Granite City Food & Brewery Ltd. Announces Chapter 11 Filing to Facilitate Structured Sale Process

During the pendency of its Chapter 11 case, Granite City plans to discontinue its periodic filings with the OTC Market.  Granite City cautions that trading in its securities during the pendency of its Chapter 11 case is highly speculative and poses substantial risks.  Trading prices for the Company's securities may not bear any substantive relationship to the probable outcome for equity security holders in its Chapter 11 case.  No assurance can be given that, as a result of Granite City's Chapter 11 case, Granite City's equity securities, including common stock and options, will not be cancelled and extinguished without any monetary recovery to the holders thereof.

About Granite City

Granite City Food & Brewery Ltd. operates two casual dining concepts: Granite City Food & Brewery and Cadillac Ranch All American Bar & Grill.  The Granite City concept features its award-winning signature line of hand-crafted beers finished on-site as well as local and regional craft beers from brewers in various markets. In addition, these casual dining restaurants offer a wide variety of menu items that are prepared fresh daily.  The extensive menu features contemporary American fare made in its scratch kitchens.  Granite City opened its first restaurant in 1999; there are currently 25 Granite City restaurants in 13 states.  Cadillac Ranch restaurants feature freshly prepared, authentic, All-American cuisine in a fun, dynamic environment.  Its patrons enjoy a warm, Rock N' Roll inspired atmosphere.  The Cadillac Ranch menu is diverse with offerings ranging from homemade meatloaf to pasta dishes, all freshly prepared using quality ingredients.  The Company currently operates 4 Cadillac Ranch restaurants in 4 states.  Additional information about Granite City Food & Brewery and Cadillac Ranch can be found at www.gcfb.com and www.cadillacranchgroup.com.

Forward-Looking Statements

This press release contains certain statements that are, or may be deemed to be, "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  Statements including the words such as "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "target" or similar expressions are forward-looking statements.  These statements reflect Granite City's current views, expectations and beliefs concerning future events.  In addition, any statements related to Granite City's plans to sell substantially all of its assets pursuant to Chapter 11 of the U.S. Bankruptcy Code; Granite City's intention to continue operating in the ordinary course of business during the Chapter 11 case; Granite City's belief that the sale process will be in the best interest of Granite City and its stakeholders; the continued uninterrupted operation of Granite City's restaurants during the Chapter 11 proceedings; and other statements regarding Granite City's strategy and future operations, performance and prospects are forward-looking statements.  Such plans, expectations and statements are as to future events and are not to be viewed as facts, and reflect various assumptions of management of Granite City and are subject to significant business, financial, economic, operating, competitive, litigation and other risks and uncertainties and contingencies (many of which are difficult to predict and beyond the control of Granite City) that could cause actual results to differ materially from the statements included herein, including, without limitation: the potential adverse impact of the Chapter 11 filings on Granite City's liquidity and results of operations; changes in Granite City's ability to meet its financial obligations during the Chapter 11 process and to maintain contracts that are critical to its operations; the outcome and timing of the Chapter 11 process and the proposed auction and asset sale; the effect of the Chapter 11 filings and proposed asset sale on Granite City's relationships with vendors, regulatory authorities, employees and other third parties; possible proceedings that may be brought by third parties in connection with the Chapter 11 process or the proposed asset sale; uncertainty regarding obtaining Bankruptcy Court approval of a sale of Granite City's assets or other conditions to the proposed asset sale; and the timing or amount of any distributions, if any, to Granite City's stakeholders.  The inclusion of forward-looking statements should not be regarded as a representation by Granite City that any of its plans will be achieved.  Investors should take note that many factors, including those more fully described in Granite City's Chapter 11 filings, could affect Granite City's future financial results and could cause actual results to differ materially from those expressed in forward-looking statements, such as those contained in this press release.  The forward-looking statements in this press release are qualified by risk factors identified herein and in prior OTC reports filed by Granite City.  These risk factors, individually or in the aggregate, could cause our actual results to differ materially from expected and historical results.  You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.  Granite City assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.

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SOURCE Granite City Food & Brewery Ltd.