DEERFIELD, IL -- (Marketwire) -- 01/23/09 -- Così, Inc. (NASDAQ: COSI), the premium convenience restaurant company, today reported that total revenues for the 2008 fourth quarter declined 7.3% to $30,734,700 from $33,519,500 in the 2007 quarter. Company-owned net restaurant revenues, excluding discontinued operations, decreased 8.0% in the quarter to $29,859,400, compared to $32,455,500 in the previous year's quarter. Franchise fees and royalty revenues contributed $875,300 in the quarter compared to $693,800 in the 2007 quarter. System-wide comparable restaurant sales for the 2008 fourth quarter as measured for restaurants in operation for more than 15 months recorded an aggregate 6.9% decrease over the 2007 fourth quarter. The breakdown in comparable sales between Company-owned and franchise-operated restaurants are as follows:

                        For the 13 weeks ended
                           December 29, 2008
Company-owned                   (6.2%)
Franchise-operated             (10.5%)
Total System                    (6.9%)

Revenues for the 2008 full year increased 0.8% to $135,579,100 from $134,556,300 in 2007. Company-owned net restaurant revenues, excluding discontinued operations, grew 0.1% in 2008 to $132,501,000, compared to $132,414,100 in the previous year. Franchise fees and royalty revenues contributed $3,078,100 compared to $2,142,200 in 2007. For the 2008 full year, system-wide comparable restaurant sales recorded an aggregate 1.1% decrease over the previous year broken down between Company-owned and franchise-operated restaurants as follows:

                      For the fiscal year ended
                            December 29, 2008
Company-owned                   (0.9%)
Franchise-operated              (2.7%)
Total System                    (1.1%)

"In this very challenging economic environment we remain focused on working collaboratively with our company and franchise partners to drive revenue growth and operating margin improvements while providing each and every guest a great experience." said James Hyatt, President and Chief Executive Officer.

Company-owned comparable sales are based on sales from restaurants that have been open more than 15 months. Franchise-operated comparable sales are based on sales, as reported by franchisees, from restaurants that have been open more than 15 months.

Franchise-operated and system-wide comparable restaurant sales percentages are non-GAAP measures, which should not be considered in isolation or as a substitute for other measures of performance prepared in accordance with GAAP and may not be comparable to system-wide sales as defined or used by other companies. Così does not record franchise-operated sales as revenues.