Champps Entertainment Ends Sale Process

  
    
  
  
    
      Champps Entertainment, Inc. (NASDAQ: CMPP) today announced that the 
      special committee of its board of directors that had been exploring a 
      sale of the Company has terminated the sale process. The committee 
      solicited a number of prospective purchasers, but did not receive any 
      definitive proposals that the committee deemed acceptable.
    
    
      The Company said that its board of directors remains committed to 
      supporting management's ongoing efforts to focus on the basics of the 
      Champps’ business and its previously disclosed 
      initiatives to improve profitability. The board has also authorized 
      Champps' Chairman and CEO, Mike O’Donnell, and 
      his management team to explore opportunities to increase shareholder 
      value, including evaluation of acquisitions that leverage the Company’s 
      infrastructure and expertise.
    
    
      About Champps Entertainment, Inc.
    
    
      Champps Entertainment, Inc. owns and operates 49 and franchises/licenses 
      12 restaurants in 21 states. Champps, which competes in the upscale 
      casual dining segment, offers an extensive menu consisting of freshly 
      prepared food, coupled with exceptional service. Champps creates an 
      exciting environment through the use of videos, music, sports and 
      promotions.
    
    
      Safe Harbor Statement
    
    
      Certain statements made in this press release are forward-looking 
      statements. These forward-looking statements are made pursuant to the 
      safe harbor provisions of the Private Securities Litigation Reform Act 
      of 1995. Such statements involve certain risks and uncertainties that 
      could cause actual results to differ materially from those in the 
      forward-looking statements. Such forward-looking statements include 
      statements regarding our efforts to improve profitability and increase 
      shareholder value. Information on significant potential risks and 
      uncertainties that may also affect future results include, but are not 
      limited to, those mentioned by the Company from time to time in its 
      filings with the SEC. The words "may," "will," "believe," "estimate," 
      "expect," "plan," "intend," "project," "anticipate," "could," "would," 
      "should," "seek," "continue" "pursue" and similar expressions and 
      variations thereof identify certain of such forward-looking statements, 
      which speak only as of the dates on which they were made. The Company 
      undertakes no obligation to publicly update or revise any 
      forward-looking statements, whether as a result of new information, 
      future events, or otherwise. Readers are cautioned that any such 
      forward-looking statements are not guarantees of future performance and 
      involve risks and uncertainties, and, therefore, readers should not 
      place undue reliance on these forward-looking statements.