Fiesta Restaurant Group, Inc. ("Fiesta" or the "Company") (NASDAQ:FRGI), the owner, operator, and franchisor of the Pollo Tropical® and Taco Cabana® fast-casual restaurant brands, announced today that it has commenced an offer to purchase for cash any and all of the $200 million outstanding principal amount of its 8.875% Senior Secured Second Lien Notes due 2016 (the “Notes”). In conjunction with the tender offer, Fiesta is soliciting consents to effect certain proposed amendments to the indenture governing the Notes and certain security documents. The tender offer and consent solicitation are being made pursuant to an Offer to Purchase and Consent Solicitation Statement, dated November 12, 2013, and a related Consent and Letter of Transmittal, which set forth the terms and conditions of the offer and consent solicitation in full detail. The total consideration to be paid for each $1,000 principal amount of the Notes tendered prior to the expiration of the consent solicitation, and not validly withdrawn, will be $1,062.50. The total consideration includes a consent payment of $30.00 per $1,000 principal amount, which is payable only to holders who tender their Notes and validly deliver their consents prior to the expiration of the consent solicitation. Holders who tender their Notes after the expiration of the consent solicitation, but on or prior to the tender expiration, will receive the tender offer consideration of $1,032.50, which is the total consideration minus the consent payment. The consent solicitation will expire at 5:00 p.m., New York City time, on November 25, 2013, unless terminated or extended. The tender offer will expire at 12:01 a.m., New York City time, on December 11, 2013, unless terminated or extended. Tendering holders will also receive accrued and unpaid interest from the last applicable interest payment date to, but not including, the applicable payment date. Tendered Notes may not be withdrawn and consents may not be revoked after 5:00 p.m., New York City time, on November 25, 2013.