Ark Restaurants Corp. Board of Directors Approves 500,000 Share Repurchase Program.NEW YORK--(BUSINESS WIRE)--July 28, 1998--Ark Restaurants Corp. today announced that its board of directors has approved the repurchase of up to 500,000 shares of its common stock in the open market from time to time for a period of up to one year. The timing of the purchases and the actual number of shares to be purchased will depend upon market conditions. Ark has approximately 3,842,500 shares of common stock outstanding. Ark Restaurants owns and operates 24 restaurants and manages 5 restaurants of which 15 are in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. ; 4 in Washington, D.C.; 4 in 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. , Nevada; 3 in Boston, Massachusetts “Boston” redirects here. For other uses, see Boston (disambiguation). Boston is the capital and most populous city of Massachusetts.[3] The largest city in New England, Boston is considered the unofficial economic and cultural center of the entire New ; and one each in Rhinebeck, 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 ; McLean, Virginia; and Islamorada, Florida. Along with the three restaurants within the New York-New York Hotel & Casino Resort in Las Vegas, Nevada, the company also operates the Resort s room service, banquet facilities, employee dining room and a complex of nine smaller cafes and food operations. The company s other operations include catering businesses in New York City and Washington, D.C., wholesale and retail bakeries in New York City, a cafe at the Warner Bros BROS Brothers BROS Benefits and Retirement Operations Section (King County, Washington) BROS Barnes and Richmond Operatic Society (London, UK) . store in New York City and corporate dining facilities in an office building in Jersey City, New Jersey.
CONTACT: Robert Towers
Executive Vice President
Chief Operating Officer
212-206-8800
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