CB Holding Corp Files Plan of Reorganization and Disclosure Statement

Completes Sales of The Office and Charlie Brown's Steakhouse Chains

CB Holding Corp. (the "Company") announced today that it and all of its subsidiaries have filed a Joint Plan of Reorganization (the "Plan") and related disclosure statement with the U.S. Bankruptcy Court for the District of Delaware.  The Plan effectuates an agreement between the Company's lenders and the official committee of unsecured creditors that was appointed in the Company's Chapter 11 cases to split proceeds of sales of the Company's assets that provide for a recovery to unsecured creditors.  A hearing has been scheduled for September 9, 2011, at which time the Court will consider the disclosure statement and schedule a hearing on confirmation of the Plan.


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