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Pizza Inn, Inc. today reported earnings per share for its third quarter ended March 24 of 5 cents versus 6 cents for the same quarter last year. Net income was $478,000 versus $604,000, on revenues of $15.3 million versus $15.7 million in the previous year. For the nine-month period, earnings per share were 16 cents versus 17 cents last year. Net income was $1,635,000 compared to $1,779,000, on revenues of $48.6 million versus $48.7 million last year. Comparable chainwide same-store sales for the year to date finished flat.

   Pizza Inn, Inc.                      For more information contact:
   3551 Plano Parkway                   Ronald W. Parker
   The Colony, TX  75056                President
                                        (469) 384-5000

For more information about the company, visit Pizza Inn at http://www.pizzainn.com/

                             PIZZA INN, INC.
            (In thousands, except share and per share amounts)

                                              March 24,         March 25,
            3rd Quarter                          2002              2001

  Revenue                                        $15,286           $15,742

  Income before taxes                               $724              $915

  Net Income                                        $478              $604

  Diluted earnings per share                       $0.05             $0.06

  Basic earnings per share                         $0.05             $0.06

  Weighted average shares outstanding:
    Diluted                                   10,057,890        10,609,827
    Basic                                     10,057,890        10,609,236


                                              March 24,         March 25,
            Nine Months                         2002              2001

  Revenue                                        $48,580           $48,685

  Income before taxes                             $2,477            $2,749

  Net Income                                      $1,635            $1,779

  Diluted earnings per share                       $0.16             $0.17

  Basic earnings per share                         $0.16             $0.17

  Weighted average shares outstanding:
    Diluted                                   10,108,364        10,693,119
    Basic                                     10,103,922        10,688,958

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SOURCE: Pizza Inn, Inc.