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Numero Uno expands into the Philippines
VAN NUYS, Calif.--(BUSINESS WIRE)--Oct. 29, 1996--N.U. Pizza Corp. (OTC:NUZA)
has announced that the company has licensed a Philippines group headed by Ed
Abad to open up 35 units throughout the Philippines.
According to Abad, they have secured the rights to the name Numero Uno for the
Philippines and anticipate that the first unit will be open by the end of 1996.
The group not only plans to open up the typical Numero Uno concept, but is also
interested in developing the company's new dual concept, and will be developing
express and delivery/takeout units as well.
With the opening of this first Philippines unit and the first unit in Indonesia, which is
scheduled to open up in December, NUZA will have a total of 17 units open in the
international marketplace. The company expects four more restaurants to open in
Korea, two in Kuwait and one in Indonesia during the fiscal year ending June 30,
1997.
Because of Securities and Exchange Commission regulations, the company did not
recognize any earnings from the sale of Indonesia or the Philippines during its recent
first quarter, but, both operations should make a significant contribution to the
company's earnings and profitability for its second quarter. Nevertheless, the company
expects to report a profit for its first quarter.
The company also expects to finalize the acquisition of the 10-unit "Oregon's Original
Sandwich Express and Bakery" chain by the middle of November. The company will
immediately convert the units into its new dual concept and believes that the new dual
concept will generate sales in excess of industry averages.
It will also give the company the vehicle and name that it needs to expand and develop
outside of California and the company intends to begin developing company-owned
restaurants and selling individual and territorial franchises of its new dual concept early
in 1997.
As stated in its most recent 10K, "management feels that the company is in its best
position since the last 1980's. The company is ready to achieve ongoing profitability
and rapid growth."
CONTACT: N.U. Pizza Holding Corp., 619/259-6322
619/259-6328 (fax)
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