OTHER NEWS - March 20, 1996

Islands Stake to Be Sold: Chart House Enterprises Inc. said it agreed to sell a 75% stake in its Islands restaurant operations to Islands Restaurants, the owner and licenser of the Islands concept, for $23 million. Chart House said it will retain a 25% interest in the partnership. The Solana Beach, Calif., company said the move will allow it to focus on its core business, Chart House restaurants. Islands Restaurants will acquire 12 Islands restaurants in the Southland and Phoenix and six Islands restaurants in south Florida. Islands Restaurants will reassume responsibility for managing its 15 Islands restaurants in the Los Angeles and Dallas markets and will enter into new agreements to manage the 18 restaurants to be acquired. The deal is expected to close at the end of April.