A Brooklyn Landmark to Play on Broadway.Business Editors NEW YORK--(BUSINESS WIRE)--March 9, 2000 TAM Restaurants, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : TAMR TAMR Teen Association of Model Railroaders TAMR Texas Association on Mental Retardation (now AAIDD Texas Chapter) TAMR Telecommunication Assessment Monitoring Report ) announced that it was taking its world famous Lundy Bros BROS Brothers BROS Benefits and Retirement Operations Section (King County, Washington) BROS Barnes and Richmond Operatic Society (London, UK) . Restaurant to Broadway. Plans are being finalized and construction is set to begin on a new Lundys prominently located at 50th and Broadway. The 400 seat restaurant will occupy 12,600 square feet in the Wintergarden Theater Building. "Manhattan is the next logical location for Lundy's" remarked Frank Cretella, TAM's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Lundy's has always been known as a place that offers more than just great food, it's a high energy and fun filled experience. It's what New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , what Times Square is all about. We're thrilled to have secured this spectacular location and to be associated with the Shubert Organization, our landlord in the project." The Times Square location will feature all of the "Brooklyn size" portions that made Lundy Bros. Restaurant a New York legend, including giant Maine lobsters, complete shore dinners, Irving's famous 48oz porterhouse steak and of course a dazzling array of the freshest fish and seafood. In addition to the regular menu the restaurant will feature special pre and post theater menus and contemporary seafood preparations. The Times Square Lundy's is being designed by the Nimitz Design Group which is known for its award winning designs at Capital Grille, Legal Seafood, Bertolini's Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , Carmine's, Olive's and the Westin Copely Place. Peter Nimitz designed the original Lundy's in Sheepshead Bay, Brooklyn Sheepshead Bay is a bay separating the mainland of Brooklyn, New York City from the eastern portion of Coney Island, the latter originally a barrier island but now effectively an extension of the mainland with peninsulas both east (the neighborhood of Manhattan Beach) and west and the Times Square Lundy's will have the same look and feel. TAM reopened Lundy Bros. Restaurant in its original location on Emmons Avenue in Sheepshead Bay, Brooklyn in December, 1995 after it had been closed for 17 years following the death of its legendary founder, Irving Lundy. The reopening of the 800 seat Lundy's sparked a resurgence in the entire Sheepshead Bay Sheepshead Bay, residential area in S Brooklyn borough of New York City, SE N.Y., on Sheepshead Bay. It was once famous for its horse and automobile races and as a resort center. The bay is an anchorage for commercial and pleasure fishing craft. Community and the restaurant has become a "pilgrimage" for many Brooklyn born families and celebrities that have moved to other parts of the country. It is not uncommon to see three generations enjoying a weekend meal. In addition, Lundy's has received high marks for its food from a number of restaurant critics and has been featured in Bon Appetite magazine. Kenneth Harris, TAM's Chairman added: "Moving forward TAM Restaurants, Inc will be focusing its energies on building out the Lundy's brand and in making acquisitions of more traditional retail restaurant operations that provide growth opportunities. We are disappointed that we have not been designated to continue our contract as operators of the Boathouse and we plan to pursue every option possible to renew the license agreement." Certain statements in this press release constitute "forward-looking statements" with the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, risks relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Company's ability to negotiate new leases, the opening of new restaurants, the Company's capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. , availability of financing, continued popularity of existing and new restaurants, seasonality and other risks detailed in the Company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. TAM Restaurants, Inc. operates Lundy Bros. Restaurant in Brooklyn, NY; The Boathouse Complex in New York's Central Park; and American Park at the Battery in New York's Historic Battery Park. TAM is a public company traded on the NASDAQ Small Cap market under the symbol TAMR. For further information or to arrange an interview please contact Jeanne Cretella at 718-720-5959 ext 16. For financial information please contact Anthony B. Golio, Vice President at 718-720-5959 ext 12. |
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