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Microcap & Penny Stocks : Restaurant Teams International, Inc.-RTIN -- Ignore unavailable to you. Want to Upgrade?

To: Lee Walsh who wrote (222)	10/22/1998 11:51:00 AM
From: KZAP	Read Replies (1) \| Respond to of 3351

Isn't it nice? <<<Thursday October 22, 11:06 am Eastern Time Company Press Release SOURCE: Restaurant Teams International, Inc. Restaurant Teams International, Inc. Announces New Street Talk Cafe Locations and Possible Old San Francisco Steak House Locations LONGVIEW, Texas, Oct. 22 /PRNewswire/ -- Restaurant Teams International, Inc. (OTC Bulletin Board: RTIN - news) announced today that the Company has signed letters of intent to purchase the assets and assume the leases for locations in Addison and Plano, Texas for conversions to the Street Talk Cafe concept. The company also announced that it has signed a letter of intent on a 45,000 square foot ground lease at I-635 and MacArthur Avenue in Irving, Texas for a Street Talk Cafe location. In addition, the Company has begun looking at potential sites for the 1999 expansion of Old San Francisco Steak House. The Addison and Plano, Texas sites are located in two of the busiest and affluent markets in the Dallas/Ft. Worth metroplex. The Addison location at Montfort and Beltline Road sits in the dense office and housing corridor along the North Dallas Tollway. The Plano, Texas location at 15th and North Central Expressway is adjacent to Plano's Collin Creek Mall. Closing on both locations is expected to occur on or before November 1, 1998 with anticipated openings in fourth quarter 1998. The Irving, Texas site is located on the northwest corner of I-635 and MacArthur Avenue on a 110 acre development that will include Super Wal-Mart and a multi-screen theater. Projected opening of the Irving Street Talk Cafe is early second quarter of 1999. The Company is also reviewing sites in existing markets for the Old San Francisco Steak House brand. The Company announced last week that it had entered into definitive agreements to purchase the chain with a closing expected to occur about November 15, 1998. Old San Francisco Steak House, with headquarters in San Antonio, Texas, operates four Old San Francisco Steak Houses in Texas with annual sales of Company owned units in excess of $13.2 million. The Company also licenses one unit in Las Vegas, Nevada, will open another licensed location in Atlanta, Georgia in 1998 and another in Oklahoma City, Oklahoma in mid-1999. After the acquisitions, the Company expects to end 1998 with a total of five Street Talk Cafe restaurants, one Fresh'n Lite Cafe and Grill restaurant, four Company owned Old San Francisco Steak House restaurants and two licensed Old San Francisco Steak Houses. The combined units (12) represent 300% system-wide unit growth in 1998. Additionally, the combined pro-forma sales from Company owned units would result in a 433% increase in annual revenue. In making the announcement, Henry Leonard, President and Chief Operating Officer of the Company stated, ''We are very excited about our new unit growth for 1998 and 1999. Our expansion strategy of acquiring existing units for conversion along with developing traditional restaurants will help us achieve cost efficient advertising of our Street Talk brand in 1999. In addition, we expect to open at least 2 Company owned Old San Francisco Steak House units in 1999. By targeting current Old San Francisco markets, we hope to have sufficient market penetration to begin broadcast advertising in at least one Old San Francisco market in 1999.'' Restaurant Teams International, Inc. common stock is traded on the OTC-Bulletin Board under the symbol RTIN. For additional information, contact Investor Relations, at 800-259-2675. >>>> Happy investing! KZAP