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Cracker Barrel Responds to Biglari Demand, Says Execution of Existing Business Stategy is Proper Course of Action

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Cracker Barrel (Nasdaq: CBRL) said today that its Board of Directors has
considered both Sardar Biglari's recent filing and subsequent letter
demanding that the Company commence a sale process, and has determined
that the continued execution of the Company's existing business strategy
is currently the proper course of action for the long-term best
interests of the Company and its shareholders.

Commenting on the decision, James W. Bradford, Chairman of the Board of
Cracker Barrel said: “We are disappointed that Mr. Biglari is seeking to
call a special meeting to vote on a proposal requesting that the Company
commence a sale process, particularly in light of his defeat by

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