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<SEC-DOCUMENT>0000930413-08-000502.txt : 20080125
<SEC-HEADER>0000930413-08-000502.hdr.sgml : 20080125
<ACCEPTANCE-DATETIME>20080125160832
ACCESSION NUMBER:		0000930413-08-000502
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080325
FILED AS OF DATE:		20080125
DATE AS OF CHANGE:		20080125
EFFECTIVENESS DATE:		20080125

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARK RESTAURANTS CORP
		CENTRAL INDEX KEY:			0000779544
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		IRS NUMBER:				133156768
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09453
		FILM NUMBER:		08551085

	BUSINESS ADDRESS:	
		STREET 1:		85 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10003-3019
		BUSINESS PHONE:		2122068800

	MAIL ADDRESS:	
		STREET 1:		85 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10003-3019
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>c52091_def14a.htm
<TEXT>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=3>UNITED STATES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=3>SECURITIES AND EXCHANGE COMMISSION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>WASHINGTON, DC 20549</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=1>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=5>SCHEDULE 14A</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>(Rule</font></b><font size=2>&nbsp;</font><b><font size=2>14a-101)</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>INFORMATION REQUIRED IN PROXY STATEMENT</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=1>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>SCHEDULE 14A INFORMATION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=1>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Proxy Statement Pursuant to Section</font></b><font size=2>&nbsp;</font><b><font size=2>14(a) of the Securities</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Exchange Act of 1934</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="99%" style='margin-left:.4pt;border-collapse:collapse'>
  <tr >
    <td  colspan="3" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>
<font size=2>Filed
        by the Registrant <font face="Wingdings 2">&#83;</font></font></p></td>
    <td width="13%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="1%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="1%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="39%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td  colspan="3" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Filed
        by a Party other than the Registrant <font face="Wingdings 2">&#163;</font></font></p></td>
    <td width="13%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="1%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="1%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="39%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td width="1%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="1%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="39%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="13%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="1%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="1%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="39%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td  colspan="3" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Check
        the appropriate box:</font></p></td>
    <td width="13%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="1%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="1%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="39%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td width="1%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="1%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="39%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="13%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="1%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="1%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="39%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td width="1%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2><font face="Wingdings 2">&#163;</font></font></p></td>
    <td width="1%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="39%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Preliminary
        Proxy Statement</font></p></td>
    <td width="13%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="1%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2><font face="Wingdings 2">&#163;</font></font></p></td>
    <td width="1%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="39%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Confidential,
        for Use of the Commission Only</font></p></td>
  </tr>
  <tr >
    <td width="1%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2><font face="Wingdings 2">&#83;</font></font></p></td>
    <td width="1%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="39%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Definitive
        Proxy Statement</font></p></td>
    <td width="13%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="1%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="1%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="39%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(as
        permitted by Rule&nbsp;14a-6(e)(2))</font></p></td>
  </tr>
  <tr >
    <td width="1%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2><font face="Wingdings 2">&#163;</font></font></p></td>
    <td width="1%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="39%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Definitive
        Additional Materials</font></p></td>
    <td width="13%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="1%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="1%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="39%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td width="1%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2><font face="Wingdings 2">&#163;</font></font></p></td>
    <td width="1%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="39%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Soliciting
        Material Pursuant to &sect; 240.14a-12</font></p></td>
    <td width="13%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="1%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="1%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="39%" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
  </tr>
</table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=6>&nbsp;</font></b></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=5>Ark Restaurants Corp</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Name of Registrant as Specified in its Charter)</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><font size=2>(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</font></p>


<table width="100%" border="0" cellpadding=0 cellspacing=0 style='margin-left:.4pt;border-collapse:collapse'>
  <tr >
    <td width="4%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="1%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td  colspan="5" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td  colspan="7" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Payment
        of filing fee (Check the appropriate box):</font></p></td>
  </tr>
  <tr >
    <td valign=top >&nbsp;</td>
    <td valign=bottom >&nbsp;</td>
    <td  colspan="5" valign=top >&nbsp;</td>
  </tr>
  <tr >
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2><font face="Wingdings 2">&#83;</font></font></p></td>
    <td valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td  colspan="5" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>No
        fee required.</font></p></td>
  </tr>
  <tr >
    <td valign=top >&nbsp;</td>
    <td valign=bottom >&nbsp;</td>
    <td  colspan="5" valign=top >&nbsp;</td>
  </tr>
  <tr >
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2><font face="Wingdings 2">&#163;</font></font></p></td>
    <td valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td  colspan="5" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Fee
        computed on table below per Exchange Act Rules&nbsp;14a-6(i)(1) and 0-11.</font></p></td>
  </tr>
  <tr >
    <td  colspan="3" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="1%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="1%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td width="1%" valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td  colspan="3" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>(1</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>)</font></p></td>
    <td valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Title
        of each class of securities to which transactions applies:</font></p></td>
  </tr>
  <tr >
    <td  colspan="3" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td  colspan="3" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>(2</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>)</font></p></td>
    <td valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Aggregate
        number of securities to which transactions applies:</font></p></td>
  </tr>
  <tr >
    <td  colspan="3" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td  colspan="3" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>(3</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>)</font></p></td>
    <td valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Per
        unit price or other underlying value of transaction computed pursuant
        to Exchange Act Rule&nbsp;0-11(set forth the amount on which the filing
        fee is calculated and state how it was determined):</font></p></td>
  </tr>
  <tr >
    <td  colspan="3" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td  colspan="3" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>(4</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>)</font></p></td>
    <td valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Proposed
        maximum aggregate value of transaction:</font></p></td>
  </tr>
  <tr >
    <td  colspan="3" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td  colspan="3" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>(5</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>)</font></p></td>
    <td valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Total
        fee paid:</font></p></td>
  </tr>
  <tr >
    <td  colspan="3" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2><font face="Wingdings 2">&#163;</font></font></p></td>
    <td valign=top>&nbsp;</td>
    <td  colspan="5" valign=top><font size=2>Fee paid previously with preliminary
      materials.</font></td>
  </tr>
  <tr >
    <td  colspan="3" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2><font face="Wingdings 2">&#163;</font></font></p></td>
    <td valign=top>&nbsp;</td>
    <td  colspan="5" valign=top><font size=2>Check box if any part of the fee
      is offset as provided by Exchange Act Rule&nbsp;0-11(a)(2) and identify
      the filing for which the offsetting fee was paid previously. Identify the
      previous filing by registration statement number, or the Form or Schedule
      and the date of its filing.</font></td>
  </tr>
  <tr >
    <td  colspan="3" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top>&nbsp;</td>
    <td valign=top>&nbsp;</td>
    <td valign=top>&nbsp;</td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>(1</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>)</font></p></td>
    <td valign=top>&nbsp;</td>
    <td valign=top><font size=2>Amount previously paid:</font></td>
  </tr>
  <tr >
    <td  colspan="3" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top>&nbsp;</td>
    <td valign=top>&nbsp;</td>
    <td valign=top>&nbsp;</td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>(2</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>)</font></p></td>
    <td valign=top>&nbsp;</td>
    <td valign=top><font size=2>Form, schedule or registration statement no.:</font></td>
  </tr>
  <tr >
    <td  colspan="3" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top>&nbsp;</td>
    <td valign=top>&nbsp;</td>
    <td valign=top>&nbsp;</td>
    <td valign=top><font size=2>(3</font></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>)</font></p></td>
    <td valign=top>&nbsp;</td>
    <td valign=top><font size=2>Filing party:</font></td>
  </tr>
  <tr >
    <td  colspan="3" valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=bottom > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top>&nbsp;</td>
    <td valign=top>&nbsp;</td>
    <td valign=top>&nbsp;</td>
    <td valign=top><font size="2">(4</font></td>
    <td valign=top > <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>)</font></p></td>
    <td valign=top>&nbsp;</td>
    <td valign=top><font size=2>Date filed:</font></td>
  </tr>
  <tr>
    <td ></td>
    <td ></td>
    <td ></td>
    <td ></td>
    <td ></td>
    <td ></td>
    <td ></td>
  </tr>
</table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<hr color=#000000 noshade><page>
<P align="center">
<B><FONT size=2 face="serif"> ARK RESTAURANTS CORP. </FONT></B></P>
<P align="center">
<B><FONT size=2 face="serif">85 Fifth Avenue </FONT></B><BR>
<B><FONT size=2 face="serif">New York, New York 10003 </FONT></B><BR>
<B><FONT size=2 face="serif">______________ </FONT></B></P>
<P align="center">
<B><FONT size=2 face="serif">NOTICE OF ANNUAL MEETING OF SHAREHOLDERS </FONT></B></P>
<P align="center">
<B><FONT size=2 face="serif">To Be Held on March 25, 2008 </FONT></B></P>
<P align="left">
<FONT size=2 face="serif">To Shareholders of </FONT><BR>
<FONT size=2 face="serif">A</FONT><FONT size=1 face="serif">RK </FONT><FONT size=2 face="serif">R</FONT><FONT size=1 face="serif">ESTAURANTS </FONT><FONT size=2 face="serif">C</FONT><FONT size=1 face="serif">ORP</FONT><FONT size=2 face="serif">.
</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">N</FONT><FONT size=1 face="serif">OTICE IS </FONT><FONT size=2 face="serif">H</FONT><FONT size=1 face="serif">EREBY </FONT><FONT size=2 face="serif">G</FONT><FONT size=1 face="serif">IVEN
</FONT><FONT size=2 face="serif">that the Annual Meeting of Shareholders of Ark Restaurants Corp. (the &#147;Company&#148;) will be held on March 25, 2008 at 10:00 A.M., New York City time, at Bryant Park Grill, located at 25 West 40th Street, New
York, New York, for the following purposes: </FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
  <TD width="3%" valign=top nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
  <TD width="4%" valign=top nowrap>
<FONT size=2 face="serif">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
  <TD width=93%>
<P align="left"><FONT size=2 face="serif">To elect a board of nine directors;</FONT></P>  </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
  <TD nowrap valign=top>&nbsp;</TD>
  <TD nowrap valign=top>
<FONT size=2 face="serif">(2)</FONT></TD>
  <TD>
<P align="left"><FONT size=2 face="serif">To ratify the appointment of J.H. Cohn LLP (&#147;Cohn&#148;) as independent auditors for the 2008 fiscal year; and</FONT></P>  </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
  <TD nowrap valign=top>&nbsp;</TD>
  <TD nowrap valign=top>
<FONT size=2 face="serif">(3)</FONT></TD>
  <TD>
<P align="left"><FONT size=2 face="serif">To transact such other business as may properly come before the meeting or any adjournments thereof.</FONT></P>  </TD>
</TR>
</TABLE>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The Board of Directors has fixed the close of business on February 6, 2008 as the record date for the determination of shareholders entitled to notice of, and to vote at, the meeting. All
shareholders are cordially invited to attend. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT size=2 face="serif">YOU ARE REQUESTED, WHETHER OR NOT YOU PLAN TO BE PRESENT AT THE MEETING, TO DATE, SIGN AND RETURN PROMPTLY THE ACCOMPANYING PROXY IN THE ENCLOSED ENVELOPE TO WHICH NO POSTAGE NEED BE AFFIXED
IF MAILED IN THE UNITED STATES. IF YOU ATTEND THE MEETING IN PERSON, YOU MAY WITHDRAW THE PROXY AND VOTE YOUR OWN SHARES. </FONT></B></P>
<div style="margin-left:60%">
  <p align="left"><font size=2 face="serif">By Order of the Board of Directors, </font></p>
  <p align="left"> <font size=2 face="serif">Michael P. Buck </font><br>
      <i><font size=2 face="serif">Secretary and General Counsel </font></i></p>
</div>
<P align="left"><FONT size=2 face="serif">New York, New York </FONT><BR>
<FONT size=2 face="serif">February 11, 2008 </FONT></P>
<HR noshade width="100%" size=4>



<P STYLE="page-break-before:always"></P><PAGE>


<P align="center">
<B><FONT size=2 face="serif">TABLE OF CONTENTS </FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">ANNUAL MEETING INFORMATION</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
    <div align="right"><FONT size=2 face="serif">1</FONT> </div></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">CORPORATE GOVERNANCE; DIRECTOR AND COMMITTEE INFORMATION</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
    <div align="right"><FONT size=2 face="serif">3</FONT> </div></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">PROPOSAL 1 &#151; ELECTION OF DIRECTORS</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
    <div align="right"><FONT size=2 face="serif">5</FONT> </div></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">EXECUTIVE OFFICER</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
    <div align="right"><FONT size=2 face="serif">7</FONT> </div></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">PROPOSAL 2: RATIFICATION OF APPOINTMENT OF INDEPENDENT AUDITOR</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
    <div align="right"><FONT size=2 face="serif">7</FONT> </div></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">AUDIT COMMITTEE REPORT</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
    <div align="right"><FONT size=2 face="serif">7</FONT> </div></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">AUDIT FEES AND SERVICES</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
    <div align="right"><FONT size=2 face="serif">8</FONT> </div></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif"> COMPENSATION DISCUSSION AND ANALYSIS</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
    <div align="right"><FONT size=2 face="serif">9</FONT> </div></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">COMPENSATION COMMITTEE REPORT</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
    <div align="right"><FONT size=2 face="serif">11</FONT> </div></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">EXECUTIVE COMPENSATION</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
    <div align="right"><FONT size=2 face="serif">12</FONT> </div></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">SUMMARY COMPENSATION TABLE</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
    <div align="right"><FONT size=2 face="serif">12</FONT> </div></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">GRANTS OF PLAN-BASED AWARDS TABLE</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
    <div align="right"><FONT size=2 face="serif">13</FONT> </div></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END TABLE</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
    <div align="right"><FONT size=2 face="serif">13</FONT> </div></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">OPTION EXERCISES AND STOCK VESTED TABLE</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
    <div align="right"><FONT size=2 face="serif">14</FONT> </div></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">DIRECTOR COMPENSATION</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
    <div align="right"><FONT size=2 face="serif">14</FONT> </div></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
    <div align="right"><FONT size=2 face="serif">15</FONT> </div></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">STOCK OWNERSHIP INFORMATION</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
    <div align="right"><FONT size=2 face="serif">15</FONT> </div></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
    <div align="right"><FONT size=2 face="serif">17</FONT> </div></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
    <div align="right"><FONT size=2 face="serif">18</FONT> </div></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">ADDITIONAL INFORMATION</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
    <div align="right"><FONT size=2 face="serif">18</FONT> </div></TD>
</TR>
</TABLE>
<p>&nbsp;</p>
<p><BR>

