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CIATTI'S, INC., ANNOUNCES REPURCHASE OF SHARES

 MINNEAPOLIS, Sept. 29 /PRNewswire/ -- Phillip R. Danford, president of Ciatti's, Inc. (NASDAQ: CIAT), announced that the company has signed an agreement to buy back 80,000 shares, or 9.9 percent of its outstanding common stock, from Wessels, Arnold & Henderson, one of the market makers in the company's stock, at a price of $2.00 per share. The repurchase still requires the approval of the shareholders at the planned Nov. 9, 1993, annual shareholder meeting.
 Danford said: "The recent price of our stock provides a unique opportunity to repurchase shares at below our book value. This purchase is a most effective and prudent use of our capital. We will be using some of the shares for our employee stock option plan, and retire the rest."
 The company's stock has been trading between $1.50 and $2.50 during the last half year. The book value was $5.20 per share on June 28, 1993, the end of the company's fiscal year.
 Ciatti's owns and operates 13 restaurants in Minnesota and Wisconsin.
 -0- 9/29/93
 /CONTACT: Dan Danford of Ciatti's, 612-342-6274/
 (CIAT)


CO: Ciatti's, Inc. ST: Minnesota IN: REA SU:

DS-CP -- MN014 -- 6993 09/29/93 17:04 EDT
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Publication:PR Newswire
Date:Sep 29, 1993
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