Exhibit
99.1





EPL
Intermediate, Inc. Announces Results for the


Year
Ended December 31, 2008





COSTA
MESA, CA -- (BUSINESS WIRE) - March 30, 2009 - EPL Intermediate, Inc. (“El Pollo
Loco” or the “Company”), parent company of El Pollo Loco, Inc., today reported
results for its year ended December 31, 2008.  For purposes of
simplicity, the Company has described the fiscal years ended December 31, 2008
and December 26, 2007 as December 31, 2008 and December 31, 2007,
respectively.





El Pollo
Loco reported operating revenue for the year ended December 31, 2008 of $298.9
million, which is an increase of $19.9 million, or 7.1%, over operating revenues
for the year ended December 31, 2007 of $279.0 million. Operating revenue
includes sales from company-owned stores and revenue earned from our franchise
activities.  The increase in company-operated restaurant revenue is
attributed to several factors, including growth in the number of new company and
franchise-operated restaurants; price increases of 2.0% and 1.2% in January and
October, respectively, and 0.5% in smaller increases taken at different times in
2008; an extra week of sales in 2008 compared to 2007 due to our 53/52 week
years; and a 0.2% increase in same-store sales. El Pollo Loco was able to
achieve growth in company-operated restaurant revenue despite a transaction
decrease of 1.9%, which reflected the higher unemployment and reduced
discretionary spending caused by the current economic crisis.





Same-store
sales for the system (includes both company and franchise locations) and
company-operated stores both increased a modest 0.2% in 2008, also reflecting
the difficult economic environment and intense
competition.  Restaurants enter the comparable restaurant base for
same-store sales the first full week after that restaurant’s 15-month
anniversary.





Changes
in operating expenses in 2008 (during which we had as extra week of operations
compared to 2007) include:





·
            an
      increase in product cost of $8.2 million, or 10.1%, to $89.4 million for
      2008 from $81.2 million for 2007.





Product
costs were 32.1% as a percentage of restaurant revenue for 2008 compared to
31.2% for 2007.  The 0.9% increase in 2008 resulted primarily from
increases in commodity costs, offset partially by menu price increases taken in
2008.





·
            an
      increase in payroll and benefit expenses of $5.6 million, or 8.3%, to
      $73.1 million for 2008 from $67.5 million for 2007.  This
      increase is primarily attributed to more restaurants opened, the
      additional week of salaries of approximately $1.1 million in 2008 since it
      was a 53-week year, and the California minimum wage increase effective
      January 1, 2008.





As a
percentage of restaurant revenue, payroll and benefits expenses increased 0.3%
to 26.3% for 2008 from 26.0% for 2007.






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·
            an
      increase in general and administrative expenses of $9.1 million for the
      2008 period due to a $10.7 million expense in the second quarter to settle
      litigation between El Pollo Loco Mexico, S. A. de C.V. and El Pollo Loco,
      Inc.  Excluding this settlement expense, general and administrative
      expense decreased $1.6 million, or 5.3%, to $28.6 million for 2008 from
      $30.2 million in 2007.





Excluding
the settlement expense, general and administrative expense as a percentage of
restaurant revenue was 10.3% and 11.6% for 2008 and 2007, respectively. 
This percentage decrease in general and administrative expenses was primarily
due to a $2.8 million loss recognized in the 2007 period from the sale of eight
company restaurants that did not occur in the 2008 period. The decrease was also
due to lower bonus expense of $1.9 million as we did not achieve our budget
goals in 2008 and decreased expense for outside services of $0.6 million, which
is primarily attributed to decreased spending on Sarbanes Oxley
compliance.  The decrease in expense was partially offset by a
non-cash impairment charge in the current period of $1.9 million, which was
recorded by the Company for three under-performing company-operated stores that
will continue to operate, and higher salaries and wages of $1.5 million
attributed primarily to increased headcount and the additional week of salaries
of $0.3 million in 2008 since it was a 53-week year.