</p>
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<P align="center">
<B><FONT size=2 face="serif">ARK RESTAURANTS CORP. </FONT></B><BR>
<B><FONT size=2 face="serif">___________________ </FONT></B><BR>
<BR>
<B><FONT size=2 face="serif">PROXY STATEMENT </FONT></B><BR>
<B><FONT size=2 face="serif">___________________ </FONT></B><BR>
<BR>
<B><FONT size=2 face="serif">ANNUAL MEETING INFORMATION</FONT></B></P>
<P align="left">
<FONT size=2 face="serif">This proxy statement contains information related to the annual meeting of shareholders of Ark Restaurants Corp. (&#147;Ark&#148; or the &#147;Company&#148;) to be held at Bryant Park Grill, located at 25 West 40th Street,
New York, New York, at 10:00 A.M., New York City time, on March 25, 2008 and at any adjournment or adjournments thereof (the &#147;Meeting&#148;). This proxy statement was prepared under the direction of our Board of Directors (the &#147;Board of
Directors&#148; or the &#147;Board&#148;) to solicit your proxy for use at the annual meeting. It will be mailed to shareholders on or about February 11, 2008.</FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">Who may attend the annual meeting?</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">All shareholders of record at the close of business on February 6, 2008 (the &#147;Record Date&#148;), or their duly appointed proxies, and our invited guests may attend the Meeting. </FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">Who may vote?</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">You may vote if you owned our common stock as of the close of business on the Record Date. Each share of our common stock is entitled to one vote. As of the Record Date, there were 3,596,799</FONT><B><FONT size=2 face="serif"> </FONT></B><FONT size=2 face="serif">shares of common stock outstanding and entitled to vote at the Meeting.</FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">What will I be voting on?</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">You will be voting on the following: </FONT></P>
<UL STYLE="margin-left:60px">
<LI>
<P align="left"><FONT size=2 face="serif">The election of nine (9) directors for a term to expire at the next annual meeting of shareholders; and</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">The ratification of the selection of J.H. Cohn LLP (&#147;Cohn&#148;) as our independent registered public accounting firm for fiscal 2008.</FONT></P></LI>
</UL>
<P align="left">
<B><I><FONT size=2 face="serif">What are the voting recommendations of the Board of Directors?</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">The Board of Directors recommends that you vote your shares &#147;FOR&#148; each of the nominees named in this proxy statement for election to the Board and &#147;FOR&#148; ratification of the selection of Cohn as our
independent registered public accounting firm for fiscal 2008.</FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">How do I vote? </FONT></I></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Return Your Proxy Card By Mail</FONT></I></B><B><FONT size=2 face="serif">: </FONT></B><FONT size=2 face="serif">You may vote by completing, signing and returning the enclosed proxy card
in the postage-paid envelope provided with this proxy statement. The proxy holders will vote your shares according to your directions. If you sign and return your proxy card without specifying choices, your shares will be voted by the persons named
in the proxy in accordance with the recommendations of the Board of Directors as set forth in this proxy statement.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Vote at the Meeting</FONT></I></B><B><FONT size=2 face="serif">: </FONT></B><FONT size=2 face="serif">You may cast your vote in person at the Meeting. Written ballots will be passed
out to anyone who wants to vote in person at the meeting.</FONT></P>
<P align="left">
<FONT size=2 face="serif">Even if you plan to attend the meeting, you are encouraged to vote your shares by proxy. You may still vote your shares in person at the Meeting even if you have previously voted by proxy. If you are present at the Meeting
and desire to vote in person, your vote by proxy will not be used. </FONT></P>

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<P STYLE="page-break-before:always"></P><PAGE>


<P align="left">
<B><I><FONT size=2 face="serif">What if I hold my shares in &#147;street name&#148;?</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">You should follow the voting directions provided by your broker or nominee. You may complete and mail a voting instruction card to your broker or nominee or, in most cases, submit voting instructions by telephone or the
Internet to your broker or nominee. If you provide specific voting instructions by mail, telephone or the Internet, your broker or nominee will vote your shares as you have directed.</FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">Can I change my mind after I vote?</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">Yes. If you are a shareholder of record, you may change your vote or revoke your proxy at any time before it is voted at the Meeting by:</FONT></P>
<UL STYLE="margin-left:60px">
<LI>
<P align="left"><FONT size=2 face="serif">signing another proxy card with a later date and returning it to us prior to the Meeting;</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">giving written notice of revocation to Ark Restaurants Corp., Attention Treasurer, 85 Fifth Avenue, New York, NY 10003; or</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">attending the Meeting and voting in person.</FONT></P></LI>
</UL>
<P align="left">
<FONT size=2 face="serif">If you hold your shares in street name, you may submit new voting instructions by contacting your broker, bank or other nominee. You may also vote in person at the Meeting if you obtain a legal proxy from your broker, bank
or other nominee.</FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">Who will count the votes?</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">A representative of our Transfer Agent will count the votes and will serve as the independent inspector of elections.</FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">Will my shares be voted if I do not provide my proxy?</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">If you are the shareholder of record and you do not vote or provide a proxy, your shares will not be voted.</FONT></P>
<P align="left">
<FONT size=2 face="serif">Your shares may be voted if they are held in street name, even if you do not provide the brokerage firm with voting instructions. Brokerage firms have the authority under the rules of the Financial Industry Regulatory
Authority, Inc. (&#147;FINRA&#148;) to vote shares for which their customers do not provide voting instructions on certain &#147;routine&#148; matters.</FONT></P>
<P align="left">
<FONT size=2 face="serif">The election of directors and the proposal to ratify the selection of Cohn as our independent registered public accounting firm for fiscal 2008 are considered &#147;routine&#148; matters for which brokerage firms may vote
unvoted shares. There are currently no other proposals to be voted on at the Meeting.</FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">How many votes must be present to hold the meeting?</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">A majority of the outstanding shares entitled to vote at the Meeting, represented in person or by proxy, will constitute a quorum. Shares of common stock represented in person or by proxy, including shares which abstain or
do not vote with respect to one or more of the matters presented for shareholder approval, will be counted for purposes of determining whether a quorum is present.</FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">What vote is required to approve each proposal?</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">In accordance with our bylaws, the nominees for director receiving the highest number of votes cast in person or by proxy at the Meeting (also referred to as a plurality of the votes cast) will be elected. If you mark your
proxy to withhold your vote for a particular nominee on your proxy card, your vote will not count either &#147;for&#148; or &#147;against&#148; the nominee. The ratification of the selection of Cohn as our independent registered public accounting
firm for fiscal 2008 requires the affirmative vote of a majority of the votes cast at the Meeting in order to be approved. </FONT></P>
<P align="left">
<FONT size=2 face="serif">Shares that abstain from voting as to a particular matter will not be counted as votes in favor of such matter, and also will not be counted as votes cast or shares voting on such matter. Accordingly, abstentions will not
be included in vote totals and will not affect the outcome of the voting for either proposal.</FONT></P>
<P align="center">
<FONT size=2 face="serif">2</FONT></P>

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<P align="left">
<B><I><FONT size=2 face="serif">Who will pay for this proxy solicitation?</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">We will bear the cost of preparing, assembling and mailing the proxy material and of reimbursing brokers, nominees, fiduciaries and other custodians for out-of-pocket and clerical expenses of transmitting copies of the
proxy material to the beneficial owners of our shares. A few of our officers and employees may participate in the solicitation of proxies without additional compensation.</FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">Will any other matters be voted on at the Meeting?</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">As of the date of this proxy statement, our management knows of no other matter that will be presented for consideration at the Meeting other than those matters discussed in this proxy statement. If any other matters
properly come before the Meeting and call for a vote of shareholders, validly executed proxies in the enclosed form returned to us will be voted in accordance with the recommendation of the Board of Directors, or, in the absence of such a
recommendation, in accordance with the judgment of the proxy holders.</FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">What are the deadlines for stockholder proposals for next year&#146;s Meeting? </FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">Stockholders may submit proposals on matters appropriate for stockholder action at future annual meetings by following the rules of the Securities and Exchange Commission. Proposals intended for inclusion in next
year&#146;s proxy statement and proxy card must be received by not later than September 27, 2008. All proposals and notifications should be addressed to Ark Restaurants Corp., Attention Treasurer, 85 Fifth Avenue, New York, NY 10003. </FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">Where can I find the voting results?</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">The preliminary voting results will be announced at the Meeting. The final results will be published in our quarterly report on Form 10-Q for the second quarter of fiscal 2008.</FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">What is the Company&#146;s website address?</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">Our website address is </FONT><I><U><FONT size=2 face="serif">www.arkrestaurants.com.</FONT></U></I><I><FONT size=2 face="serif"> </FONT></I><FONT size=2 face="serif">We make this proxy statement, our annual report on Form
10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;) available on
our website in the About Ark - SEC Filings section, as soon as reasonably practicable after electronically filing such material with the United States Securities and Exchange Commission (&#147;SEC&#148;).</FONT></P>
<P align="left">
<FONT size=2 face="serif">This information is also available free of charge at the SEC&#146;s website located at </FONT><I><U><FONT size=2 face="serif">www.sec.gov.</FONT></U></I><I><FONT size=2 face="serif"> </FONT></I><FONT size=2 face="serif">Shareholders may also read and copy any reports, statements and other information filed by us with the SEC at the SEC public reference room at 100 F Street, N.E., Room 1580, Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330
or visit the SEC&#146;s website for further information on its public reference room.</FONT></P>
<P align="left">
<FONT size=2 face="serif">The references to our website address and the SEC&#146;s website address do not constitute incorporation by reference of the information contained in these websites and should not be considered part of this
document.</FONT></P>
<P align="center">
<B><FONT size=2 face="serif">CORPORATE GOVERNANCE; DIRECTOR AND COMMITTEE INFORMATION</FONT></B></P>
<P align="left">
<B><I><FONT size=2 face="serif">Corporate Governance</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">We seek to follow best practices in corporate governance in a manner that is in the best interests of our business and stockholders. Our current corporate governance principles, including the Code Ethics and the charters of
each of the Audit Committee and Nominating and Governance Committee are all available under About Ark -- Corporate Governance on our website at </FONT><U><FONT size=2 face="serif">www.arkrestaurants.com</FONT></U><FONT size=2 face="serif">. We are
in compliance with the corporate governance requirements imposed by the Sarbanes-Oxley Act, the Securities and Exchange Commission and the NASDAQ Marketplace Rules. We will continue to modify our policies and practices to meet ongoing developments
in this area. Aspects of our corporate governance principles are discussed throughout this Proxy Statement.</FONT><FONT face="serif"> </FONT></P>
<P align="center">
<FONT size=2 face="serif">3</FONT></P>

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<P STYLE="page-break-before:always"></P><PAGE>


