Exhibit 99.1

             Golden Enterprises, Inc. Announces Earnings

    BIRMINGHAM, Ala.--(BUSINESS WIRE)--Dec. 29, 2003--Golden
Enterprises, Inc.'s (Nasdaq:GLDC) basic and diluted (loss) per share
for the three months ended November 30, 2003 were ($.03) compared to
($.03) last year on net sales of $23,296,981 versus $23,424,863. Gross
margins for the three months ended were $11,064,849 versus
$10,727,863. Golden Enterprises, Inc. continues to show improvement in
manufacturing margins despite the decline in net sales.
    For the six months ended November 30, 2003, basic and diluted
(loss) per share were ($.01) compared to ($.03) last year, and total
net sales were $47,877,759 this year compared to $48,228,286 last
year. Golden Enterprises, Inc.'s employee medical costs for the six
months ended November 30, 2003, increased 20% or $.03 after tax.
    The following is a summary of net sales and income information for
the three months and six months ended November 30, 2003 and 2002.


                      Three Months Ended         Six Months Ended
                         November 30,               November 30,
                   ------------------------  ------------------------
                      2003         2002         2003         2002
                   -----------  -----------  -----------  -----------
Net Sales          $23,296,981  $23,424,863  $47,877,759  $48,228,286

Income (Loss)
 before income
 taxes               ($517,881)   ($618,382)   ($105,317)   ($676,241)
Income taxes          (198,766)    (236,853)     (45,147)    (261,031)
                   -----------  -----------  -----------  -----------
Net income (Loss)    ($319,115)   ($381,529)    ($60,170)   ($415,210)

Basic and diluted
 earnings (Loss)
 per share              ($0.03)      ($0.03)      ($0.01)      ($0.03)
                   ===========  ===========  ===========  ===========

Basic weighted
 shares outstanding 11,883,305   11,883,305   11,883,305   11,883,305
                   ===========  ===========  ===========  ===========

Diluted weighted
 shares outstanding 11,883,305   11,898,986   11,883,305   11,903,759
                   ===========  ===========  ===========  ===========


    This News Release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995. Actual results could differ materially from those
forward-looking statements. Factors that may cause actual results to
differ materially include price competition, industry consolidation,
raw material costs and effectiveness of sales and marketing
activities, as described in the Company's filings with the Securities
and Exchange Commission.


    CONTACT: Golden Enterprises Inc., Birmingham
             John Shannon, 205/933-9300