Brazil Fast Food Brazilian Depository Receipts Begin Trading On Sao Paulo Stock Exchange.Business Editors RIO DE JANEIRO Rio de Janeiro, city, Brazil Rio de Janeiro (rē`ō də zhänā`rō, Port. rē`  thĭ zhənĕē`r , Brazil--(BUSINESS WIRE)--Aug. 28, 2000 Brazil Fast Food Corp. (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 SmallCap: BOBS), the second largest fast-food chain operator in Brazil, with more than 200 restaurant locations, today reported that it has begun offering Brazilian Depository Receipts (BDRs) on the BOVESPA See Bolsa de Valores de Sao Paulo. , the Brazilian stock exchange in Sao Paulo. Other companies listed on the BOVESPA include Petrobras, Telebras and Banco do Brasil Banco do Brasil S.A. is a major Brazilian bank headquartered in BrasÃlia. The bank was founded in 1808 and is the oldest surviving bank in Brazil — one of the oldest of Latin America. . Peter van Voorst Vader, 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. of Brazil Fast Food Corp. and the first investor to purchase the Company's BDRs, commented, "Our Company is proudly continuing its reputation as a pioneer, which began in 1952, when we opened the first fast food restaurant in Brazil. In 1996, we became the first Brazilian company to list our shares on NASDAQ. Now, we have become the first - and only - fast food company in Brazil to list our shares on the BOVESPA, offering Brazilian investors the unique opportunity to participate in the growth of a domestic fast food company that is a household name throughout Brazil." Brazil Fast Food was first approved to trade BDRs on the BOVESPA in 1998, but delayed its plans until Brazil's economy stabilized. The Company received renewed permission from the CVM (Brazil's version of the SEC) in July to begin trading its BDRs through Fator Doria Atherino S/A S/A System Administrator S/A Service/Agency S/A Special Agent S/A Spectrum Analyzer S/A Situational Awareness S/A Selective Availability (GPS satellite mode) S/A Services/Agencies S/A Sub-Assembly , who can be reached by telephone at (011) 55-11-3068-1045, by fax at (011) 55-11-3061-0023 or by e-mail at doria@doria.com.br. Brazil Fast Food currently has more than 200 restaurant locations in its chain. Brazil Fast Food Corp., through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Venbo Comercio de Alimentos Ltda., a limited liability company that conducts business under the trade name "Bob's," owns and operates (both directly and through franchisees) the second largest chain of hamburger fast food restaurants in Brazil. This press release may contain certain forward-looking statements, which are subject to change. Actual results may differ from those described in any forward-looking statements. Additional information concerning potential factors that could affect the Company's financial results are included in the Company's Form 10-K for the year ended December 31, 1999. |
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