<P align="left">
<B><I><FONT size=2 face="serif">Director Independence</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">The Board has determined that each of the following directors is an &#147;independent director&#148; as such term is defined in NASDAQ Marketplace Rule 4200(a)(15): Bruce Lewin, Marcia Allen, Steven Shulman, Arthur Stainman
and Stephen Novick. </FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">Board and Committee Meeting Attendance</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">During the past year, the Board held six meetings. Each member of the Board attended at least 75% of the meetings of the Board and committees on which he or she served. Independent directors meet at least twice per year
without management present.</FONT><B><I><FONT size=2 face="serif"> </FONT></I></B></P>
<P align="left">
<B><I><FONT size=2 face="serif">Board Committees</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">The Board has delegated various responsibilities and authority to different Board committees. The Board has three standing committees: the Compensation Committee, the Audit Committee and the Nominating and Corporate
Governance Committee. The Board has appointed only independent directors to such committees. The members of each committee are appointed by the Board and serve one year terms. Committees regularly report on their activities and actions to the full
Board of Directors. Each committee has a written charter adopted by the Board of Directors under which it operates.</FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">Compensation Committee</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">Ms. Allen (Chairperson) and Messrs. Shulman and Stainman currently serve as members of the Compensation Committee of the Board. The Compensation Committee: (i) oversees and sets the compensation and benefits arrangements of
our Chief Executive Officer and certain other executives; (ii) provides a general review of, and makes recommendations to, the Board of Directors or to our shareholders with respect to our equity-based compensation plans; and (iii) implements,
administers, operates and interprets all equity-based and similar compensation plans to the extent provided under the terms of such plans..</FONT></P>
<P align="left">
<FONT size=2 face="serif">The Board of Directors adopted a written charter under which the Compensation Committee operates. The Compensation Committee held three meetings in 2007. </FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">Audit Committee</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">Messrs. Lewin (Chairperson) and Stainman and Ms. Allen currently serve as members of the Audit Committee of the Board of Directors. The Audit Committee is responsible for, among other things, and engaging the independent
auditors, receiving and reviewing the recommendations of the independent auditors, reviewing consolidated financial statements of the Company, meeting periodically with the independent auditors and Company personnel with respect to the adequacy of
internal accounting controls, resolving potential conflicts of interest and reviewing Company&#146;s accounting policies.</FONT></P>
<P align="left">
<FONT size=2 face="serif">The Board of Directors has determined that all of the members of the Audit Committee meet the independence criteria for audit committees and have the qualifications set forth in the listing standards of NASDAQ and Rule
10A-3 under the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;). The Board of Directors has also designated Ms. Allen as an audit committee financial expert within the meaning of Item 401(h) of Regulation S-K under the
Exchange Act and the Board of Directors has determined that she has the financial sophistication required under the listing standards of NASDAQ.</FONT></P>
<P align="left">
<FONT size=2 face="serif">The Board of Directors adopted a written charter under which the Audit Committee operates. The Board of Directors reviews and assesses the adequacy of the charter of the Audit Committee on an annual basis.</FONT></P>
<P align="left">
<FONT size=2 face="serif">The Audit Committee held five meetings during 2007.</FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">Nominating and Corporate Governance Committee</FONT></I></B><FONT size=2 face="serif"> </FONT></P>
<P align="left">
<FONT size=2 face="serif">Messrs. Novick (Chairperson), Stainman and Lewin currently serve as members of the Nominating and Corporate Governance Committee of the Board. The Board of Directors adopted a written charter under which the Nominating and
Corporate Governance Committee operates. The Nominating and Corporate Governance Committee approved</FONT></P>
<P align="center">
<FONT size=2 face="serif">4</FONT></P>

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<P STYLE="page-break-before:always"></P><PAGE>


<P align="left">
<FONT size=2 face="serif">the nomination of the candidates reflected in Proposal One, which candidates were approved by the Board of Directors.</FONT></P>
<P align="left">
<FONT size=2 face="serif">The duties of the Nominating and Corporate Governance Committee are to recommend to the Board nominees to the Board of Directors and its standing committees. Although the Nominating and Corporate Governance Committee has
not established minimum qualifications for director candidates, it will consider, among other factors:</FONT></P>
<UL STYLE="margin-left:60px">
<LI>
<P align="left"><FONT size=2 face="serif">Judgment</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Skill</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Diversity</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Experience with businesses and other organizations of comparable size</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">The interplay of the candidate&#146;s experience with the experience of other Board members</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">The extent to which the candidate would be a desirable addition to the Board and any committees of the Board</FONT></P></LI>
</UL>
<P align="left">
<FONT size=2 face="serif">The Nominating and Corporate Governance Committee will consider all director candidates recommended by stockholders. Any stockholder who desires to recommend a director candidate may do so in writing, giving each
recommended candidate&#146;s name, biographical data and qualifications, by mail addressed to the Chairman of the Nominating and Corporate Governance Committee, in care of Ark Restaurants Corp., 85 Fifth Avenue, New York, New York 10003. Members of
the Nominating and Corporate Governance Committee will assess potential candidates on a regular basis. </FONT></P>
<P align="left">
<FONT size=2 face="serif">The Nominating and Corporate Governance Committee held one meeting in 2007. </FONT></P>
<P align="center">
<B><FONT size=2 face="serif">PROPOSAL 1: ELECTION OF DIRECTORS</FONT></B></P>
<P align="left">
<FONT size=2 face="serif">Our Amended and Restated Certificate of Incorporation provides that the number of directors constituting the Board of Directors shall not be fewer than three nor more than 15, with the exact number to be fixed by a
resolution adopted by the affirmative vote of a majority of the Board. The Board of Directors has fixed the number of directors at nine. The term of office of each director is one year, commencing at this annual meeting and ending at the annual
meeting of shareholders to be held in 2008. Each director elected will continue in office until he resigns or until a successor has been elected and qualified. Stockholders cannot vote or submit proxies for a greater number of persons than the nine
nominees named in this Proposal One.</FONT></P>
<P align="left">
<FONT size=2 face="serif">Each of the nominees named below is at present a director of the Company and has consented to serve if elected. If any nominee should be unable to serve or will not serve for any reason, the persons designated on the
accompanying form of proxy will vote in accordance with their judgment. We know of no reason why the nominees would not be able to serve if elected.</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width="20%" align=left nowrap> <div align="center"><B><U><FONT size=1 face="serif">Name</FONT></U></B> </div></TD>
  <TD width="10%" align=center nowrap>
<B><U><FONT size=1 face="serif">Age</FONT></U></B>  </TD>
  <TD width="60%" align=center nowrap>
<B><FONT size=1 face="serif">Principal Occupation and Position with the</FONT></B>  </TD>
  <TD width="10%" align=center nowrap>
<B><FONT size=1 face="serif">Director</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" colspan="2" align=left nowrap><p><font size=1>&nbsp;</font></p>      </TD>
  <TD width="60%" align=center nowrap>
<B><U><FONT size=1 face="serif">Company</FONT></U></B>  </TD>
  <TD width="10%" align=center nowrap>
<B><U><FONT size=1 face="serif">Since</FONT></U></B>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width="20%" align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Michael Weinstein</FONT>  </TD>
  <TD width="10%" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">64</FONT>  </TD>
  <TD width="60%" align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Chairman of the Board and Chief Executive Officer of</FONT>  </TD>
  <TD width="10%" align=center nowrap>
<FONT size=2 face="serif">1983</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width="20%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="60%" align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">the Company</FONT>  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>
<FONT size=2 face="serif">Robert Towers</FONT>  </TD>
  <TD width="10%" align=center nowrap>
<FONT size=2 face="serif">60</FONT>  </TD>
  <TD width="60%" align=left nowrap>
<FONT size=2 face="serif">President, Chief Operating Officer and Treasurer of the</FONT>  </TD>
  <TD width="10%" align=center nowrap>
<FONT size=2 face="serif">1987</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="60%" align=left nowrap>
<FONT size=2 face="serif">Company</FONT>  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width="20%" align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Vincent Pascal</FONT>  </TD>
  <TD width="10%" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">64</FONT>  </TD>
  <TD width="60%" align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Senior Vice President of the Company</FONT>  </TD>
  <TD width="10%" align=center nowrap>
<FONT size=2 face="serif">1985</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>
<FONT size=2 face="serif">Paul Gordon</FONT>  </TD>
  <TD width="10%" align=center nowrap>
<FONT size=2 face="serif">56</FONT>  </TD>
  <TD width="60%" align=left nowrap>
<FONT size=2 face="serif">Senior Vice President of the Company</FONT>  </TD>
  <TD width="10%" align=center nowrap>
<FONT size=2 face="serif">1996</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width="20%" align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Marcia Allen</FONT>  </TD>
  <TD width="10%" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">57</FONT>  </TD>
  <TD width="60%" align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Chief Executive Officer, Allen &amp; Associates</FONT>  </TD>
  <TD width="10%" align=center nowrap>
<FONT size=2 face="serif">2003</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="serif">5</FONT></P>

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<P STYLE="page-break-before:always"></P><PAGE>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<FONT size=2 face="serif">Bruce R. Lewin</FONT>  </TD>
  <TD width=10% align=right nowrap>
    <div align="center"><FONT size=2 face="serif">60</FONT> </div></TD>
  <TD width=60% align=left nowrap>
<FONT size=2 face="serif">President and Director, Continental Hosts, Ltd.</FONT>  </TD>
  <TD width=10% align=right nowrap>
    <div align="center"><FONT size=2 face="serif">2000</FONT> </div></TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width=20% align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Steven Shulman</FONT>  </TD>
  <TD width=10% align=right nowrap bgcolor="#E5FFFF">
    <div align="center"><FONT size=2 face="serif">66</FONT> </div></TD>
  <TD width=60% align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Managing Director, Hampton Group Inc.</FONT>  </TD>
  <TD width=10% align=right nowrap>
    <div align="center"><FONT size=2 face="serif">2003</FONT> </div></TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<FONT size=2 face="serif">Arthur Stainman</FONT>  </TD>
  <TD width=10% align=right nowrap>
    <div align="center"><FONT size=2 face="serif">65</FONT> </div></TD>
  <TD width=60% align=left nowrap>
<FONT size=2 face="serif">Senior Managing Director, First Manhattan Co.</FONT>  </TD>
  <TD width=10% align=right nowrap>
    <div align="center"><FONT size=2 face="serif">2004</FONT> </div></TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width=20% align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Stephen Novick</FONT>  </TD>
  <TD width=10% align=right nowrap bgcolor="#E5FFFF">
    <div align="center"><FONT size=2 face="serif">67</FONT> </div></TD>
  <TD width=60% align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Senior Advisor, Andrea and Charles Bronfman</FONT>  </TD>
  <TD width=10% align=right nowrap bgcolor="#E5FFFF">
    <div align="center"><FONT size=2 face="serif">2005</FONT> </div></TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width=10% align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width=60% align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Philanthropies</FONT>  </TD>
  <TD width=10% align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
</TR>
</TABLE>
<BR>
<div style="border-bottom:1px solid #000000; width:100px">&nbsp;</div>
<P align="left"><B><FONT size=2 face="serif">Biographical Information</FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Michael Weinstein</FONT></I></B><FONT size=2 face="serif"> has been our Chief Executive Officer and a director since our inception in January 1983, was elected Chairman in 2004 and was
President of the Company from January 1983 to September 2007. Mr. Weinstein is also the President of each of our subsidiaries. During the past five years, Mr. Weinstein has been an officer, director and 25% shareholder of Easy Diners, Inc., a
restaurant management company which operated a restaurant in New York City until January 31, 2002. Mr. Weinstein is also a director and 25% shareholder of RSWB Corp. and BSWR Corp. (since April 1998) each of which operates a restaurant in New York
City. Mr. Weinstein is also the owner of 24% of the membership interests of each of Dockeast, LLC and Dockwest, LLC, each of which operates a restaurant in New York City. Easy Diners, Inc., RSWB Corp., Dockeast, LLC, Dockwest, LLC and BSWR Corp. are
not subsidiaries or affiliates of the Company. Mr. Weinstein spends substantially all of his business time on Company-related matters. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Robert Towers</FONT></I></B><FONT size=2 face="serif"> has been employed by us since November 1983 and was elected Vice President, Treasurer and a director in March 1987. Mr. Towers
became an Executive Vice President and Chief Operating Officer in April 2001 and was promoted to President in September 2007. Mr. Towers is also the Executive Vice President, Treasurer and Secretary of each of our subsidiaries. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Vincent Pascal</FONT></I></B><FONT size=2 face="serif"> has been employed by us since 1983 and was elected Vice President, Assistant Secretary and a director in 1985. Mr. Pascal became a
Senior Vice President in 2001.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Paul Gordon</FONT></I></B><FONT size=2 face="serif"> has been employed by us since 1983 and was elected as a director in November 1996 and a Senior Vice President in April 2001. Mr.
Gordon is the manager of the our Las Vegas operations, and is a Senior Vice President of each of the Company&#146;s Las Vegas, Nevada subsidiaries. Prior to assuming that role in 1996, Mr. Gordon was the manager of the Company&#146;s operations in
Washington, D.C. commencing in 1989.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Marcia Allen</FONT></I></B><FONT size=2 face="serif"> was elected a director of the Company in 2003. For the past five years, Ms. Allen has been the Chief Executive Officer of Allen &amp;
Associates Inc., a business and acquisition consulting firm. Also, from December 2001 to August 2002 Ms. Allen served as President and a member of the board of directors of Accesspoint Inc. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Bruce R. Lewin</FONT></I></B><FONT size=2 face="serif"> was elected a director of the Company in February 2000. Mr. Lewin has been the President and a director of Continental Hosts, Ltd
since August 2001. He is also a founder and director of Fuze Beverage, LLC. Mr. Lewin was formerly a director of the Bank of Great Neck (in New York), and a former director of the New York City Chapter of the New York State Restaurant Association.
He has been owner and President of Bruce R. Lewin Fine Art since 1985. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Steven Shulman</FONT></I></B><FONT size=2 face="serif"> was elected a director of the Company in December 2003. During the past five years, Mr. Shulman has been the managing director of
Hampton Group, a company engaged in the business of making private investments. Mr. Shulman also serves as a director of various private companies.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Arthur Stainman</FONT></I></B><FONT size=2 face="serif"> was elected director of the Company in 2004. Mr. Stainman is a senior managing director of First Manhattan Co. of New York City, a
money management firm, and has over twenty years experience managing money for high net worth individuals. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Stephen Novick </FONT></I></B><FONT size=2 face="serif">was elected director of the Company in 2005. Mr. Novick serves as Senior Advisor for the Andrea and Charles Bronfman
Philanthropies, a private family foundation. From 1990 to 2004, Mr. Novick served as Chief Creative Officer of Grey Global Group, an advertising agency. Mr. Novick continues to serve as a consultant for Grey Global Group. He also serves as a member
of the Board of Directors of Toll Brothers, Inc. </FONT></P>
<P align="center">
<FONT size=2 face="serif">6</FONT></P>