Due to
the downturn in the economy and its adverse effect on estimated cash flow, and
based on an independent valuation of the Company, El Pollo Loco recorded a
goodwill impairment of $24.5 million and a $17.6 million impairment of domestic
trademarks in 2008.  The impairments recorded in 2008 are non-cash in
nature and do not affect our liquidity, cash flows, or compliance with our
debt covenants.





Primarily
as a result of the litigation settlement and goodwill impairment, operating
income (loss) decreased $53.3 million to ($25.1) million for 2008 from $28.2
million for 2007.





Interest
expense, net of interest income, decreased $3.2 million, or 10.9%, to $26.0
million in 2008 from $29.2 million in 2007.  During 2008, we
repurchased a portion of our 2014 and 2013 Notes, so our average debt balances
for 2008 decreased to $251.9 million compared to $262.2 million for 2007, and
our average interest rate decreased to 9.81% for 2008 from 10.61% for
2007.





Our
provision for income taxes consisted of an income tax benefit of $12.1 million
in 2008 compared to income tax expense of $3.1 million in 2007.





As a
result of the aggregate of $42.1 million in goodwill and domestic trademarks
impairment charges and the $10.7 million litigation settlement expense in 2008,
the Company had a net loss for the year ended December 31, 2008 of $39.5
million, or (14.2%) as a percentage of restaurant revenue, compared to a
net loss of $4.0 million, or (1.6%), for the year ended December 31, 2007.
Excluding these two items, the Company would have had pre-tax net income of $1.3
million compared to the prior year’s pre-tax loss of $0.9 million.





Commenting
on the Company’s 2008 results, Stephen E. Carley, president and CEO of El Pollo
Loco, Inc., said, “During 2008, we experienced an increasingly difficult economy
that drew intense, year round competition from quick service restaurant chains
in the form of widespread discounting and value menus.  Despite these
challenges, we were able to maintain positive system-wide same-store sales
growth for the ninth consecutive year.”




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“As we
anticipated, 2009 is proving to be even more challenging with further
contraction in the economy, a continuing slowdown in consumer spending,
accelerating job losses, and the fiercest competition ever for consumers’
shrinking dollars,” said Carley.  “Additionally, restaurant companies
continue to face increases in commodity costs, along with higher labor costs due
to state and federal minimum wage increases.  While we implemented
menu price increases in January and October of 2008 to partially offset these
cost increases, if inflationary pressures require more aggressive menu price
increases to protect margins, restaurant traffic could continue to be at
risk.”





Carley
added, “Despite the bleak outlook for the U.S. economy in 2009, we are keenly
focused on turning this turbulent time into a defining event that strengthens
our brand.  Our focus in 2009 will be on delivering exceptional guest
service; designing a compelling and less costly restaurant  prototype
to fuel our future growth; developing appealing new products featuring our
citrus-marinated, flame–grilled chicken that fit consumers’ changing lifestyles
and palates; and introducing promotions that deliver the price-value equation
consumers demand during these challenging times.”





Addressing
the Company’s expansion, Mr. Carley said, “We continued our restaurant growth in
2008, opening 30 restaurants; nine are company-owned and 21 are franchised
locations.  Our 2008 development included our first restaurants in
Washington, Oregon, Virginia and Utah.”





El Pollo
Loco’s restaurant count changes for 2008 are as follows:





Company
                  Franchised Stores
                  TotalDecember
      31, 2007
                    Opened
                    Closed
                  157
                    9
                    (1)
                  232
                    21
                    (5)
                  389
                    30
                    (6)December
      31, 2008
                  165
                  248
                  413





In 2009,
the Company plans to open only five company owned locations in an effort to
conserve capital.  The Company expects only seven franchised
restaurants to open in 2009 due in part to the difficulty franchisees are having
in obtaining financing.  Mr. Carley noted, “The current economic
crisis has also affected our franchisees, many of whom have delayed or reduced
the number of new restaurants they plan to open in the future.”





