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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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