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To: GARY P GROBBEL who wrote (15610)	12/4/2003 11:03:34 AM
From: GARY P GROBBEL	Read Replies (1) \| Respond to of 120415

NROM 1.40/1.50..i rarely invest in food/resturant companies but we have talked twice with these guys and like their strategy...and their numbers are ramping up nicely incl over $1m in profits for the 9mo...new deals have been announced ref more installs at hospitals etc...and their business model should keep generating more rev and profits: B: Noble Roman's Announces 3rd Quarter Earnings Up 89% B: Noble Roman's Announces 3rd Quarter Earnings Up 89% INDIANAPOLIS, Nov 05, 2003 /PRNewswire-FirstCall via Comtex/ -- Noble Roman's, Inc. (OTC Bulletin Board: NROM), the Indianapolis based franchisor of pizza focused foodservice operations, today announced earnings for the quarter ended September 30, 2003. For the quarter ended September 30, 2003, the company reported a net income of $357 thousand, or $.02 per share on 16.2 million average shares outstanding. This compares to a net income of $189 thousand, or $.01 per share, for an increase of 89.1%, for the same period in 2002. Total revenues for the quarter ended September 30, 2003 were $1.984 million compared to $1.785 million for an increase of 11.2% for the same period in 2002. The growth in revenue reflects the continued growth of the company's franchising efforts. For the nine-month period ended September 30, 2003, the company reported a net income of $1.019 million, or $.06 per share, compared to a net income of $552 thousand, or $.03 per share, for an increase of 84.6% for the same period in 2002. Total revenues for the nine-month period ended September 30, 2003 were $5.692 million compared to $4.807 million for an increase of 18.4% for the same period in 2002. Since 1997 the company has been selling franchises in such non-traditional locations as universities, various types of entertainment facilities, military bases, airports, convenience stores, travel plazas, commercial facilities, hotels and as a co-brand with other traditional restaurants. Noble Roman's now has franchises located in 44 states plus Washington, D.C., Guam, Puerto Rico, Italy, Spain and Canada. Recently, the company has expanded its targeted venues to include retail foodservice for hospitals. One of the most recent openings was on the Marine Corps Air Station New River in Jacksonville, North Carolina. According to Scott Mobley, president of Noble Roman's, "Although this location has only been open for a few days, thus far sales have exceeded our expectations." The company is also planning for additional military base openings soon in Beaufort, SC, Point Mugu, CA and in Gaeta, Italy. The company recently announced contracts for nine additional hospital locations, which are in the process of opening over the next 45 days. This will make a total of 11 hospital locations including such hospitals as Johns Hopkins Hospital and Outpatient Clinic, George Washington University Hospital and the Washington Hospital Center.