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Minneapolis, MN, February 6, 2006 - Granite City Food & Brewery Ltd. (Nasdaq: GCFB) announced today the resignation and retirement of the Company's Chairman of the Board and Brewmaster, Mr. William Burdick. Mr. Burdick, age 65, is the creator of the Company's patent-pending brewing process, Fermentus Interruptus, whereby the initial stage of the brewing process-- the production of non-alcoholic wort-- begins at a central location and is then transported via truck to the fermentation vessels at each restaurant where the brewing process is completed.
"It has been an honor working with Bill over the last several years, developing the Granite City concept and together growing the Company," said Steve Wagenheim, Granite City Food & Brewery's President and CEO. "Bill created the Fermentus Interruptus proprietary brewing system, and with his expertise we now have a mature brewing process that is currently serving 12 units and has the capacity to service approximately 18 to 23 additional units." "This is a great time for Bill," said Wagenheim, "he will be leaving Granite City with a talented brewing management team in place that will carry on his passion and allow him to fully enjoy his retirement. We wish him the best."
Mr. Burdick was a co-founder of Granite City Food & Brewery. He has over 30 years experience in the restaurant, hospitality and brewing industries in both corporate and private ownership positions. Mr. Burdick, a brewing chemist who writes for several brewing publications and lectures widely on brewing, brewing history and brewing science, was also the President and operator of Sherlock's Home Restaurant Pub and Brewery from 1989 through 2002.
In June 2005, Granite City Food & Brewery began operating a "worthouse" which facilitates the initial stage of the brewing process-- the production of non-alcoholic wort-- using a patent-pending brewing process called Fermentus Interruptus. The Company believes that Fermentus Interruptus and the use of a centrally located worthouse improves the economics of microbrewing as it eliminates the initial stages of brewing and storage at multiple locations, thereby reducing equipment and development costs at new restaurant locations. Additionally, having a common starting point for the production of wort creates consistency of taste from unit to unit. The wort is transported via truck from the Worthouse to the fermentation vessels at each of our restaurants where the brewing process is completed.
Granite City Food & Brewery Ltd. currently operates 12 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. Subsequently, the Company opened restaurants in Sioux Falls, SD, Fargo, ND, West Des Moines, IA, Cedar Rapids, IA, Davenport, IA, Lincoln, NE, Minneapolis, MN, Wichita, KS and St. Paul, MN, Kansas City, KS and Kansas City, MO.
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 Current Report on Form 8-K filed with the Securities and Exchange Commission on September 7, 2005.
CONTACT:
Steven J. Wagenheim
President and Chief Executive Officer
(952) 215-0678 or (612) 751-3331
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