System-wide
Sales




Included
above is system-wide same-store sales information. System-wide sales are a
financial measure that includes sales at all company-owned stores and
franchise-owned stores, as reported by franchisees. Management uses system-wide
sales information internally in connection with store development decisions,
planning and budgeting analyses. Management believes system-wide sales
information is useful in assessing consumer acceptance of the Company’s brand
and facilitates an understanding of financial performance as the Company’s
franchisees pay royalties and contribute to advertising pools based on a
percentage of their sales.




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Safe Harbor
Statement





This news
release contains forward-looking statements, which are statements that do not
relate solely to historical fact.  They include, but are not limited
to, any statement that may predict, forecast, indicate or imply future results,
performance, achievements or events.  They may contain words such as
“believe,” “anticipate,” “expect,” “estimate,” “intend,” “project,” “plan,”
“will,” “should,” “may,” “could” or words or phrases of similar
meaning.  The statements reflect management's current expectations
regarding future events.  Factors that could cause actual results to
differ materially from those expressed or implied by the forward-looking
statements include the adverse impact of economic conditions on our operating
results and financial condition, on our ability to comply with our debt
covenants and on our ability to refinance our existing debt or to obtain
additional financing; our substantial level of indebtedness; food-borne-illness
incidents; negative publicity, whether or not valid; increases in the cost of
chicken;  our dependence upon frequent deliveries of food and other
supplies; our vulnerability to changes in consumer preferences and economic
conditions; our sensitivity to events and conditions in the greater Los Angeles
area, our largest market; our ability to compete successfully with other quick
service and fast casual restaurants; our ability to expand into new markets; our
reliance on our franchisees, who have also been adversely impacted by the
economic crisis; matters relating to labor laws and the adverse impact of
related litigation, including wage and hour class actions; our ability to
support our expanding franchise system; our ability to renew leases at the end
of their term; the impact of applicable federal, state or local government
regulations; our ability to protect our name and logo and other proprietary
information; litigation we face in connection with our operations; and other
risk factors listed from time to time in the Company's reports filed with the
Securities and Exchange Commission.  Statements about the Company’s
past performance are not necessarily indicative of its future
results.  The Company undertakes no obligation to publicly update or
revise any forward-looking statement, whether as the result of new information,
future events or otherwise.





About the
Company





El Pollo
Loco® is the nation’s leading restaurant concept specializing in flame-grilled
chicken.  Headquartered in Costa Mesa, California, El Pollo Loco, Inc.
operates a restaurant system comprised of 165 company-operated and 248
franchised restaurants (as of December 31, 2008) located primarily in
California, with additional restaurants in Arizona, Colorado, Connecticut,
Georgia, Illinois, Massachusetts, Nevada, New Jersey, Oregon, Texas, Utah,
Virginia and Washington.  El Pollo Loco’s menu features the Company’s
signature citrus-marinated, flame-grilled chicken in individual and family-size
meals, along with a variety of contemporary, Mexican-inspired entrees containing
the Company’s signature chicken as the central ingredient, including its
specialty Pollo Bowl® entrees, pollo salads, signature grilled burritos, tacos,
and Chicken Tortilla Soup.  Chicken meals are served with a choice of
corn or flour tortillas, freshly-prepared salsas and an assortment of side
orders.  For more information about the Company, visit www.elpolloloco.com.





###





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Contacts:
            Gary
      Campanaro
            
            Julie
WeeksChief Financial
      Officer
            
            Vice President of
      CommunicationsEl Pollo Loco,
      Inc.
            
            El Pollo Loco,
      Inc.714.599.5155
            
            714.599.5150gcampanaro@elpolloloco.com
            
            jweeks@elpolloloco.com





Summary Financial
Information




















5




EPL
      INTERMEDIATE, INC.(A
      Wholly Owned Subsidiary of El Pollo Loco Holdings, Inc.)CONSOLIDATED
      STATEMENTS OF OPERATIONS(Amounts
      in thousands)
  Years
      EndedDecember
    27,
                              
                              
                              December
      26,
                              
                              
                              December
      31,2006
                              
                              
                              2007
                              
                              
                              2008OPERATING
      REVENUE:Restaurant
      revenue
                              
                              $
                              242,571
                              
                              
                              $
                              259,987
                              
                              
                              $
                              278,343Franchise
      revenue
                              
                              
                              17,317
                              
                              
                              
