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From: Wrapsters via BizWire <C-bw@clari.net>
Newsgroups:
clari.biz.industry.banking.releases,clari.biz.industry.food.releases
Date: Sunday, January 10, 1999 4:05 PM
Subject: Wrapsters Approved to Trade Under Symbol OTC BB:WRAP
>
> ATLANTA--(BUSINESS WIRE)--Jan. 10, 1999--Wrapsters, one of the
>country's most exciting quick service restaurant chains that
>specializes in gourmet wrap sandwiches, "Burrito's with Attitude",
>using 99% fat free tortillas, and accompanied by a variety of no-fat
>no-cholesterol fruit smoothies announced today that its common stock
>is now quoted on the OTC Bulletin Board under the symbol WRAP.
> Wrapsters is in the business of developing and operating a unique
>concept which provides healthier, flavorful food, which is viewed as
>an exciting and compelling alternative to existing fast food outlets.
> "With the burger market being completely saturated, as evidenced
>by McDonalds' (NYSE: MCD) recent troubles, wrap restaurants are being
>seen as the ultimate antidote, offering customers healthier and more
>diverse eating options and franchisees a more efficient and profitable
>operation:" says Craig LaBan, restaurant columnist for Living
>Magazine.
> The company's business model calls for rapid nationwide expansion
>through a system of company-owned stores, franchisees and strategic
>acquisitions and alliances. The company currently operates 6 stores,
>two of which have been in Miami's Pro Player Stadium. The company has
>finalized a strategic relationship with Diversified Foods, Inc., of
>Cincinnati, OH for the Master Franchise Development Rights for the
>state of Ohio, which calls for the initial development ten stores in
>Cincinnati and the sale of additional franchises though out the state.
> Wrapsters was co-founded in 1996 by the dynamic leadership team
>of Clyde E. Culp III, whose prior experience includes President/CEO of
>Long John Silvers, President/CEO of Embassy Suites Hotels, and founder
>of the world's largest Wendy's (NYSE: WEN) franchise in 1975, and
>Thomas E. Metzger, FMP, whose successful restaurant career includes
>COO for Cinnabon World Famous Cinnamon Rolls and President/CEO of
>Kenny Rogers's Roasters.
> According to Thomas E. Metzger, FMP President of Wrapsters, "The
>combination of America's demand for a healthier food alternative and
>the tremendous operating system that has been implemented, we are
>confident the company's concept will catch on quickly, creating
>significant revenues in 1999 and beyond."
>
> Forward Looking Statements:
>
> This news release contains forward looking statements within the
>meaning of the Private Securities Litigation Reform Act of 1995, which
>provides a new "Safe Harbor" for these types of statements. To the
>extent statements in this news release involve, without limitation,
>product development and introduction plans, the company's expectations
>for growth, estimates of future revenues, earnings, cash flow,
>franchise sales, balance sheet items, forecasts and/or demand for
>product and for the industries in which the Company operates or any
>other guidance on future periods, these statements are forward
>looking. The Company assumes no obligation to update forward looking
>statements.
>
> For additional information, visit the company's web site at
>http://www.wrapsters.com
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