Exhibit 99.1

Company Contact:

Donald H. Walker	Bill Roberts, CTC
Vice President-Finance and CFO	(937) 434-2700
Frisch’s Restaurants, Inc.	Wayne Buckhout, CTC
(513) 559-5202	(937) 434-2700

Frisch’s Reports Record Sales and Earnings in Second Quarter

of Fiscal 2005

FOR IMMEDIATE RELEASE

Cincinnati, OH—January 10, 2005, Frisch’s Restaurants, Inc. (Amex: FRS) reported record sales and earnings for the 12-week second quarter ended December 12, 2004. Revenues rose 11.1% to $67,058,050 from $60,383,860 for last year’s second quarter. Earnings for the quarter rose 13.8% to $2,744,051 compared to $2,410,570 last year. Diluted earnings per share increased to $.53 per share from $.47 per share last year.

For the first half of the fiscal year, revenue rose 10% to $151,543,068 from $137,786,905 for the first half of last year. Earnings declined 1% to $5,642,722 from $5,698,591. Diluted earnings per share were $1.10 for the first half of fiscal 2005 versus $1.12 per share last year.

Craig F. Maier, President and Chief Executive Officer, said, “Same store sales in the second quarter at our Big Boy restaurants increased 3.2%. This marks the twenty-eighth out of the last twenty-nine quarters that same store sales have increased in our Big Boy restaurants. For the twenty-eight weeks, same store sales are ahead 1.8%. A new Big Boy was opened in late September, replacing an older Big Boy on the same site. In addition, one other older Big Boy was permanently closed in November.

“Same store sales for our Golden Corral restaurants declined 5.9% for the quarter and 4.7% year to date. We now have twenty-nine Golden Corrals in operation with one more under construction in Louisville.”

Frisch’s Restaurants, Inc. is a regional company that operates and licenses others to operate full service family-style restaurants under the name of Frisch’s Big Boy, and operates grill buffet-style restaurants under the name Golden Corral under certain licensing agreements. All restaurants currently operated by the Company are located in various regions of Ohio, Kentucky and Indiana. The Company owns the trademark “Frisch’s” and has exclusive, irrevocable ownership of the rights to the “Big Boy” trademark, trade name and service mark in the states of Kentucky and Indiana, and in most of Ohio and Tennessee. Plans are in place to expand Golden Corral operations into certain parts of Michigan, Pennsylvania and West Virginia.

The Company has reported a profit every year since going public in 1960, and paid cash dividends to shareholders every quarter over the same period.

Statements contained in this press release which are not historical facts are forward looking statements as that item is defined in the Private Securities Litigation Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company’s filings with the Securities and Exchange Commission.

Frisch’s Restaurants, Inc. and Subsidiaries

CONSOLIDATED STATEMENT OF EARNINGS (unaudited)

(In thousands, except per share data)

	Twenty-eight weeks ended				Twelve weeks ended
	Dec. 12, 2004		Dec. 14, 2003		Dec. 12, 2004		Dec. 14, 2003
Revenue
Sales	$	150,810	$	137,129	$	66,747	$	60,092
Other		733		658		311		292
Total revenue		151,543		137,787		67,058		60,384
Costs and expenses
Cost of sales
Food and paper		52,753		46,496		23,338		20,290
Payroll and related		50,192		46,345		22,200		20,458
Other operating costs		30,758		27,879		13,204		12,320
		133,703		120,720		58,742		53,068
Administrative and advertising		7,576		6,915		3,252		2,956
Interest		1,447		1,316		640		583
Total costs and expenses		142,726		128,951		62,634		56,607
Earnings before income taxes		8,817		8,836		4,424		3,777
Income taxes		3,174		3,137		1,680		1,366
Net earnings	$	5,643	$	5,699	$	2,744	$	2,411
Earnings per share (EPS) of common stock:
Basic net earnings per share	$	1.12	$	1.15	$	.54	$	.48
Diluted net earnings per share	$	1.10	$	1.12	$	.53	$	.47
Diluted average shares outstanding		5,153		5,096		5,144		5,128
Depreciation included above	$	6,230	$	5,736	$	2,741	$	2,408
Opening expense included above	$	1,050	$	947	$	327	$	513

Frisch’s Restaurants, Inc. and Subsidiaries

CONSOLIDATED BALANCE SHEET

(In thousands of dollars)

	Dec. 12, 2004 (unaudited)		May 30, 2004
Assets
Current assets
Cash and equivalents	$	1,276	$	294
Receivables		1,648		1,766
Inventories		4,646		4,382
Other current assets		3,239		3,101
		10,809		9,543
Property and equipment		143,139		135,720
Other assets
Goodwill & other intangible assets		2,108		1,864
Property held for sale and land investments		2,164		2,309
Other		7,511		7,412
		11,783		11,585
	$	165,731	$	156,848
Liabilities and shareholders’ equity
Current liabilities
Accounts payable	$	13,466	$	13,380
Accrued expenses		8,113		8,238
Other		10,154		8,486
		31,733		30,104
Long-term obligations
Long-term debt		37,801		35,227
Other long-term obligations		12,443		12,050
		50,244		47,277
Shareholders’ equity		83,754		79,467
	$	165,731	$	156,848