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TPI ENTERPRISES ANNOUNCES PROPOSED MAJOR CAPITAL INFUSION

 WEST PALM BEACH, Fla., and MEMPHIS, Tenn., Feb. 5 /PRNewswire/ -- TPI Enterprises, Inc. (NASDAQ-NMS: TPIE), today announced an agreement in principle that would provide a substantial investment in the company designed to enhance the expansion of the company and to provide additional operational flexibility. The $30 million investment would come from persons and entities related to certain members of the Bass family of Fort Worth, Texas and is earmarked for accelerated expansion of the Shoney's concept and the paydown of debt.
 Commenting on the investment, Stephen R. Cohen, chairman of TPI, stated, "This investment will provide the company with an even stronger capital base and allow us to accelerate our expansion plans. We are pleased about the proposed investment and look forward to a strong working relationship with certain members of the Bass family and their representatives, two of whom will join our board."
 Under the terms of the proposal, the Bass-related parties and the Airlie Group L.P. will purchase common stock, warrants, and convertible debentures for an aggregate of $30 million. Consummation of the transaction is subject to, among other things, board approval, the receipt of a fairness opinion, and the completion of due diligence by the purchasers.
 TPI, one of the largest restaurant franchisees in the United States, currently owns and operates 260 restaurants including 182 Shoney's and 69 Captain D's in nine southern states.
 -0- 2/5/93
 /CONTACT: Frederick W. Burford of TPI, 901-725-6400/
 (TPIE)


CO: TPI Enterprises, Inc. ST: Florida, Tennessee IN: LEI SU:

GK-OS -- NY005 -- 3402 02/05/93 09:25 EST
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Publication:PR Newswire
Date:Feb 5, 1993
Words:259
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