DALLAS, Jun 11, 2008 (BUSINESS WIRE) ----Dave & Buster's, Inc., a leading operator of high volume entertainment/dining complexes, today announced results for its first quarter ended May 4, 2008.

Total revenues increased 5.2% to $142.5 million in the first quarter of 2008, compared to $135.5 million in the first quarter of 2007. This revenue growth was comprised primarily of a 3.8% increase in comparable store sales. Total Food and Beverage revenues increased 1.1%, while revenues from Amusements and Other increased 10.0%.

EBITDA (Modified) for the first quarter of 2008 increased to $27.2 million from $18.8 million in the first quarter of 2007. Adjusted EBITDA, which excludes non-recurring charges, increased 23.6% to $27.7 million versus $22.4 million in the first quarter of 2007.

"We are excited that the sales growth and margin momentum from last year continued through the first quarter of 2008," said Steve King, Chief Executive Officer. "We are particularly encouraged by our exceptionally strong amusement sales."

Non-GAAP Financial Measures

A reconciliation of EBITDA (Modified) and Adjusted EBITDA to net income, the most directly comparable financial measure presented in accordance with GAAP, is set forth in the attachment to this release.

The Company will hold a conference call to discuss first quarter results on Wednesday, June 11, 2008, at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). To participate in the conference call, please dial (866) 765-2661 a few minutes prior to the start time and reference conference ID # 50814879. Additionally, a live and archived webcast of the conference call will be available on the Company's Web site, www.daveandbusters.com.

Celebrating over 25 years of operations, Dave & Buster's was founded in 1982 and is one of the country's premier entertainment/dining concepts with 49 locations throughout the United States and in Canada. More information on the Company is available on the Company's website, www.daveandbusters.com.

The statements contained in this release that are not historical facts are forward-looking statements. These forward-looking statements involve risks and uncertainties and, consequently, could be affected by our level of indebtedness, general business and economic conditions, the impact of competition, the seasonality of the company's business, adverse weather conditions, future commodity prices, guest and employee complaints and litigation, fuel and utility costs, labor costs and availability, changes in consumer spending, changes in demographic trends, unfavorable publicity, our ability to open new complexes, acts of God, and governmental regulations.

 DAVE & BUSTER'S, INC. Condensed Consolidated Balance Sheets (in thousands)
   May 4, February 3, ASSETS 2008 2008 ----------- ----------- (unaudited) (audited) Current assets: Cash and cash equivalents
   $ 17,911 $ 19,046 Other current assets 32,217 31,494 ----------- ----------- Total current assets 50,128 50,540 Property and
   equipment, net 292,590 296,974 Intangible and other assets, net 148,055 148,689 ----------- ----------- Total assets $ 490,773
   $ 496,203 =========== =========== LIABILITIES AND STOCKHOLDERS' EQUITY Total current liabilities $ 70,787 $ 81,206 Other long-term
   liabilities 82,063 81,866 Long-term debt, less current liabilities 242,125 242,375 Stockholders' equity 95,798 90,756 -----------
   ----------- Total liabilities and stockholders' equity $ 490,733 $ 496,203 =========== =========== 

 DAVE &
   BUSTER'S, INC. Consolidated Statements of Operations (dollars in thousands) (unaudited) 13 Weeks Ended 13 Weeks Ended May
   4, 2008 May 6, 2007 --------------- ----------------- Food and beverage revenues $ 74,665 52.4% $ 73,824 54.5% Amusement and
   other revenues 67,798 47.6% 61,638 45.5% -------- ------ --------- ------- Total revenues 142,463 100.0% 135,462 100.0% Cost
   of products 27,095 19.0% 26,637 19.7% Store operating expenses 80,051 56.2% 77,884 57.5% General and administrative expenses
   8,482 6.0% 12,719 9.4% Depreciation and amortization 12,439 8.7% 12,603 9.3% Startup costs 282 0.2% 59 0.0% -------- ------
   --------- ------- Total operating expenses 128,349 90.1% 129,902 95.9% Operating income 14,114 9.9% 5,560 4.1% Interest expense,
   net 6,146 4.3% 7,574 5.6% -------- ------ --------- ------- Income (loss) before provision for income taxes 7,968 5.6% (2,014)
   (1.5)% Provision (benefit) for income taxes 2,958 2.1% (1,177) (0.9)% -------- ------ --------- ------- Net income (loss)
   $ 5,010 3.5% $ (837) (0.6)% ======== ====== ========= ======= Other information: Company operated stores open at end of period
   49 48 The following table sets forth a reconciliation of net loss to EBITDA (Modified) and Adjusted EBITDA for the periods
   shown: Total net income (loss) $ 5,010 $ (837) Add back: Provision (benefit) for income taxes 2,958 (1,177) Interest expense,
   net 6,146 7,574 Depreciation and amortization 12,439 12,603 Loss on asset disposal 382 184 Stock-based compensation 295 484
   -------- --------- EBITDA (Modified) (1) 27,230 18,831 -------- --------- Add back: Startup costs 282 59 Wellspring expense
   reimbursement 188 188 Non-recurring Expenses: Change in control expense - 3,337 -------- --------- Adjusted EBITDA (1) $ 27,700
   $ 22,415 ======== ========= 

NOTE

(1) EBITDA (Modified), a non-GAAP measure, is defined as net income (loss) before income tax expense (benefit), interest expense (net), depreciation, amortization, loss (gain) on asset disposal and stock-based compensation expense. Adjusted EBITDA, also a non-GAAP measure, is defined as EBITDA (Modified) plus startup costs, Wellspring expense reimbursement, non-cash and non-recurring charges. The company believes that EBITDA (Modified) and Adjusted EBITDA (collectively, "EBITDA - Based Measures") provide useful information to debt holders regarding the Company's operating performance and its capacity to incur and service debt and fund capital expenditures. The Company believes that the EBITDA - Based Measures are used by many investors, analysts and rating agencies as a measure of performance. In addition, Adjusted EBITDA is approximately equal to "Consolidated EBITDA" as defined in our Senior Credit Facility and indentures relating to the Company's senior notes. Neither of the EBITDA - Based Measures is defined by GAAP and neither should be considered in isolation or as an alternative to other financial data prepared in accordance with GAAP or as an indicator of the Company's operating performance. EBITDA (Modified) and Adjusted EBITDA as defined in this release may differ from similarly titled measures presented by other companies.

SOURCE: Dave & Buster's, Inc.

Halliburton Investor Relations Jeff Elliott
   or Geralyn DeBusk, 972-458-8000 

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