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KETTLE RESTAURANTS, INC. ENTERS INTO AGREEMENT

 HOUSTON, Dec. 1 /PRNewswire/ -- On Nov. 24, 1993 Kettle Restaurants, Inc. ("Kettle") entered into a forbearance agreement relating to its 13.3 percent notes waiving Kettle's non-compliance with certain financial covenants set forth in the related debt agreement, provided Kettle continues to satisfy the conditions of the forbearance agreement. The forbearance period expires on May 31, 1994.
 Kettle will continue to negotiate with its senior lenders for a restructuring of its long-term debt and, to the extent necessary, waivers and additional forbearance agreements. There is no assurance that Kettle will be able to obtain an acceptable long-term debt restructuring or waivers and additional forbearance agreements. At present, Kettle intends to delay payment of the interest due on Dec. 1, 1993 on its 15-7/8 percent subordinated debentures while it is negotiating with its senior lenders. Failure to pay the interest due on Dec. 1, 1993 is not an event of default until such failure continues for 30 days.
 Additional information is included in the Kettle's report on Form 8-K filed with the Securities and Exchange Commission on Dec. 1, 1993.
 -0- 12/1/93
 /CONTACT: Carlette Woods, vice president-finance and treasurer of Kettle Restaurants, Inc., 713-524-3464/


CO: Kettle Restaurants, Inc. ST: Texas IN: FOD LEI SU: FNC

LD -- NY118 -- 9506 12/01/93 17:32 EST
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Publication:PR Newswire
Date:Dec 1, 1993
Words:216
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