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Aggressive Expansion Effort Begins
MINNEAPOLIS, September 3, 2003 - Granite City Food & Brewery Ltd. (Nasdaq: GCFB) announced the opening of its restaurant/microbrewery Tuesday in West Des Moines, Iowa. This newly designed 8,900 square foot restaurant seats approximately 250 and is the company's fourth restaurant in as many states.
"This week's opening of our new restaurant in West Des Moines is the beginning of a very exciting time for Granite City," said Steve Wagenheim, President and CEO of Granite City Food & Brewery. "We are pleased to have the West Des Moines market showcase our newly developed prototype restaurant. With this new prototype building completed, we are now ready to aggressively expand our concept. We plan to open six additional locations in the Midwest by the end of 2004 with this fresh new look which, in conjunction with our broad menu and exemplary service, will provide our guests a great dining experience."
Wagenheim said the company will be opening a Granite City Food & Brewery in Cedar Rapids, Iowa in November 2003 and in Davenport, Iowa in February 2004. He said additional sites have been selected in Nebraska, Minnesota and Kansas.
Granite City Food & Brewery Ltd. currently operates four Granite City Food & Brewery casual dining restaurants featuring made-from-scratch food and handcrafted beers. Its broad menu offers traditional and regional foods served in generous portions at reasonable prices, affording guests an excellent value and great dining experience. Its first Granite City location, in St. Cloud, MN, opened in June 1999. The Company's second location opened in Sioux Falls, SD, in December 2000, the third location opened in November 2001 in Fargo, ND and the fourth opened in West Des Moines, IA September 2, 2003.
Certain statements made in this press release of a non-historical nature constitute "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated. Such factors include, but are not limited to, changes in economic conditions, changes in consumer preferences or discretionary consumer spending, a significant change in the performance of any existing units, the ability to obtain financing for, and complete construction of, additional restaurants at acceptable costs, our ability to implement and execute Fermentus Interruptus and the risks and uncertainties described in the Company's Form 10-KSB Report for the year ended December 29, 2002 as filed with the Securities and Exchange Commission.
CONTACT:
Steven J. Wagenheim
President and Chief Executive Officer
(952) 525-2070 or (612) 751-3331
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