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<P STYLE="page-break-before:always"></P><PAGE>


<P align="center">
<B><FONT size=2 face="serif">THE BOARD OF DIRECTORS RECOMMENDS A VOTE &#147;FOR&#148; THE ELECTION OF EACH NAMED</FONT></B><BR>
<B><FONT size=2 face="serif">NOMINEE. </FONT></B></P>
<P align="center">
<B><FONT size=2 face="serif">EXECUTIVE OFFICER</FONT></B></P>
<P align="left">
<FONT size=2 face="serif">The executive officer is the officer who is not a member of our Board but who is an executive officer of the Company pursuant to Section 16 of the Exchange Act. </FONT></P>
<P align="left">
<FONT size=2 face="serif">Robert Stewart, age 51, has been employed by us since June 2002 and was elected Chief Financial Officer effective as of June 24, 2002. For the three years prior to joining us, Mr. Stewart was a Chief Financial Officer and
Executive Vice President at Fortis Capital Holdings. For eleven years prior to joining Fortis Capital Holdings, Mr. Stewart held senior financial and audit positions in Skandinaviska Enskilda Banken in their New York, London and Stockholm offices.
</FONT></P>
<P align="center">
<B><FONT size=2 face="serif">PROPOSAL 2: RATIFICATION OF APPOINTMENT OF INDEPENDENT AUDITORS</FONT></B></P>
<P align="left">
<FONT size=2 face="serif">The Audit Committee has recommended, and the Board of Directors has approved, the appointment of Cohn, an independent registered public accounting firm, to audit our financial statements for the 2008 fiscal year. A
representative of Cohn is expected to attend the Meeting and will have an opportunity to make a statement if he or she so desires. He or she will also be available to respond to appropriate questions from our shareholders. For additional information
regarding our relationship with Cohn, please see the &#147;Audit Committee Report&#148; below. Although it is not required to submit this proposal to the shareholders for approval, the Board believes it is desirable that an expression of shareholder
opinion be solicited and presents the selection of the independent registered public accounting firm to the shareholders for ratification. Even if the selection of Cohn is ratified by the shareholders, the Audit Committee in its discretion could
decide to terminate the engagement of Cohn and engage another firm if the committee determines that this is necessary or desirable.</FONT></P>
<P align="center">
<B><FONT size=2 face="serif">THE BOARD RECOMMENDS THAT YOU VOTE FOR RATIFICATION OF THE APPOINTMENT OF </FONT></B><BR>
<B><FONT size=2 face="serif">J.H. COHN LLP AS INDEPENDENT AUDITORS FOR THE COMPANY. </FONT></B></P>
<P align="center">
<B><FONT size=2 face="serif">AUDIT COMMITTEE REPORT</FONT></B></P>
<P align="left">
<FONT size=2 face="serif">The following report is not deemed to be &#147;soliciting material&#148; or to be &#147;filed` with the SEC or subject to the SEC&#146;s proxy rules or to the liabilities of Section 18 of the 1934 Act and the report shall
not be deemed to be incorporated by reference into any prior or subsequent filing by the Company under the Securities Act of 1933 or the 1934 Act. The Audit Committee evidenced its completion of and compliance with the duties and responsibilities
set forth in the adopted Audit Committee Charter through a formal written report dated and executed as of December 31, 2007. A copy of that report is set forth below. </FONT></P>
<P align="left">
<FONT size=2 face="serif">December 31, 2007 </FONT></P>
<P align="left">
<FONT size=2 face="serif">The Board of Directors </FONT><BR>
<FONT size=2 face="serif">Ark Restaurants Corp. </FONT></P>
<P align="left">
<FONT size=2 face="serif">Fellow Directors: </FONT></P>
<P align="left">
<FONT size=2 face="serif">The primary purpose of the Audit Committee is to assist the Board of Directors in its general oversight of the Corporation&#146;s financial reporting process. The Audit Committee conducted its oversight activities for Ark
Restaurants Corp. and subsidiaries (&#147;Ark&#148;) in accordance with the duties and responsibilities outlined in the audit committee charter. The Audit Committee annually reviews the NASDAQ standard of independence for audit committees and its
most recent review determined that the committee meets that standard. </FONT></P>
<P align="left">
<FONT size=2 face="serif">Ark management is responsible for the preparation, consistency, integrity and fair presentation of the financial statements, accounting and financial reporting principles, systems of internal control, and procedures
designed to ensure compliance with accounting standards, applicable laws, and regulations. The Corporation&#146;s independent auditors, J.H. Cohn LLP, are responsible for performing an independent audit of the financial statements and expressing an
opinion on the conformity of those financial statements with accounting principles generally accepted in the Unites States of America. </FONT></P>
<P align="center">
<FONT size=2 face="serif">7</FONT></P>

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<P STYLE="page-break-before:always"></P><PAGE>


<P align="left">
<FONT size=2 face="serif">The Audit Committee, with the assistance and support of the Chief Financial Officer of Ark, has fulfilled its objectives, duties and responsibilities as stipulated in the audit committee charter and has provided adequate
and appropriate independent oversight and monitoring of Ark&#146;s systems of internal control for the fiscal year ended September 29, 2007. </FONT></P>
<P align="left">
<FONT size=2 face="serif">These activities included, but were not limited to, the following significant accomplishments during the fiscal year ended September 29, 2007: </FONT></P>
<UL STYLE="margin-left:20px">
<LI>
<P align="left"><FONT size=2 face="serif">Reviewed and discussed the audited financial statements with management and the external auditors.</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Received written disclosures and letter from the external auditors required by Independence Standards Board Standard No. 1, and discussed with the auditors their
independence.</FONT></P></LI>
</UL>
<P align="left">
<FONT size=2 face="serif">In reliance on the Committee&#146;s review and discussions of the matters referred to above, the Audit Committee recommends the audited financial statements be included in Ark&#146;s Annual Report on Form 10-K for the
fiscal year ended September 29, 2007, for filing with the Securities and Exchange Commission. </FONT></P>
<P align="left">
<FONT size=2 face="serif">Respectfully submitted, </FONT></P>
<P align="left">
<FONT size=2 face="serif">Ark Restaurants Corp. Audit Committee </FONT></P>
<P align="left">
<FONT size=2 face="serif">Bruce Lewin, Arthur Stainman and Marcia Allen</FONT></P>
<P align="center">
<B><FONT size=2 face="serif">AUDIT FEES AND SERVICES </FONT></B></P>
<P align="left">
<FONT size=2 face="serif">During fiscal 2006 and 2007, Cohn served as our independent auditors. The following table presents fees for professional audit services rendered by Cohn for the audit of our annual financial statements for the years ended
September 30, 2006 and September 29, 2007, and fees for other services rendered by Cohn during those periods. </FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=43% align=left nowrap>&nbsp;  </TD>
  <TD width=33%>&nbsp;  </TD>
  <TD width=8% align=right nowrap>
    <div align="center"><B><FONT size=2 face="serif">2007</FONT></B> </div></TD>
  <TD width=6%>&nbsp;  </TD>
  <TD width=8% align=right nowrap>
    <div align="center"><B><FONT size=2 face="serif">2006</FONT></B> </div></TD>
  <TD width=2% align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD align=left nowrap>
<FONT size=2 face="serif">Audit Fees</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">&#36;180,448</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">&#36;281,775</FONT>  </TD>
  <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">Audit Related Fees</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">21,375</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">12,000</FONT>  </TD>
  <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD align=left nowrap>
<FONT size=2 face="serif">Tax Fees</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">95,500</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">83,300</FONT>  </TD>
  <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">Total</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">&#36;297,323</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">&#36;377,075</FONT>  </TD>
  <TD align=right nowrap>&nbsp;</TD>
</TR>
</TABLE>
<BR>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Audit Fees.</FONT></I></B><FONT size=2 face="serif"> Annual audit fees relate to services rendered in connection with the audit of our consolidated financial statements and the quarterly
reviews of financial statements included in our Forms 10-Q. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Audit Related Fees.</FONT></I></B><FONT size=2 face="serif"> Audit related services include fees for SEC registration statement services, benefit plan audits, consultation on accounting
standards or transactions, statutory audits, business acquisitions, and assessment of risk management controls in connection with the implementation of Section 404 of the Sarbanes-Oxley Act of 2002. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Tax Fees.</FONT></I></B><FONT size=2 face="serif"> Tax services include fees for tax compliance, tax advice and tax planning. </FONT></P>
<P align="left">
<FONT size=2 face="serif">The Audit Committee considers whether the provision of these services is compatible with maintaining the auditor&#146;s independence, and has determined such services for fiscal 2006 and 2007 were compatible. </FONT></P>
<P align="left">
<FONT size=2 face="serif">We have been advised by Cohn that neither the firm, nor any member of the firm, has any financial interest, direct or indirect, in any capacity in the Company or its subsidiaries. </FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">Policy on Audit Committee Pre-Approval of Audit and Non-Audit Services of Independent Auditor </FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">The Audit Committee is responsible for appointing, setting compensation and overseeing the work of the independent auditor. The Audit Committee has established a policy regarding pre-approval of all audit and non-audit
services provided by the independent auditor. </FONT></P>
<P align="center">
<FONT size=2 face="serif">8</FONT></P>

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<P STYLE="page-break-before:always"></P><PAGE>


<P align="left">
<FONT size=2 face="serif">On an ongoing basis, management communicates specific projects and categories of service for which the advance approval of the Audit Committee is requested. The Audit Committee reviews these requests and advises management
if the Committee approves the engagement of the independent auditor. On a periodic basis, management reports to the Audit Committee regarding the actual spending for such projects and services compared to the approved amounts. The projects and
categories of service are as follows: </FONT></P>
<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Audit</FONT></I></B><FONT size=2 face="serif">&#151;Annual audit fees relate to services rendered in connection with the audit of our consolidated financial statements and
  the quarterly reviews of financial statements included in our Forms 10-Q. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Audit Related Services</FONT></I></B><FONT size=2 face="serif">&#151;Audit related services include fees for SEC registration statement services, benefit plan audits, consultation on
accounting standards or transactions, statutory audits, and business acquisitions. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Tax</FONT></I></B><FONT size=2 face="serif">&#151;Tax services include fees for tax compliance, tax advice and tax planning.</FONT></P>
<P align="center">
<B><FONT size=2 face="serif">COMPENSATION DISCUSSION AND ANALYSIS</FONT></B></P>
<P align="left">
<FONT size=2 face="serif">Our Compensation Committee discharges the responsibilities of the Board of Directors with respect to compensation of the our executive officers as defined in Section 16 of the Exchange Act &#151; which, with respect to the
fiscal year ended September 29, 2007, includes the Chief Executive Officer, Michael Weinstein (the &#147;CEO&#148;); the President and Chief Operating Officer, Robert Towers; Senior Vice Presidents Vincent Pascal and Paul Gordon; and the Chief
Financial Officer, Robert Stewart (together with the CEO, and Messrs. Towers, Pascal, Gordon and Stewart, the &#147;Named Executive Officers&#148; or &#147;NEOs&#148;) &#151; and administration of the Company&#146;s equity-based employee
compensation plans and is responsible for evaluating the CEO&#146;s and the other NEOs&#146; performance in light of Board of Director objectives and establishing compensation levels based on such evaluation. Additionally, the Compensation Committee
makes recommendations to the Board of Directors regarding incentive compensation plans and equity-based plans with respect to the CEO and the other NEOs.</FONT><FONT face="serif"> </FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">Executive Compensation Objectives</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">Our philosophy is that compensation paid to the CEO and the other NEOs should be closely aligned with the values, objectives and performance of the Company on both a short- and long-term basis. Our executive compensation
program is designed to achieve the following objectives: </FONT><FONT face="serif"> </FONT></P>
<UL STYLE="margin-left:60px">
<LI>
<P align="left"><FONT size=2 face="serif">Attract and retain highly qualified individuals who are capable of making significant contributions to our long-term success;</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Reward the CEO and the other NEOs for long-term strategic management and the enhancement of shareholder value; and</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Promote a performance-oriented environment that encourages Company and individual achievement.</FONT></P></LI>
</UL>
<P align="left">
<B><I><FONT size=2 face="serif">Executive Compensation Procedures</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">In an effort to attain the Company's executive compensation objectives, we have established and implemented the following procedures:</FONT><I><FONT face="serif"> </FONT></I></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Role of the Compensation Committee. </FONT></I></B><FONT size=2 face="serif">The Compensation Committee has responsibility for establishing and monitoring the executive compensation
programs of the Company and for making decisions regarding the compensation of the CEO and the other NEOs. The agenda for meetings of the Compensation Committee is determined by the Chairperson of the Compensation Committee, in consultation with the
CEO. Compensation Committee meetings are often attended by the CEO. The Compensation Committee also meets in executive session. In determining compensation of the CEO, the Compensation Committee reviews data which it believes is representative of
the restaurant industry, primarily by reviewing public disclosure of other public companies, as filed with the SEC. This peer group of comparable companies was selected in 2005 and may be revised by the Compensation Committee from time to time. The
Compensation Committee considers, among other factors, the Company's performance and relative shareholder return, the value of similar incentive awards to executive officers</FONT></P>
<P align="center">
<FONT size=2 face="serif">9</FONT></P>

