Ultimate Franchise Systems, Inc

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International Guild of Hospitality & Restaurant Managers

300 International Parkway, Suite 100
Heathrow , FL 32746

Phone: (407) 682-6363
Fax: (407) 682-5522

Ultimate Franchise Systems Inc., formerly Jreck Subs Group, is a franchisor of submarine sandwich restaurants and drive-through hamburger restaurants. In May 1996, the Company was acquired by Circa Media, Inc., a Colorado corporation formerly engaged in reproducing archival, public domain art and photographs in digital form. Pursuant to the acquisition, Circa Media, Inc. changed its name to Jreck Subs Group, Inc. The former business of Circa Media, Inc. was discontinued, and, in June 2000, the Company changed its name from Jreck Subs Group, Inc. to Ultimate Franchise Systems, Inc.

In February 2001, the Company completed a reverse merger whereby 100% of the outstanding common stock of the its wholly owned subsidiary, SBK Franchise Systems, Inc., the franchisor of the Sobik's Sub chain, was acquired by Krypton Distribution Corp. Upon completion of the merger, SBK Franchise Systems, Inc. changed its name to Sobik's International Franchising, Inc. Ultimate Franchise has primarily grown through acquisitions and now consists of Ultimate Franchise Systems, Inc. (UFSY) and the Company's subsidiaries: Predominant Restaurant Concept, Jreck Subs, Inc., Central Park of America, Inc. (Central Park), Sobik's International Franchising, Inc., Li'l Dino Corporation and Pastry Product Producers, LLC.

Ultimate Franchise is a multiple-concept franchisor of submarine sandwich restaurants and drive-through hamburger restaurants. Through its concepts, the Company offers a menu of fresh submarine sandwiches, hamburgers, chicken sandwiches, french fries, soups and hot and cold side order items, as well as a full line of bagel offerings at selected franchise locations.

Submarine Sandwich Menu and Stores

Through three of its subsidiaries, the Company offers a lunch and dinner menu of different submarine sandwiches, soups and hot and cold side orders, as well as a line of bagels and additional breakfast items. Ultimate Franchise's submarine shop philosophy is to offer a wider selection of menu items and ingredients, such as rib eye steak, cooked on the premises. The food preparation area is open to customer view to engage customer interest and to showcase cleanliness and freshness. The food preparation process is designed to deliver a completed food order within 60 seconds. In addition, Ultimate Franchise offers a selection of soft drinks, deep-fried mushrooms, cheese sticks and french fries, as well as dessert items such as cookies.

As of September 30, 2001 , there was an aggregate of 86 franchised locations under various submarine sandwich concepts. Each location is designed as a dine-in location, with many offering a drive up window. Restaurants are located in strip shopping centers, shopping malls and free-standing buildings.

Hamburger Menu and Stores

Central Park provides its products under a fast service, double drive-through restaurant format. Central Park offers hamburgers, french fries, chicken sandwiches, hot dogs and soft drinks. Some Central Park locations also offer a limited breakfast menu consisting of breakfast sandwiches, hash browns and pastries. The Central Park locations are designed for drive-through, several with walk-up order service. Some restaurants provide limited outside seating. As of September 30, 2001 , there were 55 locations under the hamburger concept. Also as of September 30, 2001 , Ultimate Franchise had a combined 141 submarine sandwich and hamburger restaurants.

The Company continues to have financial interests in its former subsidiaries, Mountain Mike's Pizza and Seawest Subs franchise concepts, which have approximately 80 restaurants and 30 restaurants, respectively. The Mountain Mike's Pizza franchises are located in California and Seawest Subs franchises are located in Seattle , Washington .

The three most prolific submarine sandwich chains the Company competes with are Subway, Blimpie and Quiznos. Competitors of the Company's Central Park hamburger chain include Checkers Drive-In Restaurants and Back Yard Burgers.

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 advised to obtain professional advice with qualified individuals or corporations for any investments of funds.

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