RUBY TUESDAY, INC.

Financial Results For the Third Quarter of Fiscal Year 2004
(Amounts in thousands except per share amounts)

	13 Weeks Ended				13 Weeks Ended					39 Weeks Ended				39 Weeks Ended
	March 2, 2004		Percent of Sales		March 4, 2003		Percent of Sales		Percent Change	March 2, 2004		Percent of Sales		March 4, 2003		Percent of Sales		Percent Change
Revenues:
Restaurant sales and operating     revenues	$ 266,438		98	.3	$ 228,834		98	.3		$ 753,178		98	.3	$ 655,601		98	.3
Franchise revenues	4,527		1	.7	4,022		1	.7		12,643		1	.7	11,270		1	.7
Total operating revenues	270,965		100	.0	232,856		100	.0	16.4	765,821		100	.0	666,871		100	.0	14.8
Operating Costs and Expenses:
(as a percent of Company      restaurant revenues)
Cost of merchandise	67,419		25	.3	60,846		26	.6		193,015		25	.6	175,159		26	.7
Payroll and related costs	81,909		30	.7	73,991		32	.3		237,487		31	.5	219,255		33	.4
Other restaurant operating         costs	43,666		16	.4	36,900		16	.1		126,488		16	.8	110,825		16	.9
Depreciation and amortization	13,907		5	.2	11,744		5	.1		40,109		5	.3	33,347		5	.1
(as a percent of Total operating       revenues)
Selling, general and         administrative, net	15,594		5	.8	11,000		4	.7		46,710		6	.1	32,361		4	.9
Equity in (earnings) of         unconsolidated franchises	(2,610	)	(1	.0)	(1,534	)	(0	.7)		(3,879	)	(0	.5)	(2,410	)	(0	.4)
Total operating costs and expenses	219,885				192,947					639,930				568,537
Earnings before Interest and Taxes	51,080		18	.9	39,909		17	.1	28.0	125,891		16	.4	98,334		14	.7	28.0
Interest expense, net	773		0	.3	964		0	.4		3,288		0	.4	1,455		0	.2
Pre-tax Profit	50,307		18	.6	38,945		16	.7		122,603		16	.0	96,879		14	.5
Provision for income taxes	17,902		6	.6	13,553		5	.8		43,643		5	.7	33,713		5	.1
Net Income	$   32,405		12	.0	$   25,392		10	.9	27.6	$   78,960		10	.3	$   63,166		9	.5	25.0
Earnings Per Share:
Basic	$       0.49				$       0.40				22.5	$       1.21				$       0.99				22.2
Diluted	$       0.48				$       0.39				23.1	$       1.18				$       0.97				21.6
Shares:
Basic	65,914				64,056					65,322				63,915
Diluted	67,614				65,050					66,889				65,017