Max & Erma’s Restaurants, Inc. (NASDAQ: MAXE) today announced that G&R Acquisition, Inc. has completed its acquisition of Max & Erma’s Restaurants, Inc. Under the terms of the transaction, G&R Acquisition acquired Max & Erma’s for approximately $11.3 million in cash, or $4.00 per share.

Max & Erma’s was advised by its financial advisor, KeyBanc Capital Markets, Inc., and legal counsel Porter, Wright, Morris & Arthur, LLP. Legal counsel for G&R Acquisition, Inc. was Buchanan Ingersoll & Rooney PC.

At July 10, 2008, Max & Erma’s owns and operates 79 casual dining full-service restaurants under the Max & Erma’s name in Akron, Canton, Cincinnati, Cleveland, Columbus, Dayton, Niles, and Toledo Ohio; Indianapolis, Indiana; Ann Arbor, Detroit, Grand Rapids and Lansing, Michigan; Pittsburgh, Erie and Washington, Pennsylvania; Crestview Hills, Lexington and Louisville, Kentucky; Chicago, Illinois; Charlotte, North Carolina; Atlanta, Georgia; and Virginia Beach and Norfolk, Virginia. The Company also currently franchises 28 restaurants in Chillicothe, Cincinnati, Cleveland, Columbus, Dayton, Findlay, Lancaster, Sandusky, Sharonville and Wilmington, Ohio; St. Louis, Missouri; Philadelphia, Pennsylvania; Detroit, Michigan; Dulles, Richmond, Norfolk and Virginia Beach, Virginia; Myrtle Beach, South Carolina; Huntington, West Virginia; and the State of Indiana.

Max & Erma’s Restaurants, Inc.
Robert A. Lindeman, 614-431-5800
President & Chief Executive Officer
www.maxandermas.com