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BUFFETS, INC. OFFERS COMMON STOCK

 EDEN PRAIRIE, Minn., June 2 /PRNewswire/ -- Buffets, Inc. (NASDAQ: BOCB), the developer, operator and franchiser of Old Country Buffet restaurants, announced today that it has filed a registration statement with the Securities and Exchange Commission to make a public offering of 1,250,000 shares of common stock. Piper Jaffray Inc. will manage the underwriting group. The company will use the proceeds from the offering to repay outstanding borrowings under the company's revolving line of credit and to fund the development of additional restaurants and the remodeling of certain existing restaurants.
 As of May 28, 1993, the company operated 144 restaurants in 19 states, and had six franchised restaurants in two states.
 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 buy be accepted prior to the time the registration statement becomes effective. This press 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.
 A copy of the preliminary prospectus relating to these securities may be obtained from Piper Jaffray Inc., Piper Jaffray Tower, 222 South Ninth Street, Minneapolis, Minn., 55402 (telephone: 612-342-6000).
 -0- 6/2/93
 /CONTACT: Roe H. Hatlen, chairman and CEO or Clark C. Grant, vice president of finance, 612-942-9760, both of Buffets/
 (BOCB)


CO: Buffets, Inc. ST: Minnesota IN: REA SU: OFR

AL -- MN001 -- 4319 06/02/93 09:07 EDT
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Publication:PR Newswire
Date:Jun 2, 1993
Words:280
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