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<P STYLE="page-break-before:always"></P><PAGE>


<P align="left">
<FONT size=2 face="serif">at comparable companies, the awards given to the CEO and the other NEOs in past years, and other factors considered relevant by the Compensation Committee. </FONT><FONT face="serif"> </FONT></P>
<P align="left">
<FONT size=2 face="serif">The Compensation Committee also monitors, administers and approves awards under the Company's incentive compensation plans for the CEO and the other NEOs, including awards under the Company's 2004 Stock Option Plan (the
"Plan"). </FONT><FONT face="serif"> </FONT></P>
<P align="left">
<FONT size=2 face="serif">The Compensation Committee typically meets toward the end or shortly after the end of the calendar year to approve base salaries of the CEO and the other NEOs for the coming year and to consider annual incentive bonus
awards for the previous year. At that meeting, the Compensation Committee also reviews the status of long-term incentives available to the CEO and the other NEOs (historically limited to options to purchase shares of Common Stock) and considers
whether any additional long-term incentive awards are appropriate.</FONT></P>
<P align="left">
<FONT size=2 face="serif">The Compensation Committee relies on its experience and judgment in making executive compensation decisions after reviewing the performance of the Company for the applicable fiscal year, evaluating the CEO&#146;s and the
other NEOs&#146; responsibilities within the Company and current compensation arrangements. The compensation program for the CEO and the other NEOs and the Compensation Committee assessment process is designed to be flexible so as to better respond
to the evolving business environment and individual circumstances.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Role of Consultants. </FONT></I></B><FONT size=2 face="serif">The Company and the Compensation Committee has not engaged the services of compensation consultants, but either or both may
do so upon a case-by-case basis as circumstances warrant. No compensation consultants were involved in setting the compensation of the CEO or the other NEOs during the fiscal year ended September 29, 2007.</FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">Executive Compensation Program</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">The following components of the Company's executive compensation program and the policies that govern their implementation are outlined briefly below:</FONT></P>
<UL STYLE="margin-left:60px">
<LI>
<P align="left"><FONT size=2 face="serif">Base Salary;</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Annual Bonus; and</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Long-Term Equity Awards.</FONT></P></LI>
</UL>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Base Salary.</FONT></I></B><FONT size=2 face="serif">  The base salary for the CEO and the other NEOs is set at a level that the Compensation Committee believes is generally competitive
with levels of compensation paid to chief executive and other named executive officers of other comparably-sized restaurant operating companies. The overall performance of the Company, shareholder return, and the Company's progress toward achieving
specific objectives are also important factors in setting base salary for the CEO and NEOs. The Compensation Committee also considers, among other factors, the value of similar incentive awards to chief executive officers and other named executive
officers at comparable restaurant companies, the awards given to the CEO and NEOs in past years, and other factors considered relevant by the Committee.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Annual Bonus. </FONT></I></B><FONT size=2 face="serif">The annual bonus component of the CEO's and the other NEOs&#146; compensation is intended to reward short-term performance and help
the Company retain the CEO and the other NEOs. The aggregate amount of annual bonus payable to the CEO and the other NEOs for each fiscal year is set at levels which the Compensation Committee believes are competitive with the Company's peers such
that the combination of base salary and bonuses results in an aggregate rate of cash salary and bonus compensation within competitive, market standards when the Company meets the performance objectives.</FONT></P>
<P align="left">
<FONT size=2 face="serif">The amount of performance-based annual bonus payable to the CEO and the other NEOs each year is contingent on several factors, including the degree to which the Company attains certain performance goals based on Company
annual EBITDA targets for the year in question. The Compensation Committee determines the actual amount of performance-based bonus payable to the CEO and the other NEOs shortly after the close of the fiscal year to which</FONT></P>
<P align="center">
<FONT size=2 face="serif">10</FONT></P>

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<P STYLE="page-break-before:always"></P><PAGE>


<P align="left">
<FONT size=2 face="serif">the bonus relates, once financial results for the year are known. The performance-based bonus amount, if any, is paid within 60 days after year-end results are audited.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Long-Term Equity Awards. </FONT></I></B><FONT size=2 face="serif">Discretionary long-term equity awards, in the form of stock options, are granted at the Compensation Committee's
discretion to the CEO and the other</FONT><FONT face="serif"> </FONT><FONT size=2 face="serif">NEOs from time to time in an effort to provide long-term performance-based compensation, to encourage the CEO and the other</FONT><FONT face="serif">
</FONT><FONT size=2 face="serif">NEOs to continue their engagement with the Company throughout the applicable option vesting periods and to align management and shareholder interests. In making awards under the Plan, the Compensation Committee
considers grant size and the appropriate combination of equity-based awards. In years in which stock options are granted, such options are granted with an exercise price equal to the closing price per share on the date of grant (or if the market is
closed, with the most immediately available recent closing price). Options vest incrementally over time as determined by the Compensation Committee at the time of grant. The Company does not grant options with an exercise price below 100% of the
trading price of the underlying shares of common stock on the date of grant or grant options that are priced on a date other than the grant date (unless granted on a Saturday or day when the market is closed). In granting stock options to the CEO
and the other</FONT><FONT face="serif"> </FONT><FONT size=2 face="serif">NEOs, the Company also considers the impact of the grant on the Company's financial performance, as determined in accordance with the requirements of Statement of Financial
Accounting Standards No. 123(R), </FONT><I><FONT size=2 face="serif">Share-Based Payment</FONT></I><FONT size=2 face="serif"> ("SFAS No. 123(R)"). In accordance with SFAS 123(R), the Company values employee stock options using the Black-Scholes
option valuation method that uses assumptions that relate to the expected volatility of the Company&#146;s common stock, the expected dividend yield of our stock, the expected life of the options and the risk free interest rate. The amount of
expense the Company records pursuant to SFAS 123(R) may vary from the corresponding compensation value used by the Company in determining the amount of the awards.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I><FONT size=2 face="serif">Other Personal Benefits. </FONT></I></B><FONT size=2 face="serif">The Company provides health and disability benefits to the CEO and the other NEOs. The Company does not maintain any
pension, retirement, deferred compensation, life insurance or other benefit plans or programs for the CEO or the other</FONT><FONT face="serif"> </FONT><FONT size=2 face="serif">NEOs.</FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">Deductibility of Executive Compensation</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">Section 162(m) of the Internal Revenue Code of 1986, as amended (the "Code"), imposes a &#36;1 million annual limit on the amount that a public company may deduct for compensation paid to the company's chief executive
officer during a tax year or to any of the company's four other most highly compensated executive officers who are still employed at the end of the tax year. The limit does not apply to compensation that meets the requirements of Code Section 162(m)
for "qualified performance-based" compensation (i.e., compensation paid only if the executive meets pre-established, objective goals based upon performance criteria approved by the Company's shareholders). The Compensation Committee reviews and
considers the deductibility of executive compensation under Section 162(m) of the Code. In certain situations, the Compensation Committee may approve compensation that will not meet the requirements of Code Section 162(m) in order to ensure
competitive levels of total compensation for its CEO or the other</FONT><FONT face="serif"> </FONT><FONT size=2 face="serif">NEOs.</FONT></P>
<P align="center">
<B><FONT size=2 face="serif">COMPENSATION COMMITTEE REPORT</FONT></B></P>
<P align="left">
<FONT size=2 face="serif"> The Compensation Committee has reviewed the foregoing Compensation Discussion and Analysis required by Item 402(b) of Regulation S-K and discussed the Compensation Discussion and Analysis with the Company's management.
Based on such review and discussions with management, the Compensation Committee recommended to the Board of Directors of the Company that the foregoing Compensation Discussion and Analysis be included in this Proxy Statement.</FONT></P>
<P align="left">
<FONT size=2 face="serif">By the Compensation Committee of the Board of Directors:</FONT></P>
<P align="left">
<FONT size=2 face="serif">Marcia Allen, Steven Shulman and Arthur Stainman</FONT></P>
<P align="center">
<FONT size=2 face="serif">11</FONT></P>

<HR noshade width="100%" size=4>



<P STYLE="page-break-before:always"></P><PAGE>


<P align="center">
<B><FONT size=2 face="serif">EXECUTIVE COMPENSATION</FONT></B></P>
<P align="left">
<FONT size=2 face="serif">The following table sets forth compensation for the Company&#146;s CEO and the other NEOs during the fiscal year ended September 29, 2007. </FONT></P>
<P align="center">
<B><FONT size=2 face="serif">SUMMARY COMPENSATION TABLE</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width="90%" align=left nowrap>
<B><FONT size=1 face="serif">Name and Principal Position</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
<B><FONT size=1 face="serif">Year</FONT></B>  </TD>
  <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
  <TD align=left nowrap>
    <div align="center"><B><FONT size=1 face="serif">Salary</FONT></B> </div></TD>
  <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
  <TD align=center nowrap>
<B><FONT size=1 face="serif">Bonus</FONT></B>  </TD>
  <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
  <TD align=center nowrap><B><FONT size=1 face="serif">Stock</FONT></B> </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
    <div align="center"><B><FONT size=1 face="serif">Option</FONT></B> </div></TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
<B><FONT size=1 face="serif">Non-Equity</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap> <div align="center"><B><FONT size=1 face="serif">Total</FONT></B> </div></TD>
</TR>
<TR valign="bottom">
  <TD width="90%" align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
    <div align="center"><B><FONT size=1 face="serif">(&#36;)</FONT></B> </div></TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap><div align="center"><B><FONT size=1 face="serif">(&#36;)</FONT></B> </div></TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap><B><FONT size=1 face="serif">Awards</FONT></B> </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
    <div align="center"><B><FONT size=1 face="serif">Awards</FONT></B> </div></TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
    <div align="center"><B><FONT size=1 face="serif">Incentive Plan</FONT></B> </div></TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap><div align="center"><B><FONT size=1 face="serif">(&#36;)</FONT></B> </div></TD>
</TR>
<TR valign="bottom">
  <TD width="90%" align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>  <div align="center"></div></TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap><div align="center"><B><FONT size=1 face="serif">(&#36;)</FONT></B> </div></TD>
  <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
  <TD align=left nowrap><div align="center"><B><FONT size=1 face="serif">(&#36;)</FONT></B> </div></TD>
  <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
  <TD align=right nowrap>
    <div align="center"><B><FONT size=1 face="serif">Compensation</FONT></B> </div></TD>
  <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width="90%" align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>  <div align="center"></div></TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap><div align="center"></div></TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
<B><FONT size=1 face="serif">(&#36;)</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR>
  <TD colspan=15>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width="90%" align=left nowrap>
<FONT size=2 face="serif">Michael Weinstein</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">2007</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
    <div align="center"><FONT size=2 face="serif">822,431</FONT> </div></TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">39,264</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
    <div align="center"><FONT size=2 face="serif">273,500</FONT> </div></TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">0</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,135,195</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width="90%" align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Chief Executive Officer</FONT>  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">  <div align="center"></div></TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">  <div align="center"></div></TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
</TR>
<TR>
  <TD colspan=15>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width="90%" align=left nowrap>
<FONT size=2 face="serif">Vincent Pascal</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">2007</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
    <div align="center"><FONT size=2 face="serif">361,288</FONT> </div></TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">17,248</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">0</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
    <div align="center"><FONT size=2 face="serif">109,400</FONT> </div></TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">0</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">487,936</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="90%" align=left nowrap>
<FONT size=2 face="serif">Senior Vice President</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>  <div align="center"></div></TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>  <div align="center"></div></TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR>
  <TD colspan=15>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width="90%" align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Robert Towers</FONT>  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">2007</FONT>  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">
    <div align="center"><FONT size=2 face="serif">360,895</FONT> </div></TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">85,248</FONT>  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">0</FONT>  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">
    <div align="center"><FONT size=2 face="serif">109,400</FONT> </div></TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">0</FONT>  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">555,543</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width="90%" align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">President, Chief Operating</FONT>  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">  <div align="center"></div></TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">  <div align="center"></div></TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width="90%" align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Officer and Treasurer</FONT>  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">  <div align="center"></div></TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">  <div align="center"></div></TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
</TR>
<TR>
  <TD colspan=15>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width="90%" align=left nowrap>
<FONT size=2 face="serif">Paul Gordon</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">2007</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
    <div align="center"><FONT size=2 face="serif">304,812</FONT> </div></TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">70,700(1)</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">0</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
    <div align="center"><FONT size=2 face="serif">109,400</FONT> </div></TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">0</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">484,912</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="90%" align=left nowrap>
<FONT size=2 face="serif">Senior Vice President</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>  <div align="center"></div></TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>  <div align="center"></div></TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR>
  <TD colspan=15>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width="90%" align=left nowrap>
<FONT size=2 face="serif">Robert Stewart</FONT>  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">2007</FONT>  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">
    <div align="center"><FONT size=2 face="serif">272,300</FONT> </div></TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">13,000</FONT>  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">0</FONT>  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF">
    <div align="center"><FONT size=2 face="serif">109,400</FONT> </div></TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">0</FONT>  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=right nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">394,700</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width="90%" align=left nowrap>
<FONT size=2 face="serif">Chief Financial Officer</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>  <div align="center"></div></TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>  <div align="center"></div></TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
</TABLE>
<div style="border-bottom:1px solid #000000; width:100px">&nbsp;</div>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
  <TD colspan="2" valign=top nowrap><p><font size=1>&nbsp;</font></p>
    </TD>
  </TR>
<TR>
  <TD nowrap valign=top>
<FONT size=2 face="serif">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
  <TD width=100%>
<P align="left"><FONT size=2 face="serif">Pursuant to an verbal arrangement between the Company and Mr. Gordon, Mr. Gordon is entitled to 1% of operating profits of the Las Vegas operations. &#36;57,528 of this amount represents commissions of 1% of
operating profits of the Las Vegas operations.</FONT></P>  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
<P align="center">
<FONT size=2 face="serif">12</FONT></P>

