Advantica Restaurant Group has announced that it has extended to 5:00pm, New York City time, on 6 March 2002, its offer to exchange up to US$204.1m of registered 12.75% senior notes due 2007 to be jointly issued by Denny's Holdings and Advantica (new notes) for up to US$265m of Advantica's 11.25% senior notes due 2008 (old notes), of which US$529.6m aggregate principal amount is currently outstanding.

The exchange offer was scheduled to expire at 5:00pm, New York City time, on 1 March 2002. Except for the extension of the expiration date, all other terms and provisions of the exchange offer remain as set forth in the exchange offer prospectus previously furnished to the holders of the old notes.

To date, an aggregate of approximately US$63.9m old notes have been tendered for exchange.