Exhibit 99.1

              Famous Dave's Announces $6.0 Million Equity Financing

EDEN PRAIRIE, MN NOVEMBER 12, 2001 - Famous Dave's of America, Inc. (Nasdaq:
DAVE) announced today that it has raised $6.0 million in gross proceeds through
a private sale of 1.0 million newly issued shares of common stock. No warrants
were issued in connection with the financing. RBC Capital Markets acted as
exclusive placement agent for the offering, which included the following
institutional investors: Strong Capital Management, Oberweis Asset Management,
Jess S. Morgan & Co., SF Capital Partners, Fort Point Capital Management and
Ascend Capital. The Company will use the proceeds of the offering principally to
fund the development of new restaurants.

"We are pleased to complete this offering with an outstanding group of
institutional investors." said Martin O'Dowd, President and CEO of Famous
Dave's. "We are now positioned to realize our full growth potential for fiscal
2002 and to continue the profitable national development of our Famous Dave's
restaurants."

The shares of common stock have not been registered under the Securities Act of
1933, as amended, and cannot be offered or resold absent registration or an
applicable exemption from registration. The Company plans to file a registration
statement covering the shares of common stock. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy any securities
of the Company.

ABOUT FAMOUS DAVE'S OF AMERICA

Famous Dave's of America, Inc. (NASDAQ: Dave) owns, operates and franchises
barbeque restaurants. The company currently owns 37 locations and franchises an
additional 14 units in Alabama, Georgia, Illinois, Iowa, Maryland, Minnesota,
Nebraska, South Dakota, Utah, Virginia and Wisconsin and has signed development
agreements for an additional 58 franchised locations. Its menu features
award-winning barbecued and grilled meats, an ample selection of salads, side
items, sandwiches and unique desserts.

Certain matters discussed within this press release, including statements
regarding revenue and profit forecasts, new restaurant sites, restaurant
openings and expansion plans, are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Although Famous Dave's
of America, Inc. believes the expectation reflected in any forward-looking
statements are based on reasonable assumptions, it can give no assurance that
its expectation will be attained. Factors that could cause actual results to
differ materially from Famous Dave's expectation include financial performance,
restaurant industry conditions, execution of restaurant development and
construction programs, changes in local or national economic conditions,
availability of financing and other risks detailed from time to time in the
Company's SEC reports.