Noble Roman's Signs 60 Unit Area Development Agreement For Counties Surrounding Cleveland, Ohio

    INDIANAPOLIS, Nov. 7 /PRNewswire-FirstCall/ -- Indianapolis based Noble
 Roman's, Inc. (OTC Bulletin Board:   NROM) today announced the signing of
 another Area Development Agreement for 60 units, along with receipt of the
 development fees, for its dual-branded concepts, Noble Roman's Pizza and
 Tuscano's Italian Style Subs. This newest development territory is for ten
 counties surrounding Cleveland, Ohio, and includes a development schedule
 requiring 60 new franchise locations within the territory over the next
 eight years.
     Area Developers pay a development fee of $.05 per capita in their
 development area, and receive 30% of the initial franchise fee and 2/7ths
 of the royalty from the locations developed pursuant to their agreements.
 Noble Roman's, Inc. retains all training and supervision responsibilities,
 and must approve all franchisees and all locations. In order to maintain
 the right to develop the territories, each Area Developer has to meet the
 minimum development schedule as stipulated in their Area Development
 Agreement. The territory covered by this development schedule has a
 population of approximately 3.2 million people.
     With the signing of this most recent Area Development Agreement, the
 company has now entered in to 24 Area Development Agreements for various
 regions of the country, which together call for the development of 868
 franchised locations over the next three to eight years. Additionally, the
 company has entered in to 98 dual branded franchise agreements for
 traditional locations, 45 of which were sold through Area Developers. There
 can be no assurance that all the Area Developers will meet their required
 schedules. If an Area Developer does not meet the required schedule, the
 Developer loses their rights to the development area and their share of the
 franchise fee income on any of the units that were developed.
     The 24 Area Development Agreements call for the development of franchise
 locations as follows:
 
     Year:   2007   2008   2009   2010   2011   2012   2013   2014   2015
     Units:    46    117    147    161    155    109     87     36     10
     The company has franchises in 45 states from coast-to-coast within the
 United States. In addition, it has sold franchise agreements for military
 bases in Puerto Rico, Guam and Italy, and for entertainment facilities and
 convenience stores in Canada. In past years the company's growth strategy
 was to expand primarily through franchising in non-traditional locations.
 The company is continuing its growth by franchising non-traditional
 locations and, in addition, it is also part of the company's strategy to
 sell dual-branded Franchise Agreements for traditional locations. The
 company is selling development territories to Area Developers to spur its
 growth in stand-alone traditional locations.
     The statements contained in this press release concerning the company's
 future revenues, profitability, financial resources, market demand and
 product development are forward-looking statements (as such term is defined
 in the Private Securities Litigation Reform Act of 1995) relating to the
 company that are based on the beliefs of the management of the company, as
 well as assumptions and estimates made by and information currently
 available to the company's management. The company's actual results in the
 future may differ materially from those projected in the forward-looking
 statements due to risks and uncertainties that exist in the company's
 operations and business environment including, but not limited to:
 competitive factors and pricing pressures, shifts in market demand, general
 economic conditions and other factors, including (but not limited to)
 changes in demand for the company's products or franchises, the success or
 failure of individual franchisees and the impact of competitors' actions.
 Should one or more of these risks or uncertainties adversely affect the
 company or should underlying assumptions or estimates prove incorrect,
 actual results may vary materially from those described herein as
 anticipated, believed, estimated, expected or intended.
 
 

SOURCE Noble Roman's, Inc.

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