PIZZA INN ANNOUNCES 1ST QUARTER FINANCIAL RESULTS

THE COLONY, TEXAS -OCTOBER 22, 2004- PIZZA INN, INC. (NASDAQ:PZZI) today
reported earnings per share for its first quarter ended September 26, 2004 of 3
cents versus 5 cents for the same quarter last year. Net income was $285,000
versus $504,000, on revenues of $14.4 million versus $15.4 million in the
previous year. The same quarter last year included higher international
royalties resulting from the collection of approximately $173,000 of previously
unrecorded past due royalties. Comparable same-store sales finished up 0.1% for
the quarter.

Certain statements in this press release, other than historical information, may
be considered forward-looking statements, within the meeting of the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995, and
are subject to various risks, uncertainties and assumptions. Should one or more
of these risks or uncertainties materialize, or should underlying assumptions
prove incorrect, actual results may differ from those anticipated, estimated or
expected. Among the key factors that may have a direct bearing on Pizza Inn's
operating results, performance or financial condition are its ability to
implement its growth strategies, national, regional and local economic
conditions affecting the restaurant industry, competition within each of the
restaurant industries, store sales cannibalization, success of its franchise
operations, negative publicity, fluctuations in quarterly results of operations,
including seasonality, government regulations, weather, commodity, insurance and
labor costs.

Pizza Inn, Inc. is headquartered in The Colony, Texas, along with its
distribution division, Norco Restaurant Distribution Services. Pizza Inn
represents over 400 restaurants with annual sales of approximately $170 million.