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TUBBY'S ARRANGES FINANCING FOR CAFE EXPRESS SUBSHOP EXPANSION

 STERLING HEIGHTS, Mich., Nov. 12 /PRNewswire/ -- Tubby's, Inc. (NASDAQ: TUBY) has entered into an agreement to provide capital financing for up to 20 Sears Cafe Express SubShops, Alex Bardy, Tubby's president and CEO, today announced.
 Tubby's Inc. has formed a subsidiary called The McTub Co. whose purpose is to finance the expansion of Cafe Express SubShops in Sears stores. Tubby's, Inc. owns a majority interest in The McTub Co., with the balance held by Bloomfield Hills, Mich., businessman Patrick J. McCourt. McCourt is a retired PaineWebber executive and registered investment advisor affiliated with Woodward Securities in Birmingham, Mich. He is a major shareholder of Tubby's, Inc.
 Tubby's operates three of the popular Cafe Express SubShops in Sears stores in Fairlane Town Center and Oakland Mall near Detroit and Fairfield Commons Mall in Beaver Creek, Ohio, near Dayton. Two additional Cafe Express openings are planned by month's end in Livonia and Grand Rapids, Mich. A sixth Cafe Express will open in Cleveland early next year.
 The Cafe Express SubShops serve Tubby's famous submarine sandwiches, salads, desserts, soft drinks, gourmet coffee and Morley's premium chocolates. The Cafe Express SubShops are patterned after the company's highly successful prototype store opened in February.
 Tubby's, Inc., founded in Michigan, is the franchisor for Tubby's SubShops and Stuff-Yer-Face Restaurants and the owner and operator of Cafe Express Specialty SubShops with 62 stores in Michigan, Ohio, Illinois and New Jersey.
 -0- 11/12/93
 /CONTACT: Kevin Sullivan of Tubby's, 313-978-8229; or Mike Marcotte of Marcotte Public Relations, 313-656-3873, for Tubby's/
 (TUBY)


CO: Tubby's Inc.; The McTub Co. ST: Michigan IN: FOD SU: FNC

KE -- DE026 -- 3804 11/12/93 15:33 EST
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Publication:PR Newswire
Date:Nov 12, 1993
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