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Dave & Buster's Urges Shareholders to Vote ``For'' the Dave & Buster's Slate.


Business Editors

DALLAS--(BUSINESS WIRE)--June 6, 2003

Dave & Buster's, Inc. (NYSE NYSE

See: New York Stock Exchange
:DAB (Digital Audio Broadcasting) The digital radio standard in most countries except for the U.S., which uses iBiquity's HD Radio, and Japan, which uses Terrestrial Integrated Services Digital Broadcasting (ISDB-T). ) today announced that it has sent the following letter to its shareholders:

DAVE & BUSTER'S SLATE -- COMMITTED TO BUILDING SHAREHOLDER VALUE

-- Tuesday's Annual Meeting Is Critical For The Future Of Your

Investment --

-- Vote "FOR" the Directors on the WHITE Proxy Card A proxy card is an easily-acquired or home-made substitute for a collectible card. A proxy is used when a collectible card game player does not own a card, and it would be impractical for such purposes to acquire the card.  --

Dear Dave & Buster's Shareholder:

Over the past days and weeks, we have had the pleasure of speaking with many of you -- hearing your thoughts, responding to your questions, and discussing Dave & Buster's plans and prospects. Since our annual meeting is next Tuesday, June 10, we wanted to remind you to vote FOR the Dave & Buster's slate of directors on the WHITE proxy card. And we wanted to remind you of some of the reasons why we believe our three nominees -- James "Buster" Corley, 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.  and COO; Peter Edison, Chairman; and Patricia Priest, a new independent director and Audit Committee Chair -- deserve your vote.

-- Institutional Shareholder Services (ISS ISS

See Institutional Shareholder Services (ISS).
), the nation's

foremost proxy advisory service, recommends that shareholders

vote FOR our slate in its entirety, writing in its analysis

that "we believe the current board deserves a chance to

execute its plan and deliver results."

-- Renaissance Capital Renaissance Capital is a major investment bank concentrating on Russia and the Commonwealth of Independent States (CIS). Renaissance Capital is wholly owned by management and employees. Major lines of business are: sales and trading, investment banking and asset management. , one of our largest shareholders, has

publicly endorsed our slate, citing its approval of our

corporate governance Corporate Governance

The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law.
 changes and our commitment to further

link management compensation to improved financial

performance. In addition, as a further indication of its

support, Renaissance withdrew its shareholder proposal to

explore a potential sale of the Company.

-- Our governance changes have been significant -- among other

things, we added three new highly qualified independent

directors with public board experience, two of whom qualify as

financial experts under the language of the Sarbanes-Oxley

Act; created completely independent audit, compensation, and

nominating and corporate governance committees; dropped the

co-CEO designation; and separated the chairman and CEO roles.

-- We further aligned the compensation of top management directly

to the Company's profitability, with significant reductions in

compensation if goals are not met.

-- We are pursuing a thorough and comprehensive business plan to

control costs, increase revenue and reduce debt -- a plan that

is already showing results despite a difficult economy. As a

result, in early May we reconfirmed our EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format.  guidance for

fiscal 2003 in a range of $0.77 to $0.85.

We know that our job is to get Dave & Buster's back on track, to demonstrate the enduring strength of a unique restaurant and entertainment concept, and to build and deliver value to shareholders that is significant and sustained. We are committed to achieving those goals.

We also know that a dissident shareholder -- Don Netter of Dolphin Limited Partnership -- has spent a lot of time and money sending you materials criticizing Dave & Buster's on many fronts. We disagree with Verb 1. disagree with - not be very easily digestible; "Spicy food disagrees with some people"
hurt - give trouble or pain to; "This exercise will hurt your back"
 much of what he has said and object to what we believe are his distortions of past history. However, in an attempt to resolve our disputes and avoid the costs to our shareholders of a proxy contest Proxy contest

A battle for the control of a firm in which a dissident group seeks, from the firm's other shareholders, the right to vote those shareholders' shares in favor of the dissident group's slate of directors. Also called proxy fights.
, we did offer him a board seat. Mr. Netter chose not to accept our offer, and instead has chosen to run three candidates against our slate in next Tuesday's election.

We believe that election of the Dolphin slate would divide, distract and disrupt the Board at exactly the time when our efforts have begun to demonstrate real progress. We do not believe the Dolphin slate has the necessary industry expertise, company knowledge, or long-term view of value creation to serve your interests. Please use the WHITE proxy card to vote FOR the Dave & Buster's slate -- Buster Corley, Peter Edison, and Patricia Priest. This election is critical for the future of your investment, and every vote is important. Please let your vote be counted!

We look forward to continuing our dialogue with you in the future. Thank you for your support.

Sincerely,

Peter Edison            James "Buster" Corley   David "Dave" Corriveau
Chairman of the Board   CEO and COO             President
Dave & Buster's, Inc.   Dave & Buster's, Inc.   Dave & Buster's, Inc.


About Dave & Buster's

Celebrating over 20 years of operations, Dave & Buster's was founded in 1982 and is one of the country's leading upscale, restaurant/entertainment concepts, with 32 Dave & Buster's locations throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Additionally, Dave & Buster's has international agreements for the Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. , Canada, the Middle East and Mexico.

Forward-Looking Statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.


Certain information contained in this press release includes forward-looking statements. Forward-looking statements include statements regarding our expectations, beliefs, intentions, plans, projections, objectives, goals, strategies, future events or performance and underlying assumptions and other statements which are other than statements of historical facts. These statements may be identified, without limitations, by the use of forward looking terminology such as "may," "will," "anticipates," "expects," "projects," "believes," "intends," "should," or comparable terms or the negative thereof. All forward-looking statements included in this press release are based on information available to us on the date hereof. Such statements speak only as of the date hereof. These statements involve risks and uncertainties that could cause actual results to differ materially from those described in the statements. These risks and uncertainties include, but are not limited to, the following: our ability to open new high-volume restaurant/entertainment complexes; our ability to raise and access sufficient capital in the future; changes in consumer preferences, general economic conditions or consumer discretionary spending; the outbreak or continuation of war or other hostilities involving the United States; potential fluctuation in our quarterly operating result due to seasonality and other factors; the continued service of key management personnel; our ability to attract, motivate and retain qualified personnel; the impact of federal, state or local government regulations relating to relating to relate prepconcernant

relating to relate prepbezüglich +gen, mit Bezug auf +acc 
 our personnel or the sale of food or alcoholic beverages

Main article: Alcoholic beverage
Fermented beverages
  • Beer
  • Ale
  • Barleywine
  • Bitter ale
; the impact of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute.

When a person begins a civil lawsuit, the person enters into a process called litigation.
; the effect of competition in our industry; additional costs associated with compliance with the Sarbanes-Oxley Act See SOX.  and related regulations and requirements; and other risk factors described from time to time in our reports filed with the SEC.
COPYRIGHT 2003 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2003, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Jun 6, 2003
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