Exhibit 99


                SHONEY'S, INC. AMENDS RIGHTS AGREEMENT


     Nashville, TN, Aug. 8 /PRNewswire/ --
     Shoney's, Inc. (OTC Bulletin Board: SHOY) announced today that it has
approved an amendment to its Rights Agreement to adjust from $60.00 to $20.00
the price at which holders of Rights may purchase common stock of the company
issuable upon exercise of one whole Right. The amendment will become
effective as to all holders of the company's common stock of record as of
August 20, 2001.  Shoney's also announced that Registrar and Transfer Company
has replaced Harris Trust and Savings Bank as Rights Agent.

     A letter to shareholders regarding the amendment and a summary of
certain terms of the Rights Agreement will be mailed to shareholders.

     Shoney's, Inc. is headquartered in Nashville, Tennessee. As of May 13,
2001, Shoney's, Inc. owned, operated and franchised 998 restaurants in 27
states, including 590 Company-owned and 408 franchised restaurants, under the
names Shoney's Restaurants and Captain D's Seafood Restaurants. Shoney's,
Inc. is traded on the OTC Bulletin Board under the symbol  "SHOY.OB."