Press Releases 2001
For Immediate Release
Contact: James K. Zielke
(316) 634-0505
NASDAQ: TENT
 
Total Entertainment Restaurant Corp. Announces First Quarter Earnings
WICHITA, Kan., April 18, 2001 -- Total Entertainment Restaurant Corp. (Nasdaq:TENT) announced record earnings and revenues for the twelve-week first quarter ended March 20, 2001. Net income increased 22.5% to $1,191,000 ($0.14 per share) for the quarter compared to $972,000 ($0.10 per share) in 2000. Sales increased 20.4% to $16,437,000 for the quarter compared to $13,650,000 in 2000. Comparable store sales increased 6.1% for the first quarter.

Steve Johnson, Chief Executive Officer, stated, "This quarter was highlighted by top-line growth of the business including our eighth consecutive quarter of comp store sales growth and higher average unit volumes in the three units opened last quarter. We plan to open up to seven new units in 2001. One of these units, Ft. Worth, Texas, opened on April 11, 2001, and another unit in Nashville, Tennessee should open next month. In addition, we have leases executed on two additional sites and are actively negotiating leases on six more sites."

During the first quarter the Company repurchased 75,300 shares of its common stock. The Company has repurchased 1,748,889 shares of its common stock under the 2,000,000 share repurchase plan authorized by the Board of Directors.

The Company currently operates 39 entertainment restaurants in 33 markets under the names Fox and Hound English Pub & Grille, Bailey's Sports Grille, and Bailey's Pub & Grille.

This Press Release contains certain forward-looking statements of the Company within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the Company believes the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements contained in the Press Release will prove to be accurate.

                 Total Entertainment Restaurant Corp.
      Unaudited Summary Financial Data for the First Quarter 2001
              ($ in thousands except per share amounts)

                       Condensed Income Statements

                                     For the twelve weeks ended
                                   March 20, 2001   March 21, 2000
                                     $         %       $         %
                                  -------    -----  -------    -----
 Food and beverage                 14,906     90.7   12,269     89.9
 Entertainment and other            1,531      9.3    1,381     10.1
                                  -------    -----  -------    -----
   Total net sales                 16,437    100.0   13,650    100.0

 Costs and expenses:
   Costs of sales                   4,451     27.1    3,544     26.0
   Entertainment and restaurant
    operating expenses              8,025     48.8    6,432     47.2
   Depreciation and amortization      816      5.0      837      6.1
   Preopening costs                    72      0.4        6     --
                                  -------    -----  -------    -----
    Entertainment and restaurant
     costs and expenses            13,364     81.3   10,819     79.3
                                  -------    -----  -------    -----
 Entertainment and restaurant
   operating income                 3,073     18.7    2,831     20.7
 General and
  administrative expenses             867      5.3      958      7.0
 Goodwill amortization                 56      0.3       56      0.4
                                  -------    -----  -------    -----
 Income from operations             2,150     13.1    1,817     13.3
 Other income (expense):
 Loss on disposal of assets           (23)    (0.1)     (26)    (0.2)
 Interest income & other             --       --       --       --
 Interest expense                    (255)    (1.6)    (249)    (1.8)
                                  -------    -----  -------    -----
 Income before taxes                1,872     11.4    1,542     11.3
 Provision for income taxes           681      4.1      570      4.2
                                  -------    -----  -------    -----
 Net income                         1,191      7.3      972      7.1
                                  =======    =====  =======    =====
 Basic and diluted earnings
   per share                         0.14              0.10
                                  =======           =======
 Restaurants open at end
   of period                           38                35

 Comparable sales growth              6.1%              2.5%