Rattlesnake Agrees to Acquire Two Restuarants; Conversions to its Ottomanelli New York Steakhouse Concept Planned for Both.NEW YORK--(BUSINESS WIRE)--July 9, 1998--The Rattlesnake rattlesnake, poisonous New World snake of the pit viper family, distinguished by a rattle at the end of the tail. The head is triangular, being widened at the base. The rattle is a series of dried, hollow segments of skin, which, when shaken, make a whirring sound. Holding Company Inc. (RTTL RTTL Ring Tone Transfer Language RTTL Rescue and Target Towing Launch (British Military vessel) RTTL Run to the Light (Trouble song) :OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). ), announced today that it has executed contracts to purchase operating restuarant leaseholds in (a) New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. at 1562 Second Avenue at the corner of 81st Street, Manhattan and (b) in Greenwich, Conn. at Two South Water Street. Title closings and retro-fit non-structural conversions from the current concepts to the Rattlesnake Holding Company Ottomanelli New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Steakhouse theme is anticipated to the completed within 1998. According the Stephan A. Stein, chairman, "These acquisitions not only represent attractive opportunities on a stand-alone operational/economic basis with an expected minimum 3:1 annual sales to total investment ratio, they represent the beginning of the "new" Rattlesnake growth cycle. 1997 was largely spent downsizing (1) Converting mainframe and mini-based systems to client/server LANs. (2) To reduce equipment and associated costs by switching to a less-expensive system. (jargon) downsizing and re-tooling, while the first half of 1998 was spent completing and then transitioning the merger and management change with the Ottomanelli Restaurant Group." Nick Ottomanelli, 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. , added, "We are very excited about the launch of the Ottomanelli New York Steakhouse concept to complement our Rattlesnake Grill and Ottomanelli Cafe concepts, and particularly about these sites. Not only are they in visible and demographically appropriate locations, they are operationally efficient placements given our existing Connecticut operations in the case of the Greenwich site and the two block proximity to our corporate office in the case of the Manhattan site." RTTL is a diversified food service company with Rattlesnake Southwestern Grill casual dining restaurants in South Norwalk This article is about the SoNo neighborhood in Norwalk. For the SoNo district in Atlanta, see SoNo (Atlanta). For the band, see Sono (band). South Norwalk (also known as SoNo) is a neighborhood in Norwalk, Connecticut. and Danbury, Conn. and Flemington, N.J. and two Ottomanelli Cafe(R) restaurants in Paramus, N.J., franchised restaurant operations in New York City, (five Ottomanelli Cafe(R) restaurants) and mail order and private label goods divisions soon to be launched. The forward looking statements included in this news release are based on management's current expectations. In light of the assumptions and uncertainties inherent in forward looking information, the inclusion of such information should not be regarded as a representation by the company or any other person that the plans of the company will be realized or that positive trends in financial results will occur.
CONTACT: The Rattlesnake Holding Company Inc., New York
Stephan A. Stein, Chairman
Fax: 212/223-4756
or
Nicolo Ottomanelli, President
Phone: 212/452-2359
Fax: 212/452-2971
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