<HR noshade width="100%" size=4>



<P STYLE="page-break-before:always"></P><PAGE>


<P align="center">
<B><FONT size=2 face="serif">GRANTS OF PLAN-BASED AWARDS TABLE</FONT></B></P>
<P align="left">
<FONT size=2 face="serif">The following table sets forth information concerning plan-based compensation awards granted to the CEO and the other</FONT><B><FONT size=2 face="serif"> </FONT></B><FONT size=2 face="serif">NEOs during the fiscal year
ended September 29, 2007.</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width="20%" align=left nowrap> <div align="center"><B><FONT size=1 face="serif">Name</FONT></B> </div></TD>
  <TD width="20%" align=center nowrap>
<B><FONT size=1 face="serif">Grant Date</FONT></B>  </TD>
  <TD width="20%" align=center nowrap>
<B><FONT size=1 face="serif">All Other Option</FONT></B>  </TD>
  <TD width="20%" align=center nowrap>
<B><FONT size=1 face="serif">Exercise or Base Price of</FONT></B>  </TD>
  <TD width="20%" align=center nowrap>
<B><FONT size=1 face="serif">Grant Date</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="20%" align=center nowrap>
<B><FONT size=1 face="serif">Awards: Number of</FONT></B>  </TD>
  <TD width="20%" align=center nowrap>
<B><FONT size=1 face="serif">Option Awards</FONT></B>  </TD>
  <TD width="20%" align=center nowrap>
<B><FONT size=1 face="serif">Fair Value of</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="20%" align=center nowrap>
<B><FONT size=1 face="serif">Securities Underlying</FONT></B>  </TD>
  <TD width="20%" align=center nowrap>
<B><FONT size=1 face="serif">(&#36;/Sh)</FONT></B>  </TD>
  <TD width="20%" align=center nowrap>
<B><FONT size=1 face="serif">Stock and Option</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="20%" align=center nowrap>
<B><FONT size=1 face="serif">Options (1)</FONT></B>  </TD>
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="20%" align=center nowrap>
<B><FONT size=1 face="serif">Awards</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="20%" align=center nowrap>
<B><FONT size=1 face="serif">(#)</FONT></B>  </TD>
  <TD width="20%" align=left nowrap>&nbsp;  </TD>
  <TD width="20%" align=center nowrap>
<B><FONT size=1 face="serif">(&#36;)</FONT></B>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width="20%" align=left nowrap>
<FONT size=2 face="serif">Michael Weinstein</FONT>  </TD>
  <TD width="20%" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">12/19/06</FONT>  </TD>
  <TD width="20%" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">25,000</FONT>  </TD>
  <TD width="20%" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">32.15</FONT>  </TD>
  <TD width="20%" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">273,500</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>
<FONT size=2 face="serif">Vincent Pascal</FONT>  </TD>
  <TD width="20%" align=center nowrap>
<FONT size=2 face="serif">12/19/06</FONT>  </TD>
  <TD width="20%" align=center nowrap>
<FONT size=2 face="serif">10,000</FONT>  </TD>
  <TD width="20%" align=center nowrap>
<FONT size=2 face="serif">32.15</FONT>  </TD>
  <TD width="20%" align=center nowrap>
<FONT size=2 face="serif">109,400</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width="20%" align=left nowrap>
<FONT size=2 face="serif">Robert Towers</FONT>  </TD>
  <TD width="20%" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">12/19/06</FONT>  </TD>
  <TD width="20%" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">10,000</FONT>  </TD>
  <TD width="20%" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">32.15</FONT>  </TD>
  <TD width="20%" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">109,400</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width="20%" align=left nowrap>
<FONT size=2 face="serif">Paul Gordon</FONT>  </TD>
  <TD width="20%" align=center nowrap>
<FONT size=2 face="serif">12/19/06</FONT>  </TD>
  <TD width="20%" align=center nowrap>
<FONT size=2 face="serif">10,000</FONT>  </TD>
  <TD width="20%" align=center nowrap>
<FONT size=2 face="serif">32.15</FONT>  </TD>
  <TD width="20%" align=center nowrap>
<FONT size=2 face="serif">109,400</FONT>  </TD>
</TR>

<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width="20%" align=left nowrap>
<FONT size=2 face="serif">Robert Stewart</FONT>  </TD>
  <TD width="20%" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">12/19/06</FONT>  </TD>
  <TD width="20%" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">10,000</FONT>  </TD>
  <TD width="20%" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">32.15</FONT>  </TD>
  <TD width="20%" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">109,400</FONT>  </TD>
</TR>
</TABLE>
<div style="border-bottom:1px solid #000000; width:100px">&nbsp;</div>
<P align="left"><FONT size=2 face="serif">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="serif">These options will vest at a rate of 25% per year over four years. </FONT></P>
<P align="left">
<FONT size=2 face="serif">Other than our unwritten agreement with Mr. Gordon relating to our Las Vegas operations, we do not have any written or unwritten employment agreement with our CEO or any of the other NEOs, all of whom are at-will employees
who may be terminated at any time without severance pay. The relative portions of total compensation allotted to salary and bonus are determined at the sole discretion of the Compensation Committee. </FONT></P>
<P align="center">
<B><FONT size=2 face="serif">OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END TABLE</FONT></B></P>
<P align="left">
<FONT size=2 face="serif">The following table provides information on the holdings of stock options by the CEO and NEOs as of September 29, 2007. </FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=20% align=left nowrap> <div align="right"><B><FONT size=1 face="serif">Option&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></div></TD>
  <TD width=20% align=left nowrap><B><FONT size=1 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Awards</FONT></B> </TD>
  <TD width=20% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">Number of</FONT></B>  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">Number of</FONT></B>  </TD>
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=20% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">Securities Underlying</FONT></B>  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">Securities Underlying</FONT></B>  </TD>
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=20% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">Unexercised Options</FONT></B>  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">Unexercised Options</FONT></B>  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">Option</FONT></B>  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">Option</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">(#)</FONT></B>  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">(#)</FONT></B>  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">Exercise Price</FONT></B>  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">Expiration</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap> <div align="center"><B><FONT size=1 face="serif">Name</FONT></B> </div></TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">Exercisable</FONT></B>  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">Unexercisable</FONT></B>  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">(&#36;)</FONT></B>  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">Date</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<FONT size=2 face="serif">Michael Weinstein</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">12,500</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">0</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">29.60</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">12/21/14</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">0</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">25,000</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">32.15</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">12/18/16</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<FONT size=2 face="serif">Vincent Pascal</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">17,500</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">0</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">29.60</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">12/21/14</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">0</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">10,000</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">32.15</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">12/18/16</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<FONT size=2 face="serif">Robert Towers</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">17,500</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">0</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">29.60</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">12/21/14</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">0</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">10,000</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">32.15</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">12/18/16</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<FONT size=2 face="serif">Paul Gordon</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">17,500</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">0</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">29.60</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">12/21/14</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">0</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">10,000</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">32.15</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">12/18/16</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<FONT size=2 face="serif">Robert Stewart</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">17,500</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">0</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">29.60</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">12/21/14</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">0</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">10,000</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">32.15</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">12/18/16</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="serif">13</FONT></P>

<HR noshade width="100%" size=4>



<P STYLE="page-break-before:always"></P><PAGE>


<P align="center">
<B><FONT size=2 face="serif">OPTION EXERCISES AND STOCK VESTED TABLE</FONT></B></P>
<P align="left">
<FONT size=2 face="serif">The following table shows the number of shares acquired upon exercise of stock options by the CEO and NEOs during the fiscal year ended September 29, 2007. </FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=33% align=left nowrap>&nbsp;  </TD>
  <TD width=34% align=center nowrap>
<B><FONT size=1 face="serif">Option Awards</FONT></B>  </TD>
  <TD width=33% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD width=33% align=left nowrap>&nbsp;  </TD>
  <TD width=34% align=center nowrap>
<B><FONT size=1 face="serif">Number of Shares</FONT></B>  </TD>
  <TD width=33% align=center nowrap>
<B><FONT size=1 face="serif">Value Realized</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD width=33% align=left nowrap><div align="center"><B><FONT size=1 face="serif">Name</FONT></B> </div></TD>
  <TD width=34% align=center nowrap>
<B><FONT size=1 face="serif">Acquired on Exercise (#)</FONT></B>  </TD>
  <TD width=33% align=center nowrap>
<B><FONT size=1 face="serif">on Exercise (&#36;)</FONT></B>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width=33% align=left nowrap>
<FONT size=2 face="serif">Michael Weinstein</FONT>  </TD>
  <TD width=34% align=center nowrap>
<FONT size=2 face="serif">12,500</FONT>  </TD>
  <TD width=33% align=center nowrap>
<FONT size=2 face="serif">38,750(1)</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=33% align=left nowrap>
<FONT size=2 face="serif">Vincent Pascal</FONT>  </TD>
  <TD width=34% align=center nowrap>
<FONT size=2 face="serif">--</FONT>  </TD>
  <TD width=33% align=center nowrap>
<FONT size=2 face="serif">--</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width=33% align=left nowrap>
<FONT size=2 face="serif">Robert Towers</FONT>  </TD>
  <TD width=34% align=center nowrap>
<FONT size=2 face="serif">--</FONT>  </TD>
  <TD width=33% align=center nowrap>
<FONT size=2 face="serif">--</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=33% align=left nowrap>
<FONT size=2 face="serif">Paul Gordon</FONT>  </TD>
  <TD width=34% align=center nowrap>
<FONT size=2 face="serif">8,000</FONT>  </TD>
  <TD width=33% align=center nowrap>
<FONT size=2 face="serif">36,050(2)</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width=33% align=left nowrap>
<FONT size=2 face="serif">Robert Stewart</FONT>  </TD>
  <TD width=34% align=center nowrap>
<FONT size=2 face="serif">--</FONT>  </TD>
  <TD width=33% align=center nowrap>
<FONT size=2 face="serif">--</FONT>  </TD>
</TR>
</TABLE>
<div style="border-bottom:1px solid #000000; width:100px">&nbsp;</div>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
  <TD colspan="2" valign=top nowrap><p><font size=1>&nbsp;</font></p>    </TD>
  </TR>
<TR>
  <TD nowrap valign=top>
<FONT size=2 face="serif">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
  <TD>
<P align="left"><FONT size=2 face="serif">Options exercised were a then gifted
    to The Weinstein Foundation, a private foundation of which Mr. Weinstein
    acts as trustee and as to which shares Mr. Weinstein has shared investment
    and shared voting  power. The &#147;value realized on exercise&#148; is the
    difference between the closing price of our common stock as reported on the
    NASDAQ Global Market on the date of exercise and the exercise price of the
    option.</FONT></P>  </TD>
</TR>

