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APPLEBEE'S ESTABLISHES $25,000,000 FINANCING POOL FOR FRANCHISEES

 APPLEBEE'S ESTABLISHES $25,000,000 FINANCING POOL FOR FRANCHISEES
 KANSAS CITY, MO., June 8 /PRNewswire/ -- Applebee's International, Inc., (NASDAQ: APPB) today announced that it has entered an agreement with Bell Atlantic TriCon Leasing Corporation of Paramus, N.J. for the purpose of providing financing to Applebee's franchisees. The agreement establishes, through Bell Atlantic, a potential $25,000,000 pool from which qualified franchisees may borrow for development of Applebee's restaurants as free-standing buildings, end-caps or mall locations, as well as for equipment loans.
 Abe J. Gustin, president and CEO of Applebee's International said, "Franchisee financing has been an important issue for the Applebee's system in recent years. Our board of directors has made this issue one of our top priorities. With the limited recourse agreement arranged through Bell Atlantic, our franchisees will have an additional pool from which to finance their restaurants. This funding source could add 25-30 franchised restaurants to our system. Bell Atlantic should be congratulated for its hard work and our board for its vision in bringing this new financing source to our franchisees. We now have over 18 different lenders identified for our franchisees providing expanded financing which we believe will be sufficient to meet their development needs."
 The agreement with Bell Atlantic will make up to $25,000,000 available to franchisees for new restaurants, and provides for a limited recourse obligation of Applebee's International, Inc., with a potential maximum exposure of up to 10 percent of the amounts actually loaned, declining to zero over a period of years.
 Applebee's International, Inc., headquartered in Kansas City, Mo., develops, franchises and operates a rapidly expanding national chain of 209 restaurants under the trademark Applebee's Neighborhood Grill and Bar.
 -0- 6/8/92
 /CONTACT: Jack Falker of Swenson Falker Eilertsen, 612-371-0000 or Sue Carroll of Applebee's International, 816-421-2501/
 (APPB) CO: Applebee's International, Inc. ST: Missouri, Minnesota IN: LEI SU:


KH -- MN015 -- 8052 06/08/92 15:46 EDT
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Publication:PR Newswire
Date:Jun 8, 1992
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