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INTERNATIONAL FAST FOOD OPENS THIRD TRADITIONAL BURGER KING RESTAURANT IN POLAND; PLANS TO OPEN THREE ADDITIONAL SITES; REPORTS RESULTS

 MIAMI BEACH, Fla., May 19 /PRNewswire/ -- International Fast Food Corp. (NASDAQ: FOOD), the Burger King(R) franchisee with the exclusive development rights for the Republic of Poland, today announced it has opened its third traditional Burger King restaurant in Warsaw and its first site to offer entertainment and fast food combined under one roof.
 Mitchell Rubinson, International Fast Food's chairman and chief executive officer, said this latest restaurant is designed to be the company's flagship site. Located in downtown Warsaw, the 8,000-square- foot restaurant can seat over 200 people on two levels and serve up to 5,000 people daily. The restaurant features two dining areas, one for adults and one for children, and also features a video game room and children's play area.
 International Fast Food's two existing traditional Burger King restaurants are also located in central Warsaw.
 Rubinson said the company has secured up to 15 additional locations throughout Poland for its Burger King concept and expects to open three more restaurants by the end of the year.
 First-Quarter Results
 For the first quarter ended March 31, 1993, the company generated revenues of $321,698 and, as anticipated, a net loss of $514,775, or 17 cents per share, on 2,995,000 weighted common shares outstanding, compared with a net loss of $69,715, or 3 cents per share, on 2,247,500 weighted common shares outstanding, in the first quarter of 1992. The company had no restaurants operating in the first quarter of 1992; therefore, it generated no revenues during the period.
 "For a start-up company, we are encouraged by vigorous sales from our newly opened units," Rubinson said. "Since site negotiations have proceeded faster than we had anticipated, we have been able to accelerate construction of the traditional restaurant units and bypass temporary mobile units and kiosks that were originally planned. This should contribute to accelerate revenue gains and long-term profitability."
 International Fast Food was organized in December 1991 to develop franchised Burger King restaurants in the Republic of Poland. The company's development agreement calls for the company to open at least 13 Burger King restaurants by September 1996. It completed an initial public offering of approximately 1.5 million shares in May 1992, generating $6.1 million in net proceeds, which will be used to develop restaurants. In December 1992, the company raised an additional $11.4 million from the sale of a 9 percent convertible subordinated debenture due 2007.
 At March 31, 1993, the company had working capital totaling $10,783,394, short-term investments and cash equivalents of approximately $12,665,853, and shareholders' equity of $4,741,107.
 Poles Enthusiastically Greet Burger King
 "We are gratified by the enthusiastic response Burger King has received from the Poles," Rubinson said. "Our concept of entertainment and food under one roof at a fast-food restaurant appears to be a great success. We introduced the idea in Poland of video games to attract consumers to come for the food and to stay for the fun, and vice versa -- come for the fun and stay for the food." Rubinson said at certain times, when patrons purchase food items, they will receive a token for free play in the video arcade.
 Rubinson added that while Polish consumers are well-acquainted with the fast-food concept, they are hungry for western culture. "Poland's appetite for both American and western products and lifestyles should help our restaurants as we continue to expand throughout the country."
 -0- 5/19/93
 /CONTACT: Mitchell Rubinson, CEO of International Fast Food, 305-531-5800; or Philip Thomas or Audrey Lowe of the P.L. Thomas Group, 312-906-8060, for International Fast Food/
 (FOOD)


CO: International Fast Food Corp. ST: Florida IN: LEI SU: ERN

GK-KW -- NY064 -- 0349 05/19/93 14:01 EDT
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Publication:PR Newswire
Date:May 19, 1993
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