Benihana Signs Franchise Agreement to Open New Restaurant in Milwaukee (3/01)

Benihana Inc. announced that it has signed a Franchise agreement to open a new Benihana Japanese teppanyaki Restaurant in downtown Milwaukee, Wisconsin.

The planned approximately 8,000-square-foot restaurant is scheduled to open in October 2000. It will be the Company's 14th franchised Benihana.

Total revenues from franchised operations for the prior fiscal year were approximately $25 million. The Benihana franchise program is gaining momentum, evidenced by recent openings in Anchorage, Alaska, Austin, Texas and Lima, Peru, with planned expansion in the coming year in San Antonio, Texas, Milwaukee, Wisconsin and additional growth in South America.

Benihana operates 53 company-owned teppanyaki style restaurants, in addition to the 13 existing Franchises and also owns two Haru sushi restaurants and one Sushi Doraku restaurant.