Biglari Holdings Inc. News Release

                      Biglari Holdings Inc. News Release

PR Newswire

SAN ANTONIO, TX, Nov. 2, 2012

SAN ANTONIO, TX, Nov. 2, 2012 /PRNewswire/ --Biglari Holdings Inc. (NYSE: BH)
(the "Company") announced today that it has decided to delay the special
meeting of shareholders of the Company presently scheduled for November 2,
2012 (the "Special Meeting") until Friday, December 14, 2012 at 2:00 p.m.,
Central Standard Time, at Eilan Hotel, 17103 La Cantera Parkway, San Antonio,
Texas 78256. The record date for the postponed meeting remains October 5,

The Company encourages all shareholders who have not yet voted to do so now.
Your vote is important. Please contact Morrow & Co., LLC, the Company's proxy
solicitation agent for the Special Meeting, at (800) 607-0088 with any

Other Important Information

The Company filed a definitive Proxy Statement for the Special Meeting with
the Securities and Exchange Commission (the "SEC") on October 5, 2012.
Shareholders are urged to read the Proxy Statement, as well as other documents
filed with the SEC, because they contain important information. The definitive
Proxy Statement, additional proxy soliciting materials and other documents
filed with the SEC concerning the Company are available free of charge at the
Company's website ( under the headings "Special
Meeting Information" and "SEC Filings," at the SEC's website (, or
by contacting Morrow & Co., LLC at (800) 607-0088.

Risks Associated with Forward-Looking Statements

This news release may include "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995 and other federal
securities laws. These statements which may concern anticipated future results
are based on current expectations and are subject to a number of risks and
uncertainties that could cause actual results to differ markedly from those
projected or discussed here. The Company cautions readers not to place undue
reliance upon any such forward-looking statements, for actual results may
differ materially from expectations. The Company does not update publicly or
revise any forward-looking statements even if experience or future changes
make it clear that any projected results expressed or implied therein will not
be realized. Further information on the types of factors that could affect the
Company and its business can be found in the Company's filings with the SEC.

SOURCE Biglari Holdings Inc.

Contact: Bruce Lewis, +1-210-344-3400
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