals at affordable prices in an appealing and fun atmosphere.

Except for historical matters contained herein, the matters discussed in this press release are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform act of 1995.

These forward-looking statements reflect assumptions and involve risks and uncertainties which may affect Eat At Joe's Ltd.'s business and prospects and cause actual results to differ materially from these forward-looking statements.

For further information, please contact:

The Wall Street Group Inc. World Vision Financial Group 32 East 57th St. 238 Wilshire Blvd., Ste 149 New York, N.Y. 10022 Casselberry, Fla. 32707 212/888-4848 888/345-6060

Attn: Ron Stabiner Attn: Orville Baldridge vice-president CEO

Eat At Joe's Ltd. 670 White Plains Road, Suite 120 Scarsdale, N.Y. 10583 914/725-2700

Attn: Joseph Fiore chairman & CEO

Visit the Eat At Joe's Website at: http://eatatjoesltd.com.

   CONTACT:  Eat At Joe's
              Joseph Fiore, chairman & CEO
              914/725-2700
                    or
              The Wall Street Group Inc.
              Ron Stabiner, vice-president, 212/888-4848
                    or
              World Vision Financial Group
              Orville Baldridge, CEO, 888/345-6060