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HOMETOWN BUFFET INC. COMPLETES INITIAL PUBLIC OFFERING OF COMMON STOCK

 SAN DIEGO, Calif., Sept. 23 /PRNewswire/ -- HomeTown Buffet Inc. (NASDAQ: HTBB) announced today its initial public offering of 2,300,000 shares of common stock at a price of $15 per share. The offering was managed by Montgomery Securities and Alex. Brown & Sons Inc. Net proceeds to the company from the offering are estimated to be $31,585,000 and are expected to be used for the construction and opening of new company-owned restaurants. Following the closing of the offering, the company will have $6,823,510 shares of common stock outstanding.
 Copies of the prospectus relating to the offering may be obtained from Montgomery Securities, 600 Montgomery St., San Francisco, Calif. 94111 (attention: Prospectus Department), or Alex. Brown & Sons Inc., 135 E. Baltimore St., Baltimore, Md. 21201.
 Hometown Buffet Inc. operates and franchises high-quality scatter bar buffet restaurants under the name "HomeTown Buffet." The company opened the first HomeTown Buffet restaurant in Medford, Ore., in September 1990. There are currently 12 company-owned HomeTown Buffet restaurants operating in California and Oregon and seven franchisee- operated restaurants in Arizona, Colorado, Massachusetts, New Mexico and Utah. The company also operates one Roadhouse Grill steakhouse restaurant located in Gresham, Ore.
 -0- 9/23/93
 /CONTACT: Glenn Glasshagel of HomeTown Buffet, 619-546-9096/
 (HTBB)


CO: HomeTown Buffet Inc. ST: California IN: RET SU: OFR

LH-PK -- SF006 -- 5229 09/23/93 19:18 EDT
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Publication:PR Newswire
Date:Sep 23, 1993
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