Landry's Delivers Letter To Ark Restaurants Corp. Requesting Response To $22.00 Per Share Offer

As previously stated, we are fully committed to pursuing this transaction and have at our disposal the financial and professional resources to swiftly consummate an acquisition.  We believe that the Company's stockholders will find our $22.00 per share proposal extremely attractive and hope that the Board will take the opportunity to meet with us as promptly as possible and negotiate a transaction that will allow stockholders to realize this substantial value.  We place significant value on the ability to close this transaction quickly.  There can be no assurance that in the future any other potential buyer would pay the same high premium that we are proposing.  Further, if as a result of our discussions and confirmatory due diligence, we find evidence of additional value inherent in the Company based on operating results, synergies or otherwise, we would be willing to consider an adjustment to our proposal to reflect this additional value. 

We firmly believe that a negotiated transaction would be in the best interests of all stockholders. If you are willing to engage in mutually beneficial discussions, we and our advisors are ready to meet with you and your representatives at any time to discuss our proposal. We believe that time is of the essence and are prepared to move forward expeditiously by committing all necessary resources to complete a transaction quickly. I urge you to contact me as soon as possible so that we may initiate a productive dialogue.  In our view, the Board's fiduciary duties demand no less.

Should the Company reject our good faith proposal, we reserve the right to take any and all actions that are, in our view, necessary to preserve and protect the best interests of stockholders.

Respectfully,

/s/ Tilman J. Fertitta
Tilman J. Fertitta
Chairman and CEO

Forward-Looking Statements

This press release contains forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including, without limitation, general economic conditions. Although Landry's believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could be inaccurate, and therefore, there cannot be assurance that any forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in any forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Landry's or any other person that the objectives and plans of Landry's will be achieved.

ABOUT LANDRY'S, INC.: Landry's is a national, diversified restaurant, hospitality, gaming and entertainment company principally engaged in the ownership and operation of high end and casual dining restaurants, primarily under the names of Landry's Seafood House, Rainforest Cafe, McCormick & Schmick's Seafood Restaurant, The Chart House, Bubba Gump Shrimp Co., Claim Jumper, Saltgrass Steak House and Oceanaire, and fine dining restaurants such as Morton's Steakhouse. The Company is also engaged in the ownership and operation of gaming, hospitality and entertainment businesses, including the Golden Nugget Hotel & Casinos in Las Vegas and Laughlin, Nevada, and Atlantic City, the Kemah Boardwalk, the San Luis Resort Complex, and the Downtown Aquariums in Denver and Houston.

SOURCE Landry's, Inc.