                              19,038
                              
                              
                              
                              20,587Total
      operating revenue
                              
                              
                              259,888
                              
                              
                              
                              279,025
                              
                              
                              
                              298,930OPERATING
      EXPENSES:Product
      cost
                              
                              
                              76,151
                              
                              
                              
                              81,233
                              
                              
                              
                              89,442Payroll
      and benefits
                              
                              
                              61,601
                              
                              
                              
                              67,545
                              
                              
                              
                              73,139Depreciation
      and amortization
                              
                              
                              10,333
                              
                              
                              
                              11,947
                              
                              
                              
                              13,007Other
      operating expenses
                              
                              
                              81,281
                              
                              
                              
                              90,074
                              
                              
                              
                              106,304Goodwill
      and domestic trademarks impairment
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              42,093Total
      operating expenses
                              
                              
                              229,366
                              
                              
                              
                              250,799
                              
                              
                              
                              323,985OPERATING
      INCOME (LOSS)
                              
                              
                              30,522
                              
                              
                              
                              28,226
                              
                              
                              
                              (25,055
                              )INTEREST
      EXPENSE--Net of interest incomeof
      $413, $384 and $260 for the periods endedDecember
      27, 2006, December 26, 2007and
      December 31, 2008 respectively
                              
                              
                              28,813
                              
                              
                              
                              29,167
                              
                              
                              
                              26,003OTHER
      EXPENSE
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              2,043OTHER
      INCOME
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              (1,570
                              )INCOME
      (LOSS) BEFORE PROVISIONFOR
      INCOME TAXES
                              
                              
                              1,709
                              
                              
                              
                              (941
                              )
                              
                              
                              (51,531
                              )PROVISION
      (BENEFIT) FOR INCOME TAXES
                              
                              
                              1,072
                              
                              
                              
                              3,093
                              
                              
                              
                              (12,050
                              )NET
      INCOME (LOSS)
                              
                              $
                              637
                              
                              
                              $
                              (4,034
                              )
                              
                              $
                              (39,481
                              )





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Fiscal
      Years2006
                        
                        
                        2007
                        
                        
                        2008Income
      Statement Data:Restaurant
      revenue
                        
                        
                        100.0
                        %
                        
                        
                        100.0
                        %
                        
                        
                        100.0
                        %Product
      cost
                        
                        
                        31.4
                        
                        
                        
                        31.2
                        
                        
                        
                        32.1Payroll
      and benefits
                        
                        
                        25.4
                        
                        
                        
                        26.0
                        
                        
                        
                        26.3Depreciation
      and amortization
                        
                        
                        4.3
                        
                        
                        
                        4.6
                        
                        
                        
                        4.7Other
      operating expenses
                        
                        
                        33.5
                        
                        
                        
                        34.6
                        
                        
                        
                        38.2Operating
      income (loss)
                        
                        
                        12.6
                        
                        
                        
                        10.9
                        
                        
                        
                        (9.0
                        )Interest
      expense
                        
                        
                        11.9
                        
                        
                        
                        11.2
                        
                        
                        
                        9.3Income
      (loss) before income taxes
                        
                        
                        0.7
                        
                        
                        
                        (0.4
                        )
                        
                        
                        (18.5
                        )Net
      income (loss)
                        
                        
                        0.3
                        
                        
                        
                        (1.6
                        )
                        
                        
                        (14.2
                        )Supplementary
      Income Statement Data:Restaurant
      other operating expense
                        
                        
                        21.0
                        
                        
                        
                        21.6
                        
                        
                        
                        22.6Franchise
      expense
                        
                        
                        1.4
                        
                        
                        
                        1.4
                        
                        
                        
                        1.5General
      and administrative expense
                        
                        
                        11.1
                        
                        
                        
                        11.6
                        
                        
                        
                        14.1Total
      other operating expenses
                        
                        
                        33.5
                        
                        
                        
                        34.6
                        
                        
                        
                        38.2





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