Family Steak Houses of Florida Inc. Introduces New Concept

Family Steak Houses of Florida, Inc. (OTCBB:RYFL), today unveiled plans for its Florida restaurants by releasing a new concept in family-buffet dining and creating a new brand that will be known as the Whistle Junction.
Family Steakhouses of Florida, Inc. owns and operates 18 restaurants throughout Florida. Now operating as Ryan's Grill, Buffet, and Bakery, the company has reached a mutual agreement by amending its franchisee agreement with Ryan's Properties, Inc. to proceed in this strategic direction. The company is moving to the new concept by opening the first restaurants under the new brand by the first quarter of 2004.

Most of the existing restaurants will be converted into the Whistle Junction concept and brand through design and renovation. The company has already begun construction at a brand new Whistle Junction location in Orlando on International Drive.

The construction process will commence on a phased approach and should be completed by 2005. The first Whistle Junction locations will open in Brooksville, Deland, and the new Orlando location.

Construction costs for the conversions of the restaurants are estimated to cost approximately $300,000 per unit. The Brown Group of Palo Alto, California is overseeing the design concept with Michael Walburn Architects of Jacksonville, Florida.

With the opening of Whistle Junction, the company expects to hire approximately 50-100 new employees at each location. In Orlando, company officials expect to hire approximately 150 employees.

"The Whistle Junction is a unique concept that blends well with our character as a family-buffet restaurant," said Edward Alexander, president and COO of Family Steakhouses of Florida, Inc. "The Whistle Junction represents a train station that has such great heritage in our lives -- from children to senior citizens."

The Whistle Junction restaurant concept will have prominent icons and imagery that include a water tower, whistle tower and clock tower, all reminiscent decor of the train station platform on the exterior. Inside the restaurant, branding will be reinforced with other train station memorabilia, including operating toy trains.

"We will transform our restaurants into a new experience for our dining atmosphere (both inside and outside), but still maintain the highest standard for the quality of our food and service. This unique concept is adding an element of fun and creativity to our family-oriented restaurant," Alexander added.

The Brown Group is noted for their experience in creating unique restaurant atmospheres through design, concept and operations. Most recently, the group's CEO Robert Brown, opened the first-ever Murray Bros. Caddyshack, in St. Augustine, Fla. at the World Golf Village. Brown has an extensive background working with noted brands such as Hard Rock Cafe and Darden Restaurants (Red Lobster and Olive Garden).

"This is forward thinking and provides a platform for growth," said Robert (Bob) Brown. "In today's marketplace, creative brands with family appeal that can continue to evolve, provide the best opportunity and appeal to a broader base of customers. This makes a more favorable expansion concept," he added.


Logos, product and company names mentioned are the property of their respective owners.

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