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APPLEBEE'S REPORTS DISCUSSIONS REGARDING FRANCHISEE-OWNED RESTAURANTS

APPLEBEE'S REPORTS DISCUSSIONS REGARDING FRANCHISEE-OWNED RESTAURANTS
 KANSAS CITY, Mo., Sept. 23 /PRNewswire/ -- Expanding on statements of its CEO, Abe J. Gustin, Jr., reported by a wire service yesterday, Applebee's International, Inc., (NASDAQ: APPB) today announced that it is in preliminary stages of the negotiation process with a number of its franchisees, intended to result in the company purchasing and/or operating several restaurants which are currently owned and operated by these franchisees. Such transactions, when completed, will also provide for the re-acquisition of development territory. In addition, the company is moving forward on its development plans in Southern California, Michigan and Texas, with company-owned restaurants now under construction in California and Texas. Also, additional sites have been secured in all three states.
 These events are in keeping with the company's previously announced plan to use proceeds from the common stock offering completed earlier this year for the purchase of franchisee-owned restaurants and the development of new company-owned restaurants.
 The company expects to enter a joint venture agreement with one of its franchisees later this week. This transaction involves three existing restaurants and one future restaurant and will allow the company to develop the remainder of the franchisee's territory as company-owned units. No other definitive agreements have been entered to date, although the company continues to diligently pursue acquisition opportunities. While the company expects that the addition of company- owned or operated restaurants would have a positive long-term effect on earnings, the anticipated impact on earnings per share cannot be determined until the transactions are completed.
 As of the date of this release, there are 229 Applebee's restaurants open in 32 states. Applebee's International, Inc., headquartered in Kansas City, Mo., develops, franchises and operates a rapidly expanding national chain of restaurants under the trademark Applebee's Neighborhood Grill and Bar.
 -0- 9/23/92
 /CONTACT: Jack Falker of Swenson Falker Eilertsen, 612-371-0000, for Applebee's, or Sue Carroll of Applebee's, 816-421-2501/
 (APPB) CO: Applebee's International, Inc. ST: Missouri IN: LEI SU:


AL -- MN003 -- 2550 09/23/92 10:30 EDT
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Publication:PR Newswire
Date:Sep 23, 1992
Words:337
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