Denny's Establishes New $250 Million Credit Facility and Increases Share Repurchase Program

Denny's Establishes New $250 Million Credit Facility and Increases Share
Repurchase Program

      Expects Annualized Interest Savings of Approximately $1.3 Million

          Authorizes Additional 10 Million Shares to be Repurchased

SPARTANBURG, S.C., April 25, 2013 (GLOBE NEWSWIRE) -- Denny's Corporation
(Nasdaq:DENN), one of America's largest full-service family restaurant chains,
today announced that it has entered into a new five-year $250 million senior
secured bank credit facility, comprised of a $60 million term loan and a $190
million revolving line of credit. At the time of closing there were $105
million of borrowings under the new revolving line of credit.

The refinanced facility has a reduced interest rate starting at LIBOR plus 200
basis points for the term loan and revolver compared to the prior facility
which had an interest rate of LIBOR plus 275 basis points. The term loan will
be amortized 5% per year in the first two years, 7.5% in the subsequent two
years and 10% in the fifth year with the balance due at maturity. This
translates to minimum payments of $3 million to $6 million per year, compared
toits old facility which had a $19 million per year amortization
requirement.In addition, the Company will have the opportunity to further
reduce the interest rates on the facility by achieving lower leverage ratios
which would also result in further enhancing its financial flexibility.

The refinancing is expected to result in annualized interest expense savings
of approximately $1.3 million.The Company estimates that the closing of its
new bank facility will result in a one-time charge to other nonoperating
expense of approximately $1.2 million in the second quarter of 2013, as a
result of charges for the unamortized portion of deferred financing costs
related to the prior facility and portion of the fees related to the new

New Share Repurchase Authorization

The Company's Board of Directors approved a new share repurchase program
authorizing the repurchase of an additional 10 million shares of its Common
Stock, in addition to repurchases previously authorized.Under this
authorization, the Company may purchase its Common Stock from time to time in
the open market or in privately negotiated transactions. The amount and timing
of any purchases will depend upon a number of factors, including the price and
availability of the Company's shares, trading volume and general market

Mark Wolfinger, Executive Vice President, Chief Administrative Officer and
Chief Financial Officer, stated, "Our new credit facility and share repurchase
authorization are testaments to the tremendous progress Denny's has made over
the past several years with its franchise-focused business model, resulting in
a much stronger balance sheet, supported by growing profitability and free
cash flow.In addition to reducing interest costs, this refinancing provides
increased flexibility for the Company to continue to return cash to
shareholders while also enhancing our ability to make appropriate investments
in the brand to facilitate franchisee growth."

Wells Fargo Securities, LLC, Regions Capital Markets, a division of Regions
Bank, and GE Capital Markets, Inc. served as the Joint Lead Arrangers and
Joint Bookrunners for the new credit facility with Wells Fargo Bank, N. A.,
serving as Administrative Agent and L/C Issuer, and Cadence Bank, Fifth Third
Bank, and RBS Citizens, N.A. serving as Co-Documentation Agents.

The Company, as of April 24, 2013, has repurchased a total of 12.6 million
shares since initiating its share repurchase program and has 2.4 million
shares remaining to be purchased under its current six million share stock
repurchase program announced in May 2012.As of March 27, 2013, the Company
had 92,464,275 shares of common stock outstanding.

About Denny's

Denny's is the franchisor and operator of one of America's largest
full-service restaurant chains, based on number of restaurants. Denny's
currently has 1,688 franchised, licensed, and company restaurants around the
world with combined sales of $2.5 billion including 1,590 restaurants in the
United States and 98 restaurants in Canada, Costa Rica, Mexico, Honduras,
Guam, Curaçao, Puerto Rico, Dominican Republic and New Zealand. As of
December 26, 2012, 1,524 of Denny's restaurants were franchised and 164
restaurants were company operated. For further information on Denny's,
including news releases, links to SEC filings and other financial information,
please visit the Denny's investor relations website at

Forward Looking Statements

The Company urges caution in considering its current trends and any outlook on
earnings disclosed in this press release.In addition, certain matters
discussed in this release may constitute forward-looking statements.These
forward-looking statements, which reflectits best judgment based on factors
currently known, are intended to speak only as of the date such statements are
made and involve risks, uncertainties, and other factors that may cause the
actual performance of Denny's Corporation, its subsidiaries and underlying
restaurants to be materially different from the performance indicated or
implied by such statements.Words such as "expects", "anticipates",
"believes", "intends", "plans", "hopes", and variations of such words and
similar expressions are intended to identify such forward-looking
statements.Except as may be required by law, the Company expressly disclaims
any obligation to update these forward-looking statements to reflect events or
circumstances after the date of this release or to reflect the occurrence of
unanticipated events.Factors that could cause actual performance to differ
materially from the performance indicated by these forward-looking statements
include, among others:the competitive pressures from within the restaurant
industry; the level of success of the Company's strategic and operating
initiatives, advertising and promotional efforts; adverse publicity; changes
in business strategy or development plans; terms and availability of capital;
regional weather conditions; overall changes in the general economy,
particularly at the retail level; political environment (including acts of war
and terrorism); and other factors from time to time set forth in the Company's
SEC reports and other filings, including but not limited to the discussion in
Management's Discussion and Analysis and the risks identified in Item 1A. Risk
Factors contained in the Company's Annual Report on Form 10-K for the year
ended December 26, 2012 (and in the Company's subsequent quarterly reports on
Form 10-Q).

CONTACT: Investor Contact:
         Whit Kincaid
         Media Contact:
         Liz DiTrapano, ICR

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