BFX Hospitality Group, Inc. Board Approves Merger.

Business Editors

FORT WORTH, Texas--(BUSINESS WIRE)--Aug. 11, 2000

BFX Hospitality Group, Inc. (AMEX:BFX), announced that its Board of Directors, at a special meeting today, approved entering into a Plan and Agreement of Merger between the Company and Hospitality Concepts, LLC, to acquire all of the outstanding common stock of the Company for $2.25 per share.

Hospitality Concepts, LLC has been formed by Robert H. McLean, Chairman of the Board and Chief Executive Officer of the Company, to consummate the merger. It is expected that three members of management and two directors will participate with Mr. McLean in the ownership of Hospitality Concepts, LLC. Mr. McLean and the two directors did not participate in the portion of the meeting that considered the merger.

The decision of the Company's Board of Directors was based upon the recommendation of the Independent Committee of the Board and two fairness opinions received from its financial advisors, Sanders Morris Harris, Inc. of Houston, Texas and George K. Baum & Company of Kansas City, Missouri. The Board of Directors will recommend approval of the merger at a special meeting of shareholders expected to be held in October or November of this year.