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CHECKERS DRIVE-IN RESTAURANTS COMPLETES MERGERS OF CLAR-WAY CORPORATION AND SMITH ENTERPRISES

 /REPEATING FOR POINTS NEEDED/
 CLEARWATER, Fla., May 4 /PRNewswire/ -- Checkers Drive-In


Restaurants, Inc. (NASDAQ: CHKR) today announced that it has completed the mergers of Clar-Way Corporation and Smith Enterprises of Tampa Bay, Inc. (and three related entities) with and into Checkers. In connection with the mergers, Checkers acquired 10 existing Checkers restaurants located in the Tampa Bay, Sarasota and Bradenton regions of Florida, as well as the area development rights to additional restaurants in those territories.
 The mergers were finalized in exchange for a total of approximately 700,000 shares of company common stock (subject to post closing audits) and will be accounted for as a pooling of interests for financial reporting purposes. The existing restaurants are contiguous to other Checkers' territories with numerous company-operated locations. Checkers expects to develop an additional 13 restaurants in the acquired territories.
 Chairman Herbert G. Brown said, "We are very excited about the opportunity to close these acquisitions and to further develop a market that is one of our strongest in the country."
 -0- 5/4/93
 /CONTACT: Herbert G. Brown of Checkers Drive-In Restaurants, Inc., 813-441-3500/
 (CHKR)


CO: Checkers Drive-In Restaurants, Inc.; Clar-Way Corporation; Smith
 Enterprises ST: Florida IN: REA SU: TNM


JB-AW -- FL004 -- 4153 05/04/93 08:34 EDT
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:May 4, 1993
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