Eateries, Inc. Board Votes to De-Register Stock OKLAHOMA CITY, Nov. 7 /PRNewswire-FirstCall/ -- Eateries, Inc.'s (BULLETIN BOARD: EATS) Chairman & CEO Vincent F. Orza, Jr. announced today a decision by the Company's Board of Directors to take the Company private by terminating its registration under the Securities Exchange Act of 1934. The decision to go private was based on the progressively higher costs and lack of associated benefits small public companies face in light of the recent changes imposed under the new Sarbanes Oxley regulations. The Board of Directors elected to defer filing the de-registration form with the SEC until December 8, 2003, in order to allow shareholders additional time to utilize the existing public market should they wish to buy or sell shares prior to the Company going private. The filing of the de-registration form with the SEC will immediately suspend Eateries' obligation to file most SEC reports. Eateries, Inc. will cease to be a public company 90 days after the filing of the de-registration form with the SEC. From time to time, the Company may publish forward-looking statements relating to certain matters including anticipated financial performance, business prospects, the future opening of Company-owned and franchised restaurants, anticipated capital expenditures, and other matters. All statements other than statements of historical fact contained in this press release or in any other report of the Company are forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. In order to comply with the terms of that safe harbor, the Company notes that a variety of factors, individually or in the aggregate, could cause the Company's actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company's forward-looking statements including, without limitation, consumer spending trends and habits; competition in the casual dining restaurant segment; weather conditions in the Company's operating regions; laws and government regulations; general business and economic conditions; availability of capital; success of operating initiatives and marketing and promotional efforts; and changes in accounting policies. In addition, the Company disclaims any intent or obligation to update those forward-looking statements. DATASOURCE: Eateries, Inc. CONTACT: Vincent F. Orza, Jr. of Eateries, Inc., +1-405-705-5000 Web site: http://www.eats-inc.com/

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