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SYTJE'S PANNEKOEKEN HUIS FAMILY RESTAURANTS, INC. ANNOUNCES ITS INITIAL PUBLIC OFFERING

 MINNEAPOLIS, April 12 /PRNewswire/ -- Sytje's Pannekoeken Huis Family Restaurants, Inc. announced today it has filed a registration statement with the Securities and Exchange Commission for the sale of up to 500,000 units, each unit consisting of two shares of common stock and one redeemable common stock purchase warrant. The units are expected to be sold on a "firm commitment" basis through an underwriting group to be managed by Hayne Miller & Farni, Inc. The company expects the offering to become available to the public in mid May, at a price of $6 per unit.
 Pannekoeken owns and operates 10 restaurants primarily in the Minneapolis-St. Paul metropolitan area. In addition, the company has four franchised restaurants, three in the Minneapolis-St. Paul area and one in Rochester, Minn.
 The net proceeds from the offering will be used to open additional restaurants, remodel certain restaurants and reduce the company's outstanding debt.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 Copies of the prospectus relating to the offering may be obtained from


Hayne Miller & Farni, Inc., 920 Second Avenue South, Suite 1600 International Centre, Minneapolis, Minn. 55402.
 -0- 4/12/93
 /CONTACT: Todd D. Novaczyk of Sytje's Pannekoeken Huis, 612-944-8090, or Wesley C. Hayne of Hayne Miller & Farni, 612-339-1200, for Sytje's Pannekoeken Huis/


CO: Sytje's Pannekoeken Huis Family Restaurants, Inc. ST: Minnesota IN: LEI SU: OFR

AL -- MN011 -- 4954 04/12/93 17:53 EDT
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Publication:PR Newswire
Date:Apr 12, 1993
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