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Famous Dave's Announces New Audit Firm; Selects Grant Thornton for 2002 Audit

September 30, 2002 at 10:58 AM EDT
MINNEAPOLIS, Sep 30, 2002 (BUSINESS WIRE) -- Famous Dave's of America, Inc. (Nasdaq:DAVE) today announced that it had selected Grant Thornton, LLP as its new audit firm, replacing Virchow Krause & Company, LLP. Grant Thornton's engagement will commence with the 3rd quarter review and 2002 audit.

"We have had an excellent relationship with Virchow Krause and our decision does not, in any way, reflect any dissatisfaction with the work they have performed with us, nor have there been any disagreements relative to their audit work." said Ken Stanecki, Chief Financial Officer of Famous Dave's. "While we do not feel there were any potential conflicts with the new standards being established, we felt it was important to separate the audit engagement with any other accounting or tax related services, much of which will continue to be provided by Virchow Krause. We look forward to our new relationship with Grant Thornton, which we consider to be one of the top firms in the industry."

    About Famous Dave's of America
Famous Dave's of America, Inc. (Nasdaq:DAVE) owns, operates and franchises barbeque restaurants. The company currently owns 38 locations and franchises an additional 31 units in 19 States and has signed development agreements for an additional 97 franchised locations. Its menu features award-winning barbecued and grilled meats, an ample selection of salads, side items, sandwiches and unique desserts.

Certain matters discussed within this press release, including restaurant openings and expansion plans, may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Famous Dave's of America, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from Famous Dave's expectations include outcome of pending litigation, financial performance, restaurant industry conditions, execution of restaurant development and construction programs, changes in local or national economic conditions, availability of financing and other risks detailed from time to time in the company's SEC reports.

CONTACT:          Famous Dave's of America, Inc., Minneapolis
                  Ken Stanecki, 952/294-1300

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