Foodbuy.com (http://www.foodbuy.com), a leading e-services firm dedicated to all segments of the foodservice industry, today announced that its client, Friendly Ice Cream Corporation (http://www.friendlys.com; AMEX: FRN), is enjoying savings today of $8-10 K per month, which is more than $100,000 per year in cost of goods. Friendly's has selected and is utilizing foodbuy.com as its rebate management group.

Located in Wilbraham, Mass., Friendly's is a casual, full-service, family-oriented restaurant/ice cream shoppe and premium retail ice cream brand. The company utilizes foodbuy.com's comprehensive tracking and monitoring services as an extension of their current price verification process to ensure it effectively manages and reduces expenses for all locations.

As a result of foodbuy.com's recent acquisition of Foodservice.com, Friendly's is also able to take advantage of foodbuy.com's other services, including an online community that provides a forum for sharing information, honoring industry excellence and providing current news and trends. The acquisition establishes foodbuy.com as the first and only portal offering a one-stop-shop of services--everything from industry information to job listings, technology news and e-commerce services--that will help foodservice manufacturers, distributors and operators conduct business efficiently and cost-effectively via the Internet.

"We are excited about the savings that foodbuy.com has helped us achieve by effectively managing the rebate process," said Steve Feyman, vice president of Purchasing, Friendly's. "Foodbuy.com has already delivered results to the bottom line that immediately benefit our entire organization. Though Friendly's manufactures and distributes our own products to our restaurants, it is still necessary for us to be cost-effective when making purchasing decisions, and foodbuy.com has exceeded our expectations in enabling this."

"Friendly's extraordinary success unequivocally demonstrates that whether a company plays one role or all in the supply chain, saving money and increasing efficiency is key to survival," said Scott MacLellan, president and CEO, foodbuy.com. "We're pleased to play such a significant role in these cost savings. Friendly's is not only making its business better by implementing these new programs, but also demonstrating a new way to do business in the industry."

Foodbuy.com's Rebate Management Service

Foodbuy.com relieves Friendly's of the labor intensive, time-consuming burden of managing its multi-million-dollar annual food purchases. Friendly's yields significant cost savings of more than $100,000 annually in cost of goods by utilizing foodbuy.com's Rebate Management Service. Foodbuy.com's Rebate Management Service tracks and manages all of Friendly's rebates and facilitates quarterly distribution payments.

About Friendly Ice Cream Corporation

Friendly's is a full-service restaurant operator operating in 16 states with a high concentration in the Northeast. Friendly's has 486 Company operated and 106 franchised restaurants. Friendly's also has a leading position in premium frozen dessert sales in the Northeast while manufacturing a complete line of packaged frozen desserts distributed through more than 5,000 supermarkets and other retail locations. Friendly Ice Cream Corporation is a publicly traded company trading on AMEX under the symbol: FRN.

About foodbuy.com

Foodbuy.com is a leading provider of business-to-business e-commerce services for the $150 billion foodservice marketplace. The company, which has more than $1.4 billion in aggregated purchasing power, offers foodservice operators, distributors and manufacturers a comprehensive suite of online services, which includes an e-Marketplace, content, community, data management services and group purchasing, that optimize the way their organizations operate.

Foodbuy is headquartered in Atlanta, Ga., and has a growing group of investors including CMGI @Ventures, CMGI's venture capital affiliate and Morrison Management Specialists Inc. For more information, visit the company's Web site at www.foodbuy.com or call 800-896-4442.