[LETTERHEAD OF FIRST GLOBAL SECURITIES, INC.] July 11, 1996 PRESS RELEASE CONTACT: SUSAN TRENHAM AT 818-406-5017 RE: SUMMIT FAMILY RESTAURANTS INC. VS. MERGER WITH CKE PASADENA, CALIFORNIA SUSAN W. TRENHAM, CEO, FIRST GLOBAL SECURITIES INC., TODAY WAS ADVISED BY A MAJOR INSTITUTION THAT ITS VOTES HAD BEEN IMPROPERLY CAST BY I.S.S. (Institutional Stock Services). OTHER INSTITUTIONS WHICH USE I.S.S. AND INTEND TO VOTE AGAINST THE MERGER SHOULD CONTACT ADP SYSTEMS AT 516-254-7521. CKE RESTAURANTS INC. CLOSED TODAY AT $22 1/4 WHICH MEANS THAT SUMMIT SHAREHOLDERS WILL ONLY RECEIVE $4.94, NOT THE $5.38 CALCULATED BY MANAGEMENT ON MONDAY, JULY 8, 1996. THE OPPOSITION GROUP OBJECTED TO THE MERGER BECAUSE IT BELIEVED AMONG OTHER FACTORS THAT THE PRICE OF CKE STOCK WOULD FALL AND GIVE SUMMIT SHAREHOLDERS EVEN LESS VALUE FOR THEIR COMPANY. INSTITUTIONAL INVESTORS WHO HAVE VOTED ELECTRONICALLY NEED TO VERIFY WITH ADP THAT THEIR VOTES WERE PROPERLY VOTED.