D&B Acquisition Sub, Inc. Extends Tender
                         Offer for Dave & Buster's, Inc.

     NEW YORK - JULY 3, 2002 - D&B  Acquisition  Sub, Inc.  today  announced the
extension  of its tender  offer for all of the shares of Dave &  Buster's,  Inc.
(NYSE:  DAB) until 5:00 p.m.,  New York City  time,  on  Tuesday,  July 9, 2002.
Approximately 5.9 million shares  (approximately 44% of the outstanding  shares)
have been tendered to date. The shares  tendered to date plus the shares held by
senior  management  of Dave &  Buster's  which  are  committed  to  support  the
transaction  together  represent  approximately  51.5% of the total  outstanding
shares.

The  number  of  shares  tendered  to date is  significantly  below the 80%
minimum tender  condition  required in the offer,  as well as the 66 2/3% tender
condition on which the parties have agreed to proceed with a single-step  merger
as an alternative to the tender offer if the 80% minimum tender condition is not
satisfied.  In the  event  that the 66 2/3%  tender  condition  is not met,  D&B
Acquisition  Sub  stated  that  it  is  highly  unlikely  to  proceed  with  the
transaction.

On  Friday  of last  week,  D&B  Acquisition  Sub  reached  agreement  with
investors  on the  terms of a bond  offering  to  partially  fund  the  proposed
transaction.  Due to difficult market conditions,  the bond offering was reduced
from  $165  million  to  $150  million  and,  as a  result,  Investcorp  and its
co-investors  will be  required to commit an  additional  $10 million of equity.
Based on the  additional  equity  commitment and the increased cost of debt, D&B
Acquisition  Sub stated  that it does not intend to  increase  its $12 per share
offer price.

About D&B Acquisition Sub
--------------------------

D&B Acquisition Sub is a wholly-owned subsidiary of D&B Holdings I, Inc., a
corporation  organized for purposes of the  acquisition by Investcorp,  a global
investment  firm, other  international  investors  organized by Investcorp,  and
certain members of senior management of Dave & Buster's.

Note Regarding Forward-Looking Statements

This release contains  forward-looking  statements that involve assumptions
regarding the future prospects of Dave & Buster's. Although D&B Acquisition Sub,
Inc.  believes these  statements are based on reasonable  assumptions,  they are
subject  to risk  and  uncertainty,  including,  among  other  things,  changing
economic  conditions  and the ability to  successfully  complete the  referenced
tender offer.  Caution should be taken that these factors could cause the actual
results to differ from those stated or implied in this and other communications.

THIS  ANNOUNCEMENT IS NEITHER AN OFFER TO PURCHASE NOR A SOLICITATION OF AN
OFFER TO SELL SHARES OF DAVE & BUSTER'S,  INC.  D&B  ACQUISITION  SUB,  INC. HAS
FILED AN OFFER TO PURCHASE AND A LETTER OF  TRANSMITTAL  WITH THE SECURITIES AND
EXCHANGE  COMMISSION  ("SEC")  RELATING TO ITS OFFER TO PURCHASE ALL OUTSTANDING
SHARES OF COMMON STOCK OF DAVE & BUSTER'S, INC. BEFORE ANY DECISION IS MADE WITH
RESPECT TO THE OFFER,  ALL  STOCKHOLDERS  OF DAVE & BUSTER'S,  INC. ARE STRONGLY
ADVISED TO READ THE OFFER TO PURCHASE AND LETTER OF TRANSMITTAL  AND THE RELATED
SOLICITATION/RECOMMENDATION  STATEMENT  FILED  WITH THE SEC BY DAVE &  BUSTER'S,
INC.  BECAUSE THESE  DOCUMENTS  CONTAIN  IMPORTANT  INFORMATION  RELATING TO THE
OFFER.  THESE  DOCUMENTS  ARE  AVAILABLE  AT NO CHARGE ON THE SEC'S  WEBSITE  AT
HTTP://WWW.SEC.GOV  AND MAY BE OBTAINED FOR FREE FROM D.F.  KING & CO.,  INC. BY
CALLING 1-800-549-6697.


Contacts:         Investcorp
                  Todd Fogarty /Jim Fingeroth
                  Kekst and Company
                  212.521.4800

                  Information Agent
                  D.F. King & Co., Inc.
                  800.549.6697