990746 Juicy Lucy's Files for Protection from Creditors

Ft. Lauderdale, FL - Juicy Lucy's drive-thru hamburger chain, a wholly owned subsidiary of Franchise Management International, Inc., announced that it has decided to seek protection from its creditors by filing a Chapter 11 bankruptcy petition in Federal Court in Tampa, Florida.

According to the Company, its reorganization plan has already been developed, and the Company believes that by operating under the protection of the bankruptcy court, Juicy Lucy's, Inc. will be able to successfully reorganize its affairs and emerge as a viable and profitable company.

As part of the restructure, Henry Orlinsky and Tom Bumgardner are no longer members of the Board of Directors of FMI, and E. Wayne Wallhausen and Mark Novell have left the company. The Company is actively seeking a new CFO.

The operations of FMI exclusive of Juicy Lucy's, Inc. are not affected by the filing.

Franchise Management International, Inc. was founded in 1997 for acquiring, managing, and franchising quick service restaurants. FMI stock is currently trading on the OTC Bulletin Board.

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