<TR><TD colspan=2>&nbsp;</TD></TR><TR>
  <TD nowrap valign=top>
<FONT size=2 face="serif">(2)</FONT></TD>
  <TD>
<P align="left"><FONT size=2 face="serif">The &#147;value realized on exercise&#148; is the difference between the price the underlying security was sold for on the date of exercise and the exercise price of the option.</FONT></P>  </TD>
</TR>
</TABLE>
<P align="center">
<B><FONT size=2 face="serif">DIRECTOR COMPENSATION</FONT></B></P>
<P align="left">
<FONT size=2 face="serif"> The Company uses cash compensation and equity-based incentive compensation to attract and retain qualified candidates to serve as directors. In setting director compensation, the Company considers the significant amount of
time that directors expend in fulfilling their duties to the Company as well as the skill level required by the Company of directors.</FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">Compensation Paid to Directors in 2007</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">In fiscal 2007 the Company paid a fee of &#36;22,500 to each director who was not an officer of the Company. Directors who are also full-time employees of the Company did not receive any director fees. In addition, the
independent director who serves as chairman of the Audit Committee of the Board receives an annual retainer fee of &#36;5,000. The independent directors who serve on the Audit, Compensation and Nominating and Corporate Governance Committees,
respectively, including the chairman of the Audit Committee, receive &#36;1,000 for each meeting that they attended and each member of the Board receives an additional &#36;1,000 for each Board meeting that they attended in excess of one per
quarter. The Company reimburses directors for out-of-pocket expenses incurred in connection with attending Board of Director and committee meetings. </FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">Director Summary Compensation Table</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">The following table summarizes the compensation earned by or paid to the Company's non-employee directors from the Company for the year ended September 29, 2007. </FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=20% align=left nowrap> <div align="center"><B><FONT size=1 face="serif">Name</FONT></B> </div></TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">Fees Earned or Paid in</FONT></B>  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">Option</FONT></B>  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">All Other</FONT></B>  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">Total</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">Cash</FONT></B>  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">Awards</FONT></B>  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">Compensation</FONT></B>  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">(&#36;)</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>&nbsp;  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">(&#36;)</FONT></B>  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">(&#36;)</FONT></B>  </TD>
  <TD width=20% align=center nowrap>
<B><FONT size=1 face="serif">(&#36;)</FONT></B>  </TD>
  <TD width=20% align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width=20% align=left nowrap>
<FONT size=2 face="serif">Bruce R. Lewin</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">37,500</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">54,700</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">--</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">92,000</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<FONT size=2 face="serif">Steven Shulman</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">26,500</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">54,700</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">--</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">81,200</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width=20% align=left nowrap>
<FONT size=2 face="serif">Marcia Allen</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">31,500</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">54,700</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">--</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">86,200</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD width=20% align=left nowrap>
<FONT size=2 face="serif">Arthur Stainman</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">29,500</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">54,700</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">--</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">84,200</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD width=20% align=left nowrap>
<FONT size=2 face="serif">Stephen Novick</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">25,500</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">54,700</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">--</FONT>  </TD>
  <TD width=20% align=center nowrap>
<FONT size=2 face="serif">80,200</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="serif">14</FONT></P>

<HR noshade width="100%" size=4>



<P STYLE="page-break-before:always"></P><PAGE>


<P align="center">
<B><FONT size=2 face="serif">COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION</FONT></B></P>
<P align="left">
<FONT size=2 face="serif">No member of the Company&#146;s Compensation Committee is an employee or officer of the Company. No officer, director or other person had any interlock relationship required to be disclosed in this proxy statement.
</FONT></P>
<P align="center">
<B><FONT size=2 face="serif">STOCK OWNERSHIP INFORMATION</FONT></B></P>
<P align="left">
<B><I><FONT size=2 face="serif">Security Ownership of Certain Beneficial Owners and Management </FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">The following table sets forth certain information as of January 18, 2008, with respect to the beneficial ownership of shares of our common stock owned by: </FONT></P>
<UL STYLE="margin-left:60px">
<LI>
<P align="left"><FONT size=2 face="serif">Each of our directors, our CEO and the other NEOs;</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">All directors and executive officers as a group; and</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Each person or entity who is known to us to be the beneficial owner of more than 5% of our common stock.</FONT></P></LI>
</UL>
<P align="left">
<FONT size=2 face="serif">As of January 18, 2008, our outstanding equity securities consisted of 3,701,799 shares of common stock. The number of shares beneficially owned by each stockholder is determined under rules promulgated by the SEC and
generally includes voting or investment power over the shares. The information does not necessarily indicate beneficial ownership for any other purpose. Under the SEC rules, the number of shares of common stock deemed outstanding includes shares
issuable upon the conversion of other securities, as well as the exercise of options or the settlement of restricted stock units held by the respective person or group that may be exercised or settled on or within 60 days of January 18, 2008. For
purposes of calculating each person&#146;s or group&#146;s percentage ownership, shares of common stock issuable pursuant to stock options and restricted stock units that may be exercised or settled on or within 60 days of January 18, 2008 are
included as outstanding and beneficially owned by that person or group but are not treated as outstanding for the purpose of computing the percentage ownership of any other person or group.</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width="70%" align=center nowrap>
<B><FONT size=1 face="serif">Name and Address</FONT></B>  </TD>
  <TD width="15%" align=center nowrap>
<B><FONT size=1 face="serif">Amount and Nature</FONT></B>  </TD>
  <TD colspan="2" align=center nowrap>
<B><U><FONT size=1 face="serif">Percent of Class</FONT></U></B>  </TD>
  </TR>
<TR valign="bottom">
  <TD width="70%" align=right nowrap>
    <div align="center"><B><U><FONT size=1 face="serif">of Beneficial Owner</FONT></U></B> </div></TD>
  <TD width="15%" align=center nowrap>
<B><FONT size=1 face="serif">of</FONT></B>  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>&nbsp;  </TD>
  <TD width="15%" align=center nowrap>
<B><U><FONT size=1 face="serif">Beneficial Ownership</FONT></U></B>  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>&nbsp;  </TD>
  <TD width="15%" align=center nowrap>
<B><U><FONT size=1 face="serif">(1)</FONT></U></B>  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Michael Weinstein</FONT>  </TD>
  <TD width="15%" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">1,084,770(2)</FONT>  </TD>
  <TD width="10%" align=right nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">29.30%</FONT>  </TD>
  <TD width="5%" align=right nowrap bgcolor="#E5FFFF">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap bgcolor="#E5FFFF">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">85 Fifth Avenue</FONT>  </TD>
  <TD width="15%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E5FFFF">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap bgcolor="#E5FFFF">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">New York, New York 10003</FONT>  </TD>
  <TD width="15%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E5FFFF">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>
<FONT size=2 face="serif">Kirkwood Capital, LP</FONT>  </TD>
  <TD width="15%" align=center nowrap>
<FONT size=2 face="serif">250,153(3)</FONT>  </TD>
  <TD width="10%" align=right nowrap>
<FONT size=2 face="serif">6.76%</FONT>  </TD>
  <TD width="5%" align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">1634 Ponce De Leon</FONT>  </TD>
  <TD width="15%" align=left nowrap>&nbsp;  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Atlanta, GA 30307</FONT>  </TD>
  <TD width="15%" align=left nowrap>&nbsp;  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Bruce R. Lewin</FONT>  </TD>
  <TD width="15%" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">267,916(4)(7)</FONT>  </TD>
  <TD width="10%" align=right nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">7.24%</FONT>  </TD>
  <TD width="5%" align=right nowrap bgcolor="#E5FFFF">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap bgcolor="#E5FFFF">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">1329A North Avenue</FONT>  </TD>
  <TD width="15%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E5FFFF">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap bgcolor="#E5FFFF">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">New Rochelle, New York 10804</FONT>  </TD>
  <TD width="15%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E5FFFF">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>
<FONT size=2 face="serif">Vincent Pascal</FONT>  </TD>
  <TD width="15%" align=center nowrap>
<FONT size=2 face="serif">56,808(5)</FONT>  </TD>
  <TD width="10%" align=right nowrap>
<FONT size=2 face="serif">1.53%</FONT>  </TD>
  <TD width="5%" align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">85 Fifth Avenue</FONT>  </TD>
  <TD width="15%" align=left nowrap>&nbsp;  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">New York, New York 10003</FONT>  </TD>
  <TD width="15%" align=left nowrap>&nbsp;  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Robert Towers</FONT>  </TD>
  <TD width="15%" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">39,800(5)(6)</FONT>  </TD>
  <TD width="10%" align=right nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">1.08%</FONT>  </TD>
  <TD width="5%" align=right nowrap bgcolor="#E5FFFF">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap bgcolor="#E5FFFF">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">85 Fifth Avenue</FONT>  </TD>
  <TD width="15%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E5FFFF">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap bgcolor="#E5FFFF">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">New York, New York 10003</FONT>  </TD>
  <TD width="15%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E5FFFF">&nbsp;</TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="serif">15</FONT></P>

<HR noshade width="100%" size=4>



<P STYLE="page-break-before:always"></P><PAGE>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>
<FONT size=2 face="serif">Steven Shulman</FONT>  </TD>
  <TD width="15%" align=center nowrap>
<FONT size=2 face="serif">10,500(7)</FONT>  </TD>
  <TD colspan="2" align=center nowrap>
<FONT size=2 face="serif">Less than 1%</FONT>  </TD>
  </TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">One Liberty Lane</FONT>  </TD>
  <TD width="15%" align=left nowrap>&nbsp;  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Hampton, NH 03842</FONT>  </TD>
  <TD width="15%" align=left nowrap>&nbsp;  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Marcia Allen</FONT>  </TD>
  <TD width="15%" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">1,250(7)</FONT>  </TD>
  <TD colspan="2" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Less than 1%</FONT>  </TD>
  </TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap bgcolor="#E5FFFF">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">9601 Wilshire Boulevard</FONT>  </TD>
  <TD width="15%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E5FFFF">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap bgcolor="#E5FFFF">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Los Angeles, CA 90210</FONT>  </TD>
  <TD width="15%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E5FFFF">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>
<FONT size=2 face="serif">Loeb Partners Corporation</FONT>  </TD>
  <TD width="15%" align=center nowrap>
<FONT size=2 face="serif">341,223(8)</FONT>  </TD>
  <TD width="10%" align=center nowrap>
    <div align="right"><FONT size=2 face="serif">9.22%</FONT> </div></TD>
  <TD width="5%" align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">61 Broadway</FONT>  </TD>
  <TD width="15%" align=left nowrap>&nbsp;  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">New York, New York 10006</FONT>  </TD>
  <TD width="15%" align=left nowrap>&nbsp;  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Paul Gordon</FONT>  </TD>
  <TD width="15%" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">26,500(5)</FONT>  </TD>
  <TD colspan="2" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Less than 1%</FONT>  </TD>
  </TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap bgcolor="#E5FFFF">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">85 Fifth Avenue</FONT>  </TD>
  <TD width="15%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E5FFFF">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap bgcolor="#E5FFFF">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">New York, New York 10003</FONT>  </TD>
  <TD width="15%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E5FFFF">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>
<FONT size=2 face="serif">Robert Stewart</FONT>  </TD>
  <TD width="15%" align=center nowrap>
<FONT size=2 face="serif">21,800(5)</FONT>  </TD>
  <TD colspan="2" align=center nowrap>
<FONT size=2 face="serif">Less than 1%</FONT>  </TD>
  </TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">85 Fifth Avenue</FONT>  </TD>
  <TD width="15%" align=left nowrap>&nbsp;  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">New York, New York 10003</FONT>  </TD>
  <TD width="15%" align=left nowrap>&nbsp;  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Arthur Stainman</FONT>  </TD>
  <TD width="15%" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">38,550(7)(9)</FONT>  </TD>
  <TD width="10%" align=right nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">1.04%</FONT>  </TD>
  <TD width="5%" align=right nowrap bgcolor="#E5FFFF">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap bgcolor="#E5FFFF">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">320 East 72</FONT><SUP><FONT size=2 face="serif">nd </FONT></SUP><FONT size=2 face="serif">Street</FONT>  </TD>
  <TD width="15%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E5FFFF">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap bgcolor="#E5FFFF">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">New York, New York 10021</FONT>  </TD>
  <TD width="15%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E5FFFF">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>
<FONT size=2 face="serif">Prides Capital Partners, L.L.C</FONT>  </TD>
  <TD width="15%" align=center nowrap>
<FONT size=2 face="serif">382,371(10)</FONT>  </TD>
  <TD width="10%" align=center nowrap>
    <div align="right"><FONT size=2 face="serif">10.33%</FONT> </div></TD>
  <TD width="5%" align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">200 High Street, Suite 700</FONT>  </TD>
  <TD width="15%" align=left nowrap>&nbsp;  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Boston, MA 02110</FONT>  </TD>
  <TD width="15%" align=left nowrap>&nbsp;  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
</TR>

