Fog Cutter Capital Group Inc. Reports First Quarter 2008 Operating Results

Business Wire, May 15, 2008

* competitive products and pricing;

* the real estate market, including the residential real estate market in Barcelona, Spain;

* the ability to sell assets to maintain liquidity;

* fiscal and monetary policies of the U.S. Government;

* changes in prevailing interest rates;

* changes in currency exchange rates;

* acquisitions and the integration of acquired businesses;

* performance of retail/consumer markets, including consumer preferences and concerns about diet;

* effective expansion of the Company's restaurants in new and existing markets;

* profitability and success of franchisee restaurants;

* availability of quality real estate locations for restaurant expansion;

* the market for Centrisoft's software products;

* credit risk management; and

* asset/liability management

Except as may be required by law, the Company does not undertake, and specifically disclaims any obligation, to publicly release the results of any revisions which may be made to any Forward-Looking Statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. The following financial results should be read in conjunction with the Form 10-Q filed with the Securities and Exchange Commission on May 15, 2008.

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