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FOODMAKER ANNOUNCES TENDER OFFERS AND CONSENT SOLICITATIONS

      FOODMAKER ANNOUNCES TENDER OFFERS AND CONSENT SOLICITATIONS
    SAN DIEGO, Calif., Jan. 31 /PRNewswire/ -- Foodmaker, Inc. said today that the company has commenced its previously announced tender offers and consent solicitations that are part of a recapitalization plan to refinance or retire certain outstanding high-yield debt securities of Foodmaker, Inc.
    The company said that it is offering to purchase for cash, and is soliciting consents to amendments of the related indentures for:
    -- all the outstanding 12.75 percent senior notes due 1996 of
       Foodmaker, Inc. at a price of $1,108.75 per $1,000 principal
       amount, plus interest accrued up to but not including the
       relevant payment date, plus $30 for each $1,000 principal
       amount for consents;
    -- all the outstanding 14.25 percent senior subordinated notes
       due 1998 of Foodmaker, Inc. at a price of $1,108.75 per
       $1,000 principal amount plus interest accrued up to but not
       including the relevant payment date, plus $30 for each $1,000
       principal amount for consents.
    The tender offers and the consent solicitations are subject to certain conditions, including receipt of consents representing at least 51 percent of the principal amount of each of the securities, completion of the proposed initial public offering of common stock, and the public offerings of new senior and senior subordinated notes.
    Holders of debt securities who tender securities in the relevant tender offer will be obligated to consent to the relevant proposed indenture amendment.  Holders of securities may not deliver consents without tendering their securities in the applicable tender offer.
    Each of the tender offers and the consent solicitations will expire at midnight, New York City time, on Friday, Feb. 28, 1992.
    Morgan Stanley & Co. Incorporated and Donaldson, Lufkin and Jenrette Securities Corporation have been retained to act as dealer managers for the tender offers and consent solicitations.
    Foodmaker, Inc. (headquartered in San Diego, Calif.) owns, operates and franchises the Jack In The Box and Chi-Chi's restaurant concepts.
    -0-                  1/31/92
    /CONTACT:  Charles Duddles of Foodmaker, Inc., 619-571-2470/ CO:  Foodmaker, Inc. ST:  California IN:  REA SU:  OFR PS -- NY066 -- 5785 01/31/92 16:46 EST
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Publication:PR Newswire
Date:Jan 31, 1992
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