Austins Steaks & Saloon, Inc

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International Guild of Hospitality & Restaurant Managers

317 Kimball Avenue N.W.
Roanoke , VA 24016
Phone: (540) 345-3195
Fax: (540) 345-0831

Austins Steaks & Saloon, Inc., incorporated in December 1992, operates and/or franchises the Austins Steaks & Saloon, WesterN SizzliN, WesterN SizzliN Wood Grill, Great American Steak & Buffet, Quincy Steakhouses and Market Street Buffet and Bakery concepts. As of December 31, 2001 , the Company operated three WesterN SizzliN restaurants, four Austins Steaks & Saloon restaurants and 10 Great American Steak & Buffet restaurants. In addition, approximately 132 franchisees operated 215 WesterN SizzliN, Wood Grill, Market Street Buffet and Bakery, Great American Steak and Buffet and Quincy restaurants, as of December 31, 2001 .

During June 2000, the Company negotiated a short-term lease agreement with Franchise Finance Corporation of America (FFCA). The lease agreement with FFCA was entered into by Western Sizzlin Stores of Virginia , an entity that was formed for the sole purpose of entering into this agreement. Under the short-term lease agreement, the Company leased and operated 97 Quincy Steakhouses owned by FFCA. In December 2000, the Company closed 44 of the restaurants. Of the 53 restaurants that remained open at December 31, 2000 , 43 restaurants were franchised in 2001 and the remaining 10 restaurants were closed during the first quarter of 2001.

The Company's restaurants are located in the states of Alabama, Arizona, Arkansas, Colorado, Florida, Georgia, Illinois, Kansas, Kentucky, Louisiana, Maryland, Mississippi, Missouri, Nebraska, New Mexico, North Carolina, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Virginia and West Virginia. Its restaurants emphasize two traditional American-style offerings. The first is the traditional family style steakhouse. The primary red meat offering has grown and now includes a vast array of chicken, pork, seafood and many other protein dishes. The second is a full line of both hot and cold food buffet. The rotating daily menu offerings, displayed on one of the Company's many scatter bars in the buffet area, demonstrate its home cooking flavor profile.

Disclaimer:
The data included within the Financial section is solely for information and does not construe a recommendation and/or endorsement by IGHRM or its members to invest funds with any of the companies listed. You are strongly urged to obtain professional advice with qualified individuals or corporations for any investments of funds.