SOURCE: Market Pulse

November 14, 2007 08:30 ET

Market Pulse Breaking News Alert for Wednesday, November 14, 2007: SPKL - Spicy Pickle Announces New Restaurant Opening in Indianapolis and Two New Lease Signings for First Quarter 2008!

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Market Pulse.

ATLANTA, GA--(Marketwire - November 14, 2007) - Market Pulse News Alert for this AM, Stocks to Watch are: Spicy Pickle Franchising, Inc. (OTCBB: SPKL), E-Trade Financial Corp. (NASDAQ: ETFC), Sirius Satellite Radio Inc. (NASDAQ: SIRI) and Wal-Mart Stores Inc. (NYSE: WMT).

Investors need to be watching Spicy Pickle Franchising, Inc. (OTCBB: SPKL) this AM! Spicy Pickle® is engaged in the business of marketing, franchising and operating Spicy Pickle restaurants located throughout the United States. Spicy Pickle is a fast casual restaurant where fresh, made-to-order culinary-inspired panini, submarine style sandwiches, pizzetti (Neapolitan thin crust gourmet pizza), salads and soups with a large international variety of toppings and spreads are served using fresh baked breads and high quality ingredients. Spicy Pickle locations and marketing efforts are directed principally to white collar administrative, managerial, professional, and sales personnel who are willing to pay a little more for better flavor profiles. The company's menu items appeal to diners of all ages and preferences and will soon accommodate breakfast and dinner segments. Spicy Pickle recently added its new catering program, featuring the chain's culinary-inspired subs and panini sandwiches. Spicy Pickle is a unique franchise opportunity. The company offers franchise agreements for single and multiple store owners but prefers single franchisees that can develop multiple stores in their market. These franchisees sign development agreements for multiple stores in a defined geographic area and grant them the exclusive rights to the development area. These include agreements for developers that plan on owning and operating a large number of restaurants over a larger territory (state or larger). As of September 1, 2007, the company had sold just under 100 franchises and developments. Of the franchises sold, 31 restaurants are opened and operating, 8 restaurants are under construction, and there are over 50 more sites that are under area development agreements. The company hopes to open 38 to 40 more restaurants in 12 states by the end of 2007. The company continues to interview prospective franchisees and relies on the cash deposits from the franchise sales as well as royalty fees from the existing stores to support the expenses of the business. The $70 billion fast-casual segment of the restaurant industry is growing fast. Spicy Pickle Franchising is well-positioned to continue to grow their market position in existing and new markets. Spicy Pickle Franchising, Inc. has sufficient capital to carry it forward as they have recently raised $4.5 million. The company's five year plan includes opening 300 stores. The most recent openings to come are in Boulder, CO, Colorado Springs, CO, Ft. Collins Colorado, Mississippi, Indianapolis and Arizona. The company would like to see more development areas like the one in Indianapolis that includes 10 stores or the one in southern California that includes 12 stores. The royalties create a continuous revenue stream and shareholder wealth. A significant amount of value is created for the company with each new franchise added. Spicy Pickle is poised to become a significant player in the fast-casual segment of the restaurant industry! Spicy Pickle just had excellent news out in a press release after Tuesday's bell announcing a new restaurant has opened in the last week, and two new leases have been signed for early 2008 openings! The new opening marks the 31st restaurant in the Spicy Pickle chain! Investors should be watching this one closely!

Spicy Pickle® fast casual restaurants (OTCBB: SPKL) today announced a new restaurant has opened in the last week, and two new leases have been signed for early 2008 openings. The new opening marks the 31st restaurant in the Spicy Pickle® chain. The new lease signings continue the growth momentum into 2008.

In the past week, a second Indianapolis restaurant has opened. It is located at 6020 E. 82nd Street, #1406, Indianapolis, Indiana, phone: (317) 578-8699. The restaurant is located at the newly redeveloped Castleton Simon property, a high-end retail area. This is the second restaurant in the Indianapolis area.

In addition, Spicy Pickle® management disclosed two new leases have been signed for 2007/2008 construction. Both locations are expected to open sometime in the first quarter of 2008.

The first is located in San Diego, California at 1454 Union Street. The restaurant will be located in the area bordering Little Italy and the Downtown Financial District, within 7 minutes of a large population of White Collar Workers. It will be on the ground floor level of a newly constructed condo building, which should lead to significant evening and weekend traffic. The San Diego franchisee has committed to a total of 12 restaurants in the San Diego area.

The second new lease signing will mark the third location in the Austin, Texas area. Located at 1325 E. Whitestone Place, Cedar Park, Texas, this restaurant is in a shopping center adjacent to a major medical center.

Marc Geman, CEO of Spicy Pickle® Franchising, Inc., commented: "The first Indianapolis restaurant is doing very well, and we anticipate the second restaurant will follow suit. We are now starting to make progress on our 2008 construction schedule. Both new lease signings should be open for business sometime in first quarter of '08. There are a number of additional properties in the final stages of negotiation in new states, and we will release their locations when leases have been signed."

By the end of 2007, Spicy Pickle® anticipates it will still be on track to have 38 to 40 restaurants open in 12 states. Over 50 additional franchise development agreements have also been signed.

About Spicy Pickle:

Founded in 1999, Spicy Pickle® Franchising, Inc. (OTCBB: SPKL) serves high quality meats and fine artisan breads, baked fresh daily, along with a wide choice of eight different cheeses, twenty-two different toppings, and fourteen proprietary spreads to create healthy and delicious panini and sub sandwiches with flavors from around the world. As a leading "fast-casual" concept, Spicy Pickle offers menu items that are far beyond traditional fast food -- but without the price point of casual dining. The hallmark of a Spicy Pickle restaurant is quality, service and an enjoyable atmosphere. The company is headquartered in Denver, Colorado, with franchise locations now open across nine states and many more in development nationwide. For more about Spicy Pickle, including franchise information and inquiries, visit

Stocks in the news and acting well as of late include: E-Trade Financial Corp. (NASDAQ: ETFC), Sirius Satellite Radio Inc. (NASDAQ: SIRI) and Wal-Mart Stores Inc. (NYSE: WMT).

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You should be aware that MP is often compensated for issuing analyses, recommendations or opinions concerning particular companies. Its opinion is therefore not unbiased and you should consider this factor when evaluating MP's statements regarding a company. MP has been compensated thirty thousand dollars from Spicy Pickle Franchising, Inc. In addition, MP has been compensated three hundred thousand restricted shares of Spicy Pickle Franchising, Inc. from the company. In 2006, MP acquired two hundred thousand shares of Spicy Pickle Franchising, Inc. directly from the company in a private offering for fifty thousand dollars. These shares were subsequently included in a registration statement filed by the company with the SEC. To date, MP has sold two hundred thousand shares of stock in Spicy Pickle Franchising, Inc. for proceeds totaling one hundred ninety thousand seven hundred dollars. MP's officers and directors reserve the right to buy additional shares of the companies discussed in this opinion and may profit in the event those shares rise in value. When MP receives free trading shares as compensation for a profiled company, MP may sell part or all of any such shares during the period in which MP is performing such services. and Market Pulse Breaking News Alert are owned by Market Pulse LLC.

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