Checkers Drive-In Restaurants, Inc. to Go Private

Checkers Drive-In Restaurants, Inc., (NASDAQ:CHKR) , the nation's largest chain of double drive- thru restaurants, today announced that its shareholders have voted in favor of the merger agreement with Taxi Holdings Corp., an affiliate of Wellspring Capital Management LLC, a private equity firm. Taxi Holdings will acquire all of Checkers outstanding shares for $15.00 per share in cash.

"We are pleased the shareholders agreed that this transaction offers the best opportunity to maximize value," said Keith E. Sirois, President and CEO of Checkers Drive-In Restaurants, Inc. "We look forward to the strategic and financial benefits that private ownership with Wellspring will offer to the Checkers(R)/Rally's(R) system. Following the merger, we will continue to pursue our brand vision of increased restaurant development and Guest Obsessed(C) hospitality."

The merger is expected to close within the next few days. The Company will cease to be listed on the Nasdaq or on any other public exchange once the merger is completed.

Following completion of the merger, shareholders will receive by mail instructions on how to deliver their stock certificates in order to receive the merger consideration.

About Checkers Drive-In Restaurants, Inc.

Checkers Drive-In Restaurants, Inc. is the largest double drive-thru restaurant chain in the United States. The Company develops, owns, operates and franchises quick-service Checkers and Rally's double drive-thru restaurants. In 2005, Checkers/Rally's was awarded two of the industry's most coveted recognitions: Best Drive-Thru in America 2005 in the QSR Drive-Thru Study for Rally's, and Nation's Restaurant News Hot! Again Award for Checkers' sizzling business performance. Checkers/Rally's is the Official Burger and Drive-Thru Restaurant of NASCAR.

Logos, product and company names mentioned are the property of their respective owners.

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