Mrs. Fields Granted Approval of All First Day Motions

Approved to pay employees and vendors in the normal course of
business operations

Approved to maintain all customer programs

Expects to emerge from Chapter 11 proceedings within 45 days
SALT LAKE CITY--(Business Wire)--
Mrs. Fields' Original Cookies, Inc. (the "Company" or "Mrs.
Fields"), announced today that it has received bankruptcy court
approval of all of its first day motions, including approval to:

-- Continue to pay employee salaries, wages, and benefit
programs;

-- Pay vendors in the normal course of business for goods and
services provided to the Company; and

-- Maintain uninterrupted delivery of products and services to
the Company's franchisees and customers.

Included in today's approvals was Court authorization to access
the necessary funds from the approximately $90 million in previously
restricted deal proceeds to fund business operations during the
Chapter 11 process. The Company also is pursuing a $10 million credit
line that will be used, in conjunction with cash flows from normal
operations, to support all of the Company's go-forward operations and
working capital needs upon emergence from Chapter 11.

"We were very pleased with the Courts positive response to our
first day motions. Receiving approval so quickly places Mrs. Fields in
the best possible position as we move toward completing our
restructuring. We fully expect to receive Court approval of our
reorganization plan at the scheduled October 2, 2008 Confirmation
Hearing and to emerge from these proceedings a stronger, more viable
company with a drastically improved balance sheet. With our first day
motions behind us, we can now focus our attention on finalizing
post-emergence plans leveraging our new financing and equity
structures to drive results for our franchising, gifting, and branded
retail businesses," said Michael Ward, Interim Co-Chief Executive
Officer.

On August 24, 2008, Mrs. Fields and certain of its subsidiaries
filed voluntary bankruptcy petitions under Chapter 11 of the United
States Bankruptcy Code in the United States Bankruptcy Court for the
District of Delaware. As part of the filing, the Company has also
filed its prepackaged Plan of Reorganization. The prepackaged
bankruptcy will significantly improve the Company's balance sheet by
exchanging approximately $195 million in bondholder debt for cash, new
bonds and a controlling equity stake in the reorganized company.

About Mrs. Fields' Original Cookies, Inc.

The Company is a well established franchisor in the premium snack
food industry, featuring Mrs. Fields(R) and TCBY(R) as its core
brands. Through its franchisees' retail stores, it is one of the
largest retailers of freshly baked, on-premises specialty cookies and
brownies in the United States of America (the "United States") and the
largest retailer of soft-serve frozen yogurt with live active cultures
in the United States. In addition, it operates a gifts and a branded
retail business and has entered into licensing arrangements that
attempt to leverage awareness of its core brands among its retail
customer base. Its franchise systems operate through a network of more
than 1,200 franchised and licensed locations throughout the United
States and in 22 foreign countries. The Company is headquartered in
Salt Lake City, Utah.

Mrs. Fields' Original Cookies, Inc.
Michael R. Ward, 801-736-5710
Interim Co-Chief Executive Officer,
Executive Vice President, & Chief Legal Officer

Copyright Business Wire 2008