Tuesday June 16, 10:47 am Eastern Time
Company Press Release
Eat At Joe's Ltd. Commences Construction on Moorestown Mall and
Baltimore Inner Harbor Units
University City Diner to Open Before End of June
Company's Philadelphia Airport Unit Sales Running Ahead of Forecast
CHERRY HILL, N.J.--(BUSINESS WIRE)--June 16, 1998--Eat At Joe's Ltd. (OTC BB: JOES - news), an emerging 1950s style
diner restaurant chain, has commenced construction of two new Eat at Joe's restaurant units at Moorestown Mall, Moorestown, N.J.
and Baltimore's Inner Harbor Gallery, Baltimore, Md., it was announced today by Joseph Fiore, chairman and CEO of Eat at Joe's.
Said Fiore: ''Since November 1997, Eat at Joe's has opened four restaurants with another four currently under construction, of which
two are scheduled for opening by mid-July. We are on target with funding in hand to reach our goal of 10-15 restaurants to be open by
the end of the year.''
''Construction of the company's first sit-down unit with seating for 160, at 3925 Walnut Street near the University of Pennsylvania in
Philadelphia, is nearing completion and should be open for business before the end of June. The company's second sit-down unit at the
Gallery at Market East in Philadelphia's Center City, with seats for 80 and a full bar, is also well underway and is expected to open by
mid-July.''
''We are very pleased with the initial results of the company's Philadelphia Airport unit which opened on May 23rd with sales running
significantly ahead of forecast. Sales at the Echelon Mall unit, which opened on May 9th are also on target,'' Fiore said.
Eat At Joe's is a diversified restaurant organization, initially building a new chain of 1950's style diners featuring quality, home-cooked
American meals at affordable prices in an appealing and fun atmosphere.
Except for historical matters contained herein, the matters discussed in this press release are forward-looking statements and are
pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements reflect assumptions and involve risks and uncertainties which may affect Eat At Joe's Ltd.'s business
and prospects and cause actual results to differ materially from these forward-looking statements.
For further information, please contact:
The Wall Street Group Inc. World Vision Financial Group
32 East 57th Street 238 Wilshire Blvd., Suite 149
New York, N.Y. 10022 Casselberry, Fla. 32707
212/888-4848 888/345-6060
Attn: Ron Stabiner Attn: Orville Baldridge
vice president CEO
Eat at Joe's Ltd.
670 White Plains Road, Suite 120
Scarsdale, NY 10583
914/725-2700
Attn: Joseph Fiore, chairman & CEO
Visit the Eat At Joe's Website at: eatatjoesltd.com. |
