J. Alexander's Corporation and Fidelity National Financial, Inc. Agree on Amendments to Merger Agreement; Announce Cash Tender Offer at $13.00 Per Share

Fidelity National Financial, Inc.

and J. Alexander's Corporation

announced today that they have amended their previously announced merger agreement. Under the amended agreement, FNF has agreed to make an all cash tender offer for all of the shares of J. Alexander's for $13.00 per share in cash, valuing the equity of J. Alexander's at approximately $78 million. FNF's original proposal to acquire J. Alexander's was for $12.00 per share in a combination of cash and stock. Lonnie J. Stout II, Chairman, President and Chief Executive Officer, said the amended merger agreement has been unanimously approved by the J. Alexander's board of directors and that the Company's board recommends that J. Alexander's stockholders tender their shares into FNF's tender offer. “The J. Alexander's board believes that FNF's tender offer is in the best interest of all shareholders, maximizes value for all shareholders and provides for a substantial cash premium,” Stout emphasized. A complete description of the terms of the amended merger agreement and the reasons for the J. Alexander's board's recommendation will be provided in a solicitation/recommendation statement on Schedule 14D-9, which J. Alexander's will file with the Securities and Exchange Commission with respect to the tender offer.