American Securities Capital Partners, L.P. Announces Agreement to Sell El Pollo Loco

As the nation's leading quick-service restaurant chain specializing in flame-grilled chicken, El Pollo Loco has a consistent and impressive performance record. The company's five-year same store sales growth has outpaced both the fast casual and quick-service restaurant industry averages, and El Pollo Loco enjoys one of the highest per unit sales volumes in the quick-service restaurant segment. In the second quarter of fiscal 2005, which ended June 29, 2005, same stores sales for the system, which includes sales from both company-operated and franchised restaurants, increased 9.4%.

American Securities Capital Partners, L.P. purchased El Pollo Loco from (then) Advantica Restaurant Group in December of 1999. "We partner with profitable and specially positioned companies and work with their management teams to generate long-term capital appreciation," said Glenn Kaufman, Managing Director of American Securities Capital Partners, L.P. "El Pollo Loco has been a classic success story. Not only has the company been a very successful investment for us, our relationship with the El Pollo Loco team has given us the opportunity to work alongside the finest leaders in the restaurant industry."

Through continued and long-term focus on operational investment and strategic growth during its time with American Securities, El Pollo Loco has substantially improved restaurant level operating performance while more than doubling the company's profitability. "The heritage of our firm is in building great enterprises. We are completely committed to working as partners with managers to build businesses that are far better operationally, financially and competitively when we exit than when we initially invested," added Mr. Kaufman. "Our El Pollo Loco experience is a perfect example of our business philosophy."

El Pollo Loco President and CEO, Stephen E. Carley, reiterates the strength of his company's nearly six-year relationship with American Securities. "We couldn't be more pleased with our partnership with American Securities," he said. "Their direction, guidance and support have enabled us to significantly and dramatically improve virtually every aspect of the El Pollo Loco business. We wish American Securities continued success in their investment opportunities and value the integrity and thought leadership they have provided us through the years."

El Pollo Loco currently operates 328 restaurants: 139 are owned and operated by the company; 189 are owned by franchisees. The restaurants are currently located in four states- California, Arizona, Nevada and Texas, with the first Chicago restaurant scheduled to open in mid-October, 2005. As part of its plans to expand nationwide, El Pollo Loco has a strong pipeline of company-owned and franchise restaurants in California, Colorado, New England, New Jersey, New York, Oregon, Texas and Washington, D.C.