Hooters of America Not a Party to Announced Sale

ATLANTA, March 12 /PRNewswire/ -- Today Hooters of America, Inc (HOA) responded to erroneous reports that the company was part of a potential transaction announced yesterday between Hooters, Inc (HI) and Chanticleer Holdings, Inc. (Chanticleer). Chanticleer has announced its intent to purchase the interest of Hooters, Inc a Tampa Bay area based company that owns 22 Hooters Restaurants and certain rights to develop Hooters Restaurants in the Tampa Bay Florida, Chicago, Illinois and Manhattan Island in New York City, sometime this summer. Hooters of America, Inc, the Atlanta based owner and franchisor of 416 Hooters restaurants throughout 46 states in the US and in 26 foreign countries and the owner of the Hooters Trademark is not a party to this transaction.

Coby Brooks the President and CEO of Hooters of America stated: "while I am happy for the owners of Hooters Inc who are cashing out of Hooters and wish the owners of Chanticleer success in operating their 22 Hooters Restaurants, it is important that the public understand that Hooters of America, Inc which controls the Hooters system will be unaffected by this proposed transaction should it close this summer. I am happy that the success the Hooters system has enjoyed under Hooters of America's leadership over the past two decades has created an environment where our franchisees and rights holders such as Hooters Inc. can find buyers for their interest. There are currently no plans to change the ownership structure of Hooters of America and we will continue on our present course of growth, profits and success."

The first Hooters location opened its doors 25 years ago, and today there are 438 total locations around the world. Hooters is well known for its brand of food and fun, enjoyed in a casual beach-theme atmosphere. The menu features seafood, sandwiches and Hooters' signature spicy chicken wings all served up by the All-American cheerleaders, the Hooters Girls. For more information visit http://www.hooters.com.