Benihana Plans to Open in Arizona

Benihana Inc., operator of one of the nation's largest chain of Asian restaurants, has signed a lease and plans to open a new Restaurant in Scottsdale, Arizona, that will increase to 56 the number of teppanyaki restaurants the Company currently has open or under development.

In addition, two new Franchises have been signed for new Benihana teppanyaki restaurants in Peru and Trinidad. A new Franchise recently opened for business in Venezuela, bringing to 17 the number of Benihana franchised restaurants currently in operation.

The new Scottsdale restaurant will be approximately 8,200 square feet in size, with development and construction expected to be completed in approximately a year's time.

Benihana currently operates 60 restaurants in 19 states coast-to-coast. Under development, in addition to Scottsdale, are new teppanyaki units in Westbury, NY, and Las Colinas and The Woodlands, Texas. The Texas restaurants are expected to open this Spring.

The new franchise units include Benihana's third restaurant by the same franchisee in Caracas, Venezuela, which is located at Simon Bolivar Airport, and a second by the same operator in Lima, Peru. A 9,000-square-foot Benihana franchise restaurant with 24 tables is currently under development in Edison, NJ and is expected to open in the fall of 2002.