EXHIBIT 99.2


EXCERPT FROM ADVANTICA'S FEBRUARY 17, 2000 PRESS RELEASE ANNOUNCING "ONE
COMPANY, ONE BRAND" STRATEGIC DIRECTION


Investor Contact: Ken Jones                             FOR IMMEDIATE RELEASE
                  864-597-8994

Media Contact:    Karen Randall
                  864-597-8440


               ADVANTICA RESTAURANT GROUP ANNOUNCES "ONE COMPANY,
  ONE BRAND" STRATEGIC DIRECTION WITH FOCUS ON DENNY'S BRAND ONLY; ALSO REPORTS
                             FOURTH QUARTER EARNINGS


        DENNY'S-BRAND-ONLY FOCUS WILL RESULT IN COMPANY'S EXPLORATION OF
          STRATEGIC ALTERNATIVES FOR COCO'S AND CARROWS, AN INCREASE IN
               FRANCHISE ACTIVITY, AND STAFF REDUCTIONS AND OTHER
   MEASURES EXPECTED TO YIELD ANNUALIZED SAVINGS OF APPROXIMATELY $15 MILLION


SPARTANBURG, S.C., February 17, 2000 -- Advantica Restaurant Group, Inc.
(Nasdaq: DINE) today announced that the future direction of the Company will
focus exclusively on its Denny's brand, historically the cornerstone of the
Company and America's largest full service restaurant chain. The
Denny's-brand-only strategy will include efforts to increase significantly the
number of Denny's restaurants owned and operated by franchisees.

The Company has retained the firm of Donaldson, Lufkin & Jenrette Securities
Corporation to commence immediately exploring strategic alternatives, including
a possible sale or recapitalization, for its FRD subsidiary which houses its
Coco's and Carrows brands.

As part of the "One Company, One Brand" strategy, the Company has also taken
initial actions to merge and streamline its corporate overhead structure with
the Denny's organization. Accordingly, James B. Adamson will serve as chairman
and chief executive officer of the Company, and John Romandetti has resigned as
chief executive officer of Denny's. Staff reductions and a new information
systems outsourcing agreement are expected to reduce general and administration
costs by approximately $15 million on an annualized basis.

Adamson said, "Today's announcement is the result of an extensive review of the
Company's operations and structure over the past four months by the Company's
management and Board with the assistance of outside advisors. Denny's continues
to have tremendous brand equity and, as the leading family dining chain,
deserves the full attention of our management and the deployment of our capital
resources. Last year, we began our Denny's Diner 2000 reimage program and
completed 140 units. We are pleased with the overall results to date, and we
plan to continue to reinvest in our restaurants. During 2000, however, we will
develop and test a lower cost alternative in approximately 20 other units. We
expect that the lower cost alternative will have appeal to existing and new
franchisees and will be essential to a successful completion of our reimaging
program system wide.

"We believe that moving to a more franchised-based operation will, over time,
add value for our shareholders. During the next several years, we plan on
refranchising 250 to 300 Company-owned units. Our ultimate goal is for the
Company to retain about 300 units or 40 percent of the current Company-owned
portfolio. The proceeds from the refranchising effort will be used to fund the
reimaging of our remaining Denny's restaurants and to reduce debt.
<PAGE>

"With the strategic direction of the Company focused on Denny's, we have begun
the process of merging corporate administration functions into the Denny's
organization. This process will more closely align operational objectives with
the Advantica management team's corporate objective of enhancing shareholder
value. As a result, certain functions and duplication within functions have been
eliminated. Upon completion of DLJ's engagement with respect to Coco's and
Carrows, and as our Company-owned restaurant units decrease, further general and
administrative expense reductions are expected. Reducing the workforce, while
difficult, is a necessary decision for Advantica at this time. We are committed
to treating our employees fairly. Those employees who are separated from the
Company will be offered severance packages and outplacement services to help
with the transition.

"As we move to our Denny's only focus in the future, we will concentrate our
efforts on improving service levels, enhancing the appearance of facilities and
maintaining and improving food quality, all in an effort to retain our existing
customers, attract new ones and provide customers with an enjoyable dining
occasion on every visit."