PIZZA INN, INC.
The decision to change accountants was not the result of any disagreement between the Company and PricewaterhouseCoopers LLP on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures. The letter from PricewaterhouseCoopers LLP agreeing with these statements is being filed today in the Company's Form 8-K related to this announcement.
Dr. F. Jay Taylor, Chairman of the Audit Committee, stated: "Our selection of BDO Seidman, LLP was based on its professional qualifications, the quality of the audit and tax professionals who will be working with us, and its reasonable cost. The quality of the people at PricewaterhouseCoopers and the excellent professional services provided Pizza Inn for many years have made this a very difficult decision to make. However, we decided a change in audit firms was in the best interest of our stockholders.
Due to the auditor transition, the Company's earnings release for the quarter ended September 28, 2003 is tentatively scheduled for the week of October 27, 2003.
The Company is the franchisor and food and supply distributor to more than 400 stores in 20 states and 10 foreign countries.
Pizza Inn, Inc. For more information contact: 3551 Plano Parkway Ronald W. Parker The Colony, TX 75056 President and Chief Executive Officer (469) 384-5000
For more information about the company, visit Pizza Inn at www.pizzainn.com .
SOURCE: Pizza Inn, Inc.
CONTACT: Ronald W. Parker, President and Chief Executive Officer of
Pizza Inn, Inc., +1-469-384-5000
Web site: http://www.pizzainn.com/