Biglari Holdings Inc. News Release

                      Biglari Holdings Inc. News Release

PR Newswire

SAN ANTONIO, TX, Dec. 8, 2012

SAN ANTONIO, TX, Dec.8, 2012 /PRNewswire/ --Biglari Holdings Inc.'s 2012
Annual Report to the shareholders has been posted on the Internet, where it
can be accessed at www.biglariholdings.com. The report includes Sardar
Biglari's annual letter to shareholders.

About Biglari Holdings Inc.

Biglari Holdings Inc. (NYSE: BH) is a holding company engaged in a number of
diverse business activities. The most important operating subsidiaries are
involved in investment management and the franchising and operating of
restaurants.

SOURCE Biglari Holdings Inc.

Website: http://www.biglariholdings.com
Contact: Bruce Lewis, +1-210-344-3400