WICHITA, Kan., Jan. 14, 2003 (PRIMEZONE) -- Lone Star Steakhouse & Saloon, Inc. ("Lone Star") (Nasdaq:STAR) today announced the closing in the fourth quarter 2002 of four (4) underperforming international Lone Star Steakhouse & Saloon restaurants located in Australia, specifically the city of Melbourne in the State of Victoria. No impairment charges will be recorded regarding these restaurants as impairment charges were previously recorded in prior years. Closing costs associated with these restaurants is not expected to be material.
Lone Star owns and operates 249 domestic and 20 international Lone Star Steakhouse & Saloon restaurants; 15 Sullivan's Steakhouse restaurants; and five Del Frisco's Double Eagle Steak House restaurants. Licensees operate three domestic and one international Lone Star restaurants, and one domestic Del Frisco's Double Eagle Steak House restaurant.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the Company believes the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements contained in the press release will prove to be accurate.