Darden Restaurants, Inc.

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International Guild of Hospitality & Restaurant Managers

Darden Restaurants, Inc., incorporated in March 1995, is a casual dining restaurant company in the United States . The Company operates 1,131 restaurants in 49 states, including 629 Red Lobster, 472 Olive Garden, 21 Bahama Breeze and nine Smokey Bones BBQ Sports Bar restaurants. Darden has no restaurants in Alaska. In addition, the Company operates 37 restaurants in Canada, including 32 Red Lobster and five Olive Garden restaurants. Darden also operates one Olive Garden Cafe in the United States. The Company operates all of its North American restaurants. In Japan, Red Lobster Japan Partners, a Japanese retailer unaffiliated with Darden, operates 34 Red Lobster restaurants pursuant to an area development and franchise agreement. The Company is the parent company of GMRI Inc. GMRI and other Darden subsidiaries own the operating assets of the restaurants.

Red Lobster

Red Lobster is a casual dining, seafood-specialty restaurant operator it the United States. It offers an extensive menu, featuring fresh fish, shrimp, crab, lobster, scallops and other seafood. The menu includes a variety of specialty seafood and non-seafood appetizers and desserts. Dinner entree prices range from $7.25 to $23, with fresh fish and certain lobster items available at market price. Lunch entree prices range from $4.99 to $10.99. During the fiscal year ended May 27, 2001 (fiscal 2001), the average check per person was between $15 and $16. Red Lobster maintains approximately 142 different menus to reflect geographic differences in consumer preferences, prices and selections in its trade areas, as well as a lower-priced children's menu.

Olive Garden

Olive Garden is a casual dining Italian restaurant in North America. Olive Garden's menu includes a variety of authentic Italian foods, featuring fresh ingredients, and an expanded wine list that includes a broad selection of wines imported from Italy. The menu includes antipasti (appetizers); soups, salad and garlic breadsticks; baked pastas; sautéed specialties with chicken, seafood and fresh vegetables; grilled meats, and a variety of desserts. Olive Garden also uses coffee imported from Italy for its espresso and cappuccino.

Dinner entree prices range from $7.50 to $15.95, and most lunch entrée prices range from $5.75 to $8.95. The price of each entree also includes as much fresh salad or soup as a guest desires. During fiscal 2001, the average check per person was $12.50 to $13.50. Olive Garden maintains approximately 24 different dinner menus and 18 lunch menus to reflect geographic differences in consumer preferences, prices and selections in its trade areas, as well as four different lower-priced children's' menus.

Bahama Breeze

Bahama Breeze is a Caribbean-themed restaurant. The first Bahama Breeze was opened in 1996, and the Company continued to test the concept by opening a limited number of additional restaurants in each of the following years, and began national expansion of the concept in 1998. In fiscal 2001, Darden opened seven Bahama Breeze restaurants in four new markets, bringing the total to 21 restaurants in 15 markets. The Company plans to open eight to 10 new Bahama Breeze restaurants in the fiscal year ended May 26, 2002 (fiscal 2002).

Smokey Bones BBQ Sports Bar

The Company's newest casual dining restaurant concept, Smokey Bones, combines barbecue with a relaxed sports bar atmosphere. Darden opened the first Smokey Bones in September 1999. There are nine Smokey Bones restaurants, and the Company plans to open eight to 10 new Smokey Bones restaurants in fiscal 2002. In June 2001, Darden announced that it would begin national expansion of Smokey Bones.

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