Smith and Wollensky Restaurant Group

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International Guild of Hospitality & Restaurant Managers

1114 First Avenue
New York , NY 10021

Phone: (212) 838-2061
Fax: (212) 758-6027

The Smith & Wollensky Restaurant Group Inc., incorporated in October 1997, is a developer, owner and operator of high-end, high-volume restaurants in the United States . The Company's core concept is Smith & Wollensky, a classic American restaurant. At December 31, 2001 , the Company operated 14 restaurants, nine of which it owned and five of which it managed. The Smith & Wollensky Restaurant Group owns six of the seven Smith & Wollensky restaurants it operates. Each of its restaurants provide a fine dining experience, offering distinctive food, creative menus, an extensive wine selection and customer service, accompanied by attractive design and decor.

In 1977, the original Smith & Wollensky restaurant, which the Company manages, opened in New York City . Three years later, the Company developed, and, as of December 31, 2001 , managed The Post House, a distinctive steak and chophouse with an American theme. In 1984, The Smith & Wollensky Restaurant Group opened the Manhattan Ocean Club, an upscale seafood restaurant, and, in 1989, opened Cite, a Parisian grand cafe-style restaurant. The Park Avenue Cafe concept, which began in 1992, combines country-style new American cuisine in a cafe atmosphere, while Maloney & Porcelli, which the Company developed in 1996, and, as of December 31, 2001 , managed, presents updated classic American cuisine. In 2000, The Smith & Wollensky Restaurant Group helped to develop and, as of December 31, 2001 , managed ONEc.p.s., an American brasserie in the Plaza Hotel in New York .

The Company's owned restaurants were originally owned by a series of partnerships and limited liability companies under a common control group. In August 1995, The New York Restaurant Group, LLC, the Company's predecessor entity, was formed as a holding company for these operating entities. In January 1996, The Smith & Wollensky Restaurant Group and the operating entities entered into a group of related roll-up transactions, pursuant to which the owners of the operating entities transferred their equity interests or operating assets to the Company for cash or membership interests.

Smith & Wollensky restaurants feature United States Department of Agriculture (USDA) prime grade beef served in generous portions. Each Smith & Wollensky restaurant dry ages and butchers its beef on the premises. During this dry aging process, which takes three to four weeks to complete, the beef generally loses approximately 10% to 20% of its weight. Although the dry aging process is expensive and time consuming, it may produce a more flavorful and tender steak than alternative processes.

The Company's menu also offers seafood, including three- to 13-pound lobsters, fish, veal, lamb and poultry. Freshly baked bread is served as well. Complementing its substantial main courses, the Company's dessert menu features traditional desserts, such as cheesecake and carrot cake, as well as other specialized confections prepared on location by its pastry chefs.

Fine wine is an integral part of the Smith & Wollensky dining experience. Smith & Wollensky restaurants boast an extensive wine inventory of over 72,000 bottles. In addition, Smith & Wollensky in New York has over 25,000 bottles of wine.

Most Smith & Wollensky's incorporate a Wollensky's Grill, a more informal alternative that offers menu selections similar to those offered at Smith & Wollensky in smaller, lower-priced portions, as well as hamburgers and sandwiches. Wollensky's Grill provides flexibility for Smith & Wollensky, and the two dining areas have the ability to expand and contract relative to one another to accommodate customer demand. Wollensky's Grill generally has a separate entrance and offers expanded late-night hours. A Wollensky's Grill typically seats up to 125 customers. In several locations, the Wollensky's Grill menu is offered in addition to the Smith & Wollensky restaurant menu in the main dining room.

All of the Company's owned Smith & Wollensky restaurants have dedicated banquet facilities. These facilities host numerous events that generate higher per-person average checks than do its restaurants. In addition to these dedicated banquet facilities, all of the Company's Smith & Wollensky restaurants have the capacity to host banquets and parties, and most of its Smith & Wollensky restaurant locations have separate banquet managers that coordinate these special events.

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