Noble Roman’s Announces First Quarter 2009 Net Income Up 30%

(Indianapolis, Indiana) – May 11, 2009 -- Noble Roman's, Inc. (OTC/BB: NROM), the Indianapolis based franchisor of Noble Roman’s Pizza and Tuscano’s Italian Style Subs, today announced results for the quarterly period ended March 31, 2009.
Net income was $416,761 or $.02 per share basic and diluted, on weighted average number of common shares outstanding of 19.4 million and diluted weighted average shares of 19.9 million. This was a 29.7% increase in net income over the quarterly period ended March 31, 2008 of $304,795, or $.02 per share basic and diluted, on weighted average number of common shares outstanding of 19.2 million, and diluted weighted average shares of 20.3 million. Total revenues for the quarterly period ending March 31, 2009 were $1.9 million compared to total revenues of $2.4 million for the comparable period in 2008. The net income for the three-month period ended March 31, 2009 was slightly better than anticipated in the 2009 Business Plan announced in the Form 10-Q for the period ended September 30, 2008.

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