Total Entertainment Restaurant Corp. Announces Fourth Quarter Earnings and News Release


WICHITA, Kansas, Jan. 22, 1999 (PRIMEZONE) -- Total Entertainment Restaurant Corp. (NASDAQ: TENT) announced record sales and earnings for both the sixteen week fourth quarter and fiscal year ended December 29, 1998.

Fourth quarter sales increased 116.3% to $14,713,000 compared with $6,801,000 for the same quarter last year. Fiscal year end sales increased 83.3% to $34,114,000 from $18,557,000 last year. Comparable store sales decreased 2.3% in the fourth quarter and decreased 0.9% for the year.

Net income increased 29.6% for the fourth quarter to $850,000 or $.08 per share compared with $656,000 or $.06 per share for the same period a year ago. Net income for the year increased 92.5% to $2,081,000 or $.20 per share compared with $1,081,000 or $.12 per share last year.

During the fourth quarter, six Fox and Hound English Pub & Grille units and three Bailey's Pub & Grille units were opened bringing the total number of units opened in 1998 to sixteen. The new units are:


      Atlanta, GA                        Kansas City, KS
      Lubbock, TX                        Canton, OH
      Dayton, OH                         Chapel Hill, NC
      Detroit, MI                        New Orleans, LA
      Memphis #2, TN

Newly announced development plans call for eight new units to be opened in 1999 and ten to twelve new units in 2000. One unit has opened in Pittsburgh, PA and construction has begun on four additional units.

The Company has also entered into an office lease for its new corporate headquarters. The new contact information is as follows:


      Total Entertainment Restaurant Corp.
      9300 East Central Avenue, Suite 100
      Wichita, Kansas 67206
      P.O. Box 782558
      Wichita, Kansas 67278-2558
      Telephone:    (316) 634-0505

The Company currently operates 33 entertainment restaurants in 31 markets under the names Fox and Hound English Pub & Grille, Bailey's Sports Grille and Bailey's Pub & Grille.

This Press Release contains certain forward-looking statements including development plans of the Company within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the Company believes the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements contained in the Press Release will prove to be accurate.


                   Total Entertainment Restaurant Corp.
           Unaudited Summary Financial Data for the Fourth Quarter 1998
                     ($ in thousands except per share amounts)

                         Condensed Income Statements

                                                  Historical
                                      ____________________________________
                                   For the sixteen       For the sixteen  
                                      weeks ended           weeks ended  
                                    December 29, 1998    December 30, 1997 
                                         $        %         $        % 
                                      ________  _____   _______   ______
Food & beverage                       $ 13,342   90.7    $ 5,795   85.2
Amusement & other                        1,371    9.3      1,006   14.8
                                      ________  ______   _______  ______
 Total net sales                        14,713  100.0      6,801   100.0
            
Costs and expenses:            
 Costs of sales                          4,196   28.5      1,815    26.7 
 Restaurant operating expenses           6,721   45.7      2,976    43.8 
 Depreciation and amortization           1,313    8.9        344     5.1 
                                      ________  ______   _______   ______
  Restaurant costs and expenses         12,230   83.1      5,135    75.5 
                                      ________  ______   _______   ______
Restaurant operating income              2,483   16.9      1,666    24.5 
General and administrative expenses        929    6.3        668     9.8 
Goodwill amortization                       75    0.5         79     1.2 
                                      ________  ______   _______   ______
Income from operations                   1,479   10.1        919    13.5 
Interest income & other                   --       --         88     1.3 
Interest expense                          (131)  (0.9)      --       --  
                                      ________  ______   _______   ______
Income before taxes                      1,348    9.2      1,007    14.8 
Provision for income taxes                 498    3.4        351     5.2 
                                      ________  _____    _______   ______
Net income                               $ 850    5.8      $ 656     9.6 
                                      ________  _____    _______   ______
                                      ________  _____    _______   ______

Net income per share                    $ 0.08            $ 0.06    
                                      ________           _______   
                                      ________           _______   
            
            
Weighted average shares 
 outstanding (in 000's)                 10,415            10,415    
            
Restaurants open at end of period           32                16    
            
Comparable sales growth                   (2.3) %           (0.6) %  
            
            
                                                           Company 
                                       Historical         Pro Forma 
                                   _________________   _________________
                                      For the fifty-two weeks ended      
                                     ___________________________________
                                   December 29, 1998   December 30, 1997
                                     $         %           $          %
                                   _______   ______    _______   ______
Food & beverage                   $ 30,010    88.0    $ 15,482     83.4 
Amusement & other                    4,104    12.0       3,075     16.6 
                                   _______  ______     _______    ______
Total net sales                     34,114   100.0      18,557    100.0 
        
Costs and expenses 
 Costs of sales                      9,429    27.6       4,912     26.5 
 Restaurant operating expenses      15,586    45.6       8,281     44.6 
 Depreciation and amortization       2,875     8.4       1,052      5.6 
                                   _______  ______     _______    ______
  Restaurant costs and expenses     27,890    81.8      14,245     76.8 
                                   _______  ______     _______    ______
Restaurant operating income          6,224    18.2       4,312     23.2 
General and administrative expenses  2,609     7.6       2,014     10.9 
Goodwill amortization                  244     0.7         242      1.3 
                                   _______  ______     _______    ______
Income from operations               3,371     9.9       2,056     11.1 
Interest income & other                 71     0.2         129      0.7 
Interest expense                      (140)   (0.4)       (499)    (2.7)
                                   _______  ______     _______    ______
Income before taxes                  3,302     9.7       1,686      9.1 
Provision for income taxes           1,221     3.6         605      3.3 
                                   _______  ______     _______    ______
Net Income                         $ 2,081     6.1     $ 1,081      5.8 
                                   _______  ______     _______    ______
                                   _______  ______     _______    ______
        
Net income per share                $ 0.20             $ 0.12   
                                   _______             _______  
                                   _______             _______  
             
        
Weighted average shares 
outstanding (in 000's)              10,415              9,062   
        
Restaurants open at end of period       32                 16   
        
Comparable sales growth               (0.9) %             2.7  % 
        


                           Condensed Balance Sheets       
          
                                             December 29,    December 30, 
                                                1998            1997 
Current assets:          
 Cash and cash equivalents                       $ 946         $ 1,221  
 Marketable securities                             --            3,315  
 Other current assets                            3,379           1,290  
                                              ________         _______ 
                                                 4,325           5,826  
Property and equipment, net                     32,157          12,582  
Intangibles and other assets                     4,768           4,816  
                                              ________         _______ 
                                              $ 41,250        $ 23,224  
                                              ________         _______ 
                                              ________         _______ 
          
Total current liabilities                      $ 5,319         $ 1,247  
Noncurrent liabilities                          12,195             312  
Stockholders' equity                            23,736          21,665  
                                              ________         _______ 
                                              $ 41,250        $ 23,224  
                                              ________         _______ 
                                              ________         _______ 
Contact:  Christopher L. Wettig
          Total Entertainment Restaurant Corp. 
          (316) 634-0505