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KRYSTAL ANNOUNCES TEMPORARY DELAY OF PROPOSED EQUITY OFFERING

 CHATTANOOGA, Tenn., March 3 /PRNewswire/ -- The Krystal Company (NASDAQ: KRYS) announced today that it has temporarily delayed its proposed equity offering of 1.8 million shares comprised of one million primary shares and 800,000 secondary shares.
 According to Carl Long, The Krystal Company's chairman and chief executive officer, the company temporarily delayed the offering due to weak market conditions affecting the restaurant industry generally, despite the company's previously reported record earnings of $1.07 per share for the fiscal year ended Jan. 3, which was a 91 percent increase over the prior year. Despite the delaying of the offering Krystal's current capital structure supports its expansion plans.
 The Krystal Company operates and franchises full-size Krystal and small "double drive-thru" Krystal Kwik quick-service hamburger restaurants. The Krystal Company currently operates 217 Krystal restaurants and 14 Krystal Kwik restaurants, while franchises currently operate eight Krystal restaurants and 22 Krystal Kwik restaurants.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to but be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 3/3/93
 /CONTACT: Camden B. Scearce, vice president, chief financial officer, secretary, treasurer and controller of Krystal Company, 615-757-1510/
 (KRYS)


CO: The Krystal Company ST: Tennessee IN: LEI SU: OFR

RA-TG -- AT003 -- 2281 03/03/93 08:17 EST
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Publication:PR Newswire
Date:Mar 3, 1993
Words:288
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