Landry's Sends Letter To Ark Restaurants Questioning Rejection of $22.00/Share Bid

Landry's announced Thursday that it has sent a letter to the Board of Directors of Ark Restaurants Corp. ARKR ("Ark") that calls into question the Ark Board's outright rejection of Landry's proposal to acquire all of Ark's outstanding capital stock for $22.00 per share in cash in a negotiated transaction.  Landry's strongly believes that Ark shareholders would experience immediate and far greater benefit from the significant premium provided by Landry's proposal than the continued pursuit of Ark's floundering business strategy, which has produced a 4.6% decline in same store sales and $565,000 in operating losses related to a particular restaurant in Ark's first fiscal quarter of 2013.  Landry's further believes that the Ark Board, which includes four executive officers, is more concerned with self-preservation than maximizing value for shareholders, and called upon the Board to remove the obstacles to Landry's ability to take its proposal directly to shareholders.  A copy of the letter is set forth below. March 7, 2013 Via Facsimile and Email Board of DirectorsArk Restaurants Corp.85 Fifth Avenue New York, New York 10003 Dear Members of the Board: We are writing in response to the press release issued by Ark Restaurants Corp. ("Ark" or the See full press release