|Sets Timing of Earnings Release
& Conference Call
|-------------------------------------------------



|MINNEAPOLIS, July 7 /PRNewswire-FirstCall/
       
      Famous Daves of America, Inc. (Nasdaq: DAVE) today announced that
      it reported revenues of approximately $25.9 million for the 2nd quarter
      of 2003, a 7.2% increase over the 2nd quarter of 2002. Comparable sales
      for the 2nd quarter decreased 1.7% at company-operated restaurants and decreased
      9.1% for franchise-operated restaurants. Through the first two quarters,
      comparable sales decreased 2.2% at company-operated restaurants and decreased
      8.6% at franchise-operated restaurants. There are 31 company-operated restaurants
      and 20 franchise-operated restaurants in the comparable sales base.
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|The Company
indicated that comparable sales were  weakest during April, due  primarily to the shift
of the Easter holiday, and improved  through the rest of  the quarter.  Negative
comparable sales at franchise-operated  restaurants were  driven primarily by results at
four of the 20 restaurants in the base  including planned cannibalization in one market.
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|Restaurant
Development  Six new Famous Daves  restaurants opened during  the quarter
including two company-operated and four  franchise-operated.  The  company-operated
restaurants opened in Richmond, Virginia and  Rogers,  Arkansas.  The franchise-operated
restaurants opened in Westland, Michigan;  Brick, New Jersey; Kansas City, Kansas and
Hillsborough, New Jersey. There are  currently  83 Famous Daves restaurants
including 43 company-operated and 40  franchise-operated. The Company also has signed
Area Development Agreements  for an  additional 149 franchise restaurants.  Three new
Area Development  Agreements were signed  during the quarter, covering the Seattle
market,  Colorado and North Carolina.
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|Change in Board of
Directors  The Company  announced that Thomas Brosig  has resigned his position on
the Board of Directors for  personal reasons.  The  Company has retained a search
consultant to recruit a new board  member and  expects to make an announcement regarding
a replacement in the near future.
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|Earnings Release
 Famous Daves will  release financial results for the  2nd quarter at 3:15
p.m. Central Time on Tuesday, July  22, 2003 with a  conference call to follow at 4:00
p.m. Central Time.
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|The company
invites all those interested in  hearing managements  discussion of the quarter to
join the call by dialing (800)  362-0871;  Conference ID Famous.  A replay
will be available for one week  following the  call by dialing (888) 276-5315.
Participants may also access a live web  cast  of the conference call through the
investor relations section of Famous Daves  web site at www.famousdaves.com .
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|Additional detail on 2nd quarter and
year-to-date revenues is as follows:
|-------------------------------------------------------------------------

|2nd Quarter            | 2003        | 2002 | Pct Change 
|---------------------- | ----------- | ---- | -----------
|Restaurant Revenues    | $24,520,000 |      | $22,870,000
|Franchise Royalties    | 1,086,000   |      | 758,000    
|Franchise Fees         | 260,000     |      | 495,000    
|Licensing Royalties    | 72,000      |      | 84,000     
|Total Revenues         | $25,938,000 |      | $24,207,000
|Average Weekly Revenue |             |      |            
| Company-operated     | $45,625     |      | $50,328    
| Franchise-operated   | $48,848     |      | $51,464    
|                       |             |      |            
|Year-To-Date           | 2003        | 2002 | Pct Change 
|Restaurant Revenues    | $46,413,000 |      | $43,358,000
|Franchise Royalties    | 1,918,000   |      | 1,326,000  
|Franchise Fees         | 499,000     |      | 600,000    
|Licensing Royalties    | 114,000     |      | 129,000    
|Total Revenues         | $48,945,000 |      | $45,413,000
|Average Weekly Revenue |             |      |            
| Company-operated     | $43,604     |      | $47,729    
| Franchise-operated   | $45,842     |      | $48,387    



|Famous Daves
of America, Inc. (Nasdaq: DAVE) owns, operates and  franchises barbeque restaurants. The
company currently owns 43 locations and  franchises an additional 40 units in 23 states.
The Company also has signed  Area Development Agreements for an additional 149 franchise
restaurants.  Its  menu features award-winning barbecued and grilled meats, an ample
selection of  salads, side items, sandwiches and unique desserts.
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|Certain matters
discussed within this press release, including statements  regarding revenue and profit
forecasts, new restaurant sites, restaurant  openings and expansion plans, are
forward-looking statements within the  meaning of the Private Securities Litigation
Reform Act of 1995. Although  Famous Daves of America, Inc. believes the
expectation reflected in any  forward-looking statements are based on reasonable
assumptions, it can give no  assurance that its expectation will be attained. Factors
that could cause  actual results to differ materially from Famous Daves expectation
include  financial performance, restaurant industry conditions, execution of restaurant
development and construction programs, changes in local or national economic  conditions,
availability of financing, outcome of pending litigation and other  risks detailed from
time to time in the companys SEC reports.
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