Press Release dated September 28, 2006 For Immediate Release September 28, 2006 BOWL AMERICA REPORTS EARNINGS Bowl America Incorporated earnings comparisons for the fiscal year ended July 2, 2006, suffered because the prior year included a 53rd fiscal week, reported in the fourth quarter, and a $.02 per share after-tax profit from the AT&T Wireless merger. Although operating revenues in fiscal 2006 increased, expenses, including depreciation expense related to a new location opened in the third quarter, increased at a higher rate. Net earnings for fiscal year 2006 declined to $.71 per share from $.75 in 2005. Fourth quarter earnings were $.12 and $.18 in the current and prior years, respectively. A more detailed explanation of results is available in the Company's S.E.C. Form 10-K filing available through the website www.bowlamericainc.com. Fiscal year 2006 was the 34th consecutive year of increased dividends per share. Fiscal 2007 has started strong with July and August showing improvement over last year. In addition, the year will include 12 months of results from the Company's newest location. Bowl America operates 19 bowling centers and its stock trades on the American Stock Exchange with the symbol BWLA. *** Bowl America Incorporated Results of Operations (Unaudited) Thirteen Fourteen Fifty-two Fifty-three weeks ended weeks ended weeks ended weeks ended 07/02/06 07/03/05 07/02/06 07/03/05 Operating Revenues Bowling and other $5,004,601 $4,984,097 $21,635,492 $20,428,291 Food, beverage and merchandise sales 2,032,118 2,015,415 8,684,759 8,178,854 TOTAL REVENUES $7,036,719 $6,999,512 $30,320,251 $28,607,145 Operating expenses excluding depreciation and amortization 5,864,506 5,613,732 23,744,476 21,971,957 Depreciation and amortization 485,197 258,556 1,665,637 1,463,188 Investment earnings - - - 151,817 Net gain on sale of Assets 23,028 65,531 23,028 65,531 Interest and dividend income 173,262 186,566 655,818 609,963 Earnings before taxes 883,306 1,379,321 5,588,984 5,999,311 Net Earnings $ 621,897 $ 907,291 $ 3,639,575 $ 3,849,281 Weighted average shares outstanding 5,136,925 5,137,773 5,136,968 5,137,773 EARNINGS PER SHARE .12 .18 .71 .75 Summary of Financial Position Dollars in Thousands 07/02/06 07/03/05 ASSETS Total current assets including cash and short-term investments of $9,046 & $12,980 $10,860 $14,231 Property and investments 32,270 28,318 TOTAL ASSETS $43,130 $42,549 LIABILITIES AND STOCKHOLDERS' EQUITY Total current liabilities $ 3,240 $ 3,598 Other liabilities 2,801 2,759 Stockholders' equity 37,089 36,192 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $43,130 $42,549