Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  LION FUND, L.P.
 2. Date of Event Requiring Statement (Month/Day/Year)
09/01/2006		 3. Issuer Name and Ticker or Trading Symbol
FRIENDLY ICE CREAM CORP [FRN]
(Last)
(First)
(Middle)
9311 SAN PEDRO AVENUE, SUITE 1440		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

SAN ANTONIO, TX 78216		 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock $0.01 par value 435,400
D (1)
 
Common Stock $.01 par value 435,400
I
By The Lion Fund, L.P. (2)
Common Stock $.01 par value 362,168
D (3)
 
Common Stock $.01 par value 362,168
I
By Western Sizzlin Corp. (4)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
LION FUND, L.P.
9311 SAN PEDRO AVENUE, SUITE 1440
SAN ANTONIO, TX 78216		     X    
BIGLARI, SARDAR
9311 SAN PEDRO AVENUE, SUITE 1440
SAN ANTONIO, TX 78216		     X    
BIGLARI CAPITAL CORP.
9311 SAN PEDRO AVENUE, SUITE 1440
SAN ANTONIO, TX 78216		     X    
WESTERN SIZZLIN CORP
317 KIMBALL AVENUE NW
ROANOKE, VA 24016		     X    

Signatures

The Lion Fund, L.P., By: Biglari Capital Corp., General Partner, By: /s/ Sardar Biglari, Chief Executive Officer 09/07/2006
**Signature of Reporting Person Date
Biglari Capital Corp., By: /s/ Sardar Biglari, Chief Executive Officer 09/07/2006
**Signature of Reporting Person Date
/s/ Sardar Biglari 09/07/2006
**Signature of Reporting Person Date
Western Sizzlin Corp., By: /s/ Robyn B. Mabe, Chief Financial Officer 09/07/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) These securities are owned by The Lion Fund, L.P., which is a Reporting Person.
(2) The securities may be deemed to be beneficially owned by Biglari Capital Corp. ("BCC"), the general partner of The Lion Fund, L.P. and Sardar Biglari, the Chairman and Chief Executive Officer of BCC. Sardar Biglari and BCC each disclaim beneficial ownership in the securities reported on this Form 3 except to the extent of their pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that either Sardar Biglari or BCC are the beneficial owners of such securities for purposes of Section 16 or for any other purpose.
(3) These securities are owned by Western Sizzlin Corp. ("WSC"), which is a Reporting Person.
(4) The securities may be deemed to be beneficially owned by Sardar Biglari, the Chairman of WSC. Sardar Biglari disclaims beneficial ownership in the securities reported on this Form 3 except to the extent of his pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that Sardar Biglari is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

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