RAVE RESTAURANT GROUP, INC. — Director's Dealing 2004

Jun 7, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PIZZA INN INC /MO/ (PZZI)
CIK: 0000718332
Period of Report: 2004-06-02

Reporting Person: SCHWARZ MARK E (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-06-02	Common Stock, $0.01 par value per share	P	5000	$2.79	Acquired	15000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-06-30	Stock Options (Right to Buy)	$2.15	P	5000	Acquired	2009-06-30	Common Stock (5000)	Direct

Footnotes

F1: Reporting Person is the managing member of Newcastle Capital Group, L.L.C., the general partner of Newcastle Capital Management, L.P., which is the general partner of Newcastle Partners, L.P. Newcastle Partners, L.P. owns 3,622,130 shares of common stock. Reporting Person disclaims beneficial ownership of the shares owned by Newcastle Partners, L.P. except to the extent of his pecuniary interest therein.