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CHECKERS COMMENTS ON STOCK PRICE DECLINE

 CLEARWATER, Fla., Oct. 7 /PRNewswire/ -- Checkers Drive-In Restaurants, Inc. (NASDAQ: CHKR) today announced that it had received numerous inquiries from members of the investment community concerning the increased activity in the company's common stock during the past week, as the price per share of the company's common stock has declined by approximately 20 percent. James E. Mattei, president and chief executive officer of the company, commenting on such decline stated: "There has been no material change in the financial condition or business prospects of the company that would explain the substantial activity in the company's common stock and the significant drop in our per share price. The company is very comfortable with analysts' projections of earnings of $.09 per share for the third quarter and $.35 per share for the year ended Dec. 31, 1993. Although same store sales have decreased in the past few months primarily as a result of planned cannibalization of existing restaurants in the Tampa Bay and West Palm Beach, Fla. markets and, in some areas through increased competitive pressures, annual per store sales averages of the company are still approximately $1 million, the highest per store average in the double drive-thru industry segment." Mattei also noted that the company was still on target to open at least 90 company-operated restaurants and 90 franchised restaurants in 1993 with at least 403 stores projected to be open by the end of 1993. As of Oct. 6, 1993, the company had opened 59 company-operated stores and 58 franchised stores during 1993.
 Mattei also noted: "I believe that the negative news recently released by Rally's, Inc., a competitor in the double drive-thru segment, has had a significant impact on the recent activity in our stock. I can assure the marketplace that the issues facing Rally's, as disclosed in their recent press release, are unique to Rally's and that we are a sound company with quality earnings."
 The company develops, produces, owns, operates and franchises quick- service "double drive-thru" restaurants under the name "Checkers."
 -0- 10/7/93
 /CONTACT: Herbert G. Brown of Checkers Drive-In Restaurants, 813-441-3500/
 (CHKR)


CO: Checkers Drive-In Restaurants, Inc. ST: Florida IN: LEI SU:

AW-JV -- FL013 -- 9816 10/07/93 14:35 EDT
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Publication:PR Newswire
Date:Oct 7, 1993
Words:367
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