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VOLUNTEER CAPITAL CORPORATION ANNOUNCES SALE OF 870,000 SHARES

 NASHVILLE, Tenn., Sept. 17 /PRNewswire/ -- Volunteer Capital Corporation (NYSE: VCC) today announced the sale by the company of 870,000 shares of common stock at $10.00 per share.
 The proceeds of the offering will be used to finance the development of additional J. Alexander's and Wendy's restaurants and for general corporate purposes.
 J.C. Bradford is the sole underwriter of the offering. The company has granted the underwriter an over-allotment option to purchase up to 130,000 additional shares of common stock.
 Volunteer Capital Corporation is headquartered in Nashville and operates 52 franchised Wendy's Old Fashioned Hamburger restaurants in four states and has three J. Alexander's full-service, casual dining restaurants in two states.
 This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state. Copies of the prospectus relating to the offering may be obtained from the underwriter.
 -0- 9/17/93
 /CONTACT: R. Gregory Lewis of Volunteer Capital Corporation, 615-269-1900/
 (VCC)


CO: Volunteer Capital Corporation ST: Tennessee IN: SU: OFR

BN-CF -- AT002 -- 2957 09/17/93 09:02 EDT
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Publication:PR Newswire
Date:Sep 17, 1993
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