FFCA Provides $44.2 Million in Debt Refinancing to Uni-Marts, Inc

Business Wire, July 6, 1998

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--July 6, 1998--Franchise Finance Corporation of America (NYSE:FFA) ("FFCA") announced today that it has provided $44.2 million to Uni-Marts, Inc. (AMEX:UNI) for the refinancing of Uni-Marts' existing debt.

This transaction consisted of long-term mortgage refinancing, a revolving line of credit and letter of credit facility. Uni-Marts, located in State College, PA, operates 263 convenience stores and 20 Choice Cigarette Discount Outlets in Pennsylvania, New York, Delaware, Virginia, Maryland and New Jersey.

Morton H. Fleischer, Chairman, President and CEO of FFCA, said, "This transaction demonstrates how FFCA meets the immediate financing needs of our customers, and at the same time positions them to achieve their long-term business strategies. Recapitalizing a company through the use of debt refinancing is one of many customized alternatives we have to offer our customers. We are pleased to align ourselves with a successful multi-unit operator such as Uni-Marts and look forward to working with their management team in the near future."

"The successful completion of our transaction with FFCA is another important step in our strategic plan," commented Henry D. Sahakian, Uni-Marts' Chairman of the Board and CEO. "The flexible long-term package they have provided will improve our balance sheet liquidity and cash flow, thereby strengthening our ability to finance our operations."

FFCA is a premier specialty retail finance company dedicated primarily to providing financing to the chain restaurant industry as well as the convenience store and automotive service and parts industries. FFCA's mission is to be a one-stop finance source for multi-unit operators who own or operate the retail properties in which FFCA invests. Mortgage loans, leasing alternatives, equipment loans, and construction and acquisition financing are among some of the custom financing solutions FFCA provides its customers. As of March 31, 1998, FFCA had investments in more than 2,700 properties (including interests in securitized loans) in 48 states, the District of Columbia and Canada. Chains represented in the company's portfolio include Applebee's, Burger King, Checker Auto Parts, Circle K, Citgo, Taco Bell, Texaco, Valvoline Instant Oil Change and Wendy's.

www.ffca.com

CONTACT: Franchise Finance Corporation of America, Scottsdale

Janelle Minter, Corporate Communications, 602/585-4500