<TR valign="bottom">
  <TD width="70%" align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Stephen Novick</FONT>  </TD>
  <TD width="15%" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">1,250(7)</FONT>  </TD>
  <TD colspan="2" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">Less than 1%</FONT>  </TD>
  </TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap bgcolor="#E5FFFF">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">110 East 59</FONT><SUP><FONT size=2 face="serif">th </FONT></SUP><FONT size=2 face="serif">Street</FONT>  </TD>
  <TD width="15%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E5FFFF">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap bgcolor="#E5FFFF">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">New York, New York 10022</FONT>  </TD>
  <TD width="15%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="10%" align=left nowrap bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD width="5%" align=left nowrap bgcolor="#E5FFFF">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>
<FONT size=2 face="serif">Irving Hershkowitz</FONT>  </TD>
  <TD width="15%" align=center nowrap>
<FONT size=2 face="serif">353,000(11)</FONT>  </TD>
  <TD width="10%" align=center nowrap>
    <div align="right"><FONT size=2 face="serif">9.54%</FONT> </div></TD>
  <TD width="5%" align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">c/o Big Geyser, Inc.</FONT>  </TD>
  <TD width="15%" align=left nowrap>&nbsp;  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">57-65 48th Street</FONT>  </TD>
  <TD width="15%" align=left nowrap>&nbsp;  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Maspeth, NY 11378</FONT>  </TD>
  <TD width="15%" align=left nowrap>&nbsp;  </TD>
  <TD width="10%" align=left nowrap>&nbsp;  </TD>
  <TD width="5%" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width="70%" align=left nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">All directors and officers as a group (ten persons)</FONT>  </TD>
  <TD width="15%" align=center nowrap bgcolor="#E5FFFF">
<FONT size=2 face="serif">1,548,644 (12)</FONT>  </TD>
  <TD width="10%" align=center nowrap bgcolor="#E5FFFF">
    <div align="right"><FONT size=2 face="serif">41.83%</FONT> </div></TD>
  <TD width="5%" align=center nowrap bgcolor="#E5FFFF">&nbsp;</TD>
</TR>
</TABLE>
<div style="border-bottom:1px solid #000000; width:100px">&nbsp;</div>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
  <TD colspan="2" valign=top nowrap><p><font size=1>&nbsp;</font></p>    </TD>
  </TR>
<TR>
  <TD nowrap valign=top>
<FONT size=2 face="serif">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
  <TD width=100%>
<P align="left"><FONT size=2 face="serif">Except to the extent otherwise indicated, to the best of the Company&#146;s knowledge, each of the indicated persons exercises sole voting and investment power with respect to all shares beneficially owned
by him.</FONT></P>  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
  <TD nowrap valign=top>
<FONT size=2 face="serif">(2)</FONT></TD>
  <TD width=100%>
<P align="left"><FONT size=2 face="serif">Includes 17,371 shares owned by The Weinstein Foundation, a private foundation of which Mr. Weinstein acts as trustee and as to which shares Mr. Weinstein has shared investment and shared voting power, and
18,750 shares issuable pursuant to stock options exercisable within 60 days after the date of this Proxy Statement.</FONT></P>  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
  <TD nowrap valign=top>
<FONT size=2 face="serif">(3)</FONT></TD>
  <TD width=100%>
<P align="left"><FONT size=2 face="serif">Based upon information set forth in
    Schedule 13G/A filed by Kirkwood Capital, LP (the &#147;Partnership&#148;)
    with the SEC on or about February 13, 2007. Kirkwood Capital, LLC (the &#147;General
     Partner&#148;), the general partner of the Partnership, may be deemed the
     beneficial owner of 250,153 shares, or 6.76% of the Company&#146;s outstanding
     Common Stock. Mr. David Rabinowitz, the managing member of the General Partner,
     may be deemed  the beneficial owner of 250,153 shares, or 6.76% of the Company&#146;s
     outstanding Common Stock. Each shares the power to dispose of the 250,153
    shares.</FONT></P>  </TD>
</TR>

<TR><TD colspan=2>&nbsp;</TD></TR><TR>
  <TD nowrap valign=top>
<FONT size=2 face="serif">(4)</FONT></TD>
  <TD width=100%>
<P align="left"><FONT size=2 face="serif">Includes 1,500 shares owned by Mr. Lewin in his Individual Retirement Account (&#147;IRA&#148;).</FONT></P>  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
<P align="center">
<FONT size=2 face="serif">16</FONT></P>

<HR noshade width="100%" size=4>



<P STYLE="page-break-before:always"></P><PAGE>


<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
  <TD nowrap valign=top>
<FONT size=2 face="serif">(5)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
  <TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">Includes 20,000 shares issuable pursuant to stock options exercisable within 60 days after the date of this Proxy Statement.</FONT></P>  </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
  <TD nowrap valign=top>
<FONT size=2 face="serif">(6)</FONT></TD>
  <TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">Includes 900 shares owned by Mr. Tower&#146;s spouse in her IRA.</FONT></P>  </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
  <TD nowrap valign=top>
<FONT size=2 face="serif">(7)</FONT></TD>
  <TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">Includes 1,250 shares issuable pursuant to stock options exercisable within 60 days after the date of this Proxy Statement.</FONT></P>  </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
  <TD nowrap valign=top>
<FONT size=2 face="serif">(8)</FONT></TD>
  <TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">Based upon information set forth in
    Schedule 13D/A filed by Loeb Partners Corporation (&#147;LPC&#148;) with
    the SEC on or about January 17, 2008. Loeb Arbitrage Management, Inc., (&#147;LAM&#148;)
    is the  general partner of Loeb Arbitrage Fund (&#147;LAF&#148;). Loeb Arbitrage
    B Management, LLC is the general partner of Loeb Arbitrage B Fund LP (&#147;LAFB&#148;).
    The President of these general partners is Gideon J. King. The other officers
    of LAM are Thomas L. Kempner, Chairman of the Board, President, Peter A.
    Tcherepnine, Vice President, and Edward J. Campbell, Vice President. Thomas
    L. Kempner is its President and a director and Chief Executive Officer, Norman
    N. Mintz is a Vice President and also a director, and Gideon J. King is Executive
    Vice President of LPC. Loeb Holding Corporation (&#147;LHC&#148;) is the
    sole stockholder of LAM and LPC. Thomas L. Kempner is its President and a
    director as well as its Chief Executive Officer and majority stockholder
    and Norman N. Mintz and Peter A. Tcherepnine are also directors of LHC. Loeb
    Offshore Management, LLC (&#147;LOM&#148;), a wholly-owned subsidiary of
    LHC, is the investment adviser of Loeb Offshore Fund, Ltd., (&#147;LOF&#148;)
    and Loeb Offshore B Fund Ltd. (&#147;LOFB&#148;) Gideon J. King and Thomas
    L. Kempner are Directors of LOF and LOFB and Managers of LOM. LAM is general
    partner of Loeb Marathon Fund (&#147;LMF&#148;) and investment adviser of
    Loeb Marathon Offshore Fund Ltd. (&#147;LMOF&#148;). As of January 17, 2008,
    LAF beneficially owned 107,854 shares, LPC beneficially owned 92,831 shares
    (including shares purchased for the accounts of customers of LPC as to which
    LPC has investment discretion), LOF beneficially owned 26,054 shares, LMF
    beneficially owned 37,575 shares, LMOF beneficially owned 25,220 shares,
    LAFB beneficially owned 37,742 shares, and LOFB beneficially owned 13,947
    shares. The above-referenced shareholders may, therefore, be deemed the beneficial
    owner of 341,223 shares, or 9.22% of the Company&#146;s outstanding Common
    Stock.</FONT></P>  </TD>
</TR>

<TR><TD colspan=3>&nbsp;</TD></TR><TR>
  <TD nowrap valign=top>
<FONT size=2 face="serif">(9)</FONT></TD>
  <TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">Includes 11,800 shares owned by Mr. Stainman&#146;s spouse and 7,400 shares held by investment advisory clients of First Manhattan Co. ("FMC"), as to which FMC and Mr. Stainman, in his capacity as Managing
Member of First Manhattan LLC, the sole general partner of FMC, share dispositive and voting power.</FONT></P>  </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
  <TD nowrap valign=top>
<FONT size=2 face="serif">(10)</FONT></TD>
  <TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">Based upon information set forth in
    Schedule 13D/A filed by Prides Capital Partners, L.L.C. (&#147;Prides&#148;)
    with the SEC on or about January 15, 2008. The shares are owned directly
    by Prides Capital  Fund I, L.P. Because Prides Capital Partners, L.L.C. is
    the general partner of Prides Capital Fund I, L.P., Prides Capital Partners,
    L.L.C. may be deemed to be the beneficial owner of shares owned by such entity.
    Because Kevin A. Richardson, II, Murray A. Indick, Henry J. Lawlor, Jr. and
    Charles E. McCarthy are the controlling shareholders of Prides Capital Partners,
    L.L.C., they may be deemed to be the beneficial owners of shares deemed to
    be beneficially owned by such entity. Each of Prides Capital Partners, L.L.C.,
    Prides Capital Fund I, L.P, Kevin A. Richardson, II, Murray A. Indick, Henry
    J. Lawlor, Jr. and Charles E. McCarthy disclaim beneficial ownership of these
    shares, except to the extent of any pecuniary interest therein.</FONT></P>  </TD>
</TR>

<TR><TD colspan=3>&nbsp;</TD></TR><TR>
  <TD nowrap valign=top>
<FONT size=2 face="serif">(11)</FONT></TD>
  <TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">Based upon information set forth in Schedule 13G/A filed by Irving Hershkowitz with the SEC on or about August 15, 2007.</FONT></P>  </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
  <TD nowrap valign=top>
<FONT size=2 face="serif">(12)</FONT></TD>
  <TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">Includes 105,000 shares issuable pursuant to stock options exercisable within 60 days after the date of this Proxy Statement.</FONT></P>  </TD>
</TR>
</TABLE>
<P align="center">
<B><FONT size=2 face="serif">SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE</FONT></B></P>
<P align="left">
<FONT size=2 face="serif">Section 16(a) of the Securities Exchange Act of 1934, as amended, requires the Company&#146;s officers and directors, and persons who own more than ten percent of a registered class of the Company&#146;s equity securities
to file reports of ownership and changes in ownership on Forms 3, 4 and 5 with the Securities and Exchange Commission (the &#147;Commission&#148;) and the NASDAQ Global Market. Officers, directors and greater than ten percent shareholders are
required by the Commission&#146;s regulations to furnish the Company with copies of all Forms 3, 4 and 5 they file.</FONT></P>

<P align="left">
<FONT size=2 face="serif">Based solely on the Company&#146;s review of the copies of such forms it has received, the Company believes that all of its officers,
directors and greater than ten percent beneficial owners complied with all filing requirements applicable to them with respect to transactions during fiscal 2007, although a late Form 4 relating to four transactions by Mr. Stewart in prior fiscal
years was filed in January 2008. </FONT></P>
<P align="center">
<FONT size=2 face="serif">17</FONT></P>

<HR noshade width="100%" size=4>



<P STYLE="page-break-before:always"></P><PAGE>


<P align="center">
<B><FONT size=2 face="serif">CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS</FONT></B></P>
<P align="left">
<FONT size=2 face="serif">In prior years, the Company made loans to Robert Towers. During fiscal 2007, the largest amount of indebtedness outstanding at any one time with respect to these loans to Mr. Towers was &#36;204,000. At January 18, 2008,
Mr. Towers was indebted to the Company in the amount of &#36;124,000 with respect to the loans made to him in connection with the exercise of stock options and &#36;37,000 with respect to certain other executive loans. The loans made to him in
connection with the exercise of stock options are repayable on demand and bear interest at prime plus one-half percent. The other executive loans are payable on demand and bear interest at the minimum statutory rate.</FONT></P>
<P align="center">
<B><FONT size=2 face="serif">ADDITIONAL INFORMATION</FONT></B></P>
<P align="left">
<B><I><FONT size=2 face="serif">&#147;Householding&#148; of Proxy Materials</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">The SEC has adopted rules that permit companies and intermediaries such as brokers to satisfy delivery requirements for proxy statements and annual reports with respect to two or more shareholders sharing the same address
by delivering a single proxy statement and annual report addressed to those shareholders. This process, which is commonly referred to as &#147;householding,&#148; potentially provides extra convenience for shareholders and cost savings for
companies. The Company and some brokers household proxy materials, delivering a single proxy statement and annual report to multiple shareholders sharing an address unless contrary instructions have been received from the affected
shareholders.</FONT></P>
<P align="left">
<FONT size=2 face="serif">Once you have received notice from your broker or us that each of us will be householding materials to your address, householding will continue until you are notified otherwise or until you revoke your consent. If, at any
time, you no longer wish to participate in householding and would prefer to receive a separate proxy statement and annual report, or if you are receiving multiple copies of the proxy statement and annual report and wish to receive only one, please
notify your broker if your shares are held in a brokerage account or the Company if you hold registered shares. You can notify us by sending a written request to Ark Restaurants Corp., Attention Treasurer, 85 Fifth Avenue, New York, NY
10003.</FONT></P>
<P align="left">
<B><I><FONT size=2 face="serif">Annual Report</FONT></I></B></P>
<P align="left">
<FONT size=2 face="serif">This proxy solicitation material has been mailed with the annual report to shareholders for the fiscal year ended September 29, 2007; however, it is not intended that the annual report be a part of the proxy statement or
this solicitation of proxies.</FONT></P>
<P align="left">
<FONT size=2 face="serif">Shareholders are respectfully urged to complete, sign, date and return the accompanying form of proxy in the enclosed envelope.</FONT></P>
<DIV>&nbsp;</DIV>
<div style="margin-left:60%">
  <p align="left"><font size=2 face="serif">A</font><font size=1 face="serif">RK </font><font size=2 face="serif">R</font><font size=1 face="serif">ESTAURANTS </font><font size=2 face="serif">C</font><font size=1 face="serif">ORP</font><font size=2 face="serif">. </font><br>
      <br>
      <font size=2 face="serif">By Order of the Board of Directors,</font><br>
      <br>
      <font size=2 face="serif">Michael P. Buck </font><br>
      <i><font size=2 face="serif">Secretary and General Counsel</font></i></p>
</div>
<P align="left"><FONT size=2 face="serif">New York, New York</FONT><BR>
<FONT size=2 face="serif">February 11, 2008 </FONT></P>
<P align="center">&nbsp;</P>
<P align="center"><FONT size=2 face="serif">18</FONT></P>
<HR noshade width="100%" size=4>



<P STYLE="page-break-before:always"></P><PAGE>


<P align="center">
<B><FONT size=2 face="serif">ARK RESTAURANTS CORP. </FONT></B><BR>
<BR>
<B><FONT size=2 face="serif">Proxy Solicited by the Board of Directors</FONT></B><BR>
<B><FONT size=2 face="serif">for the Annual Meeting of Shareholders </FONT></B></P>
<P align="center">
<B><FONT size=2 face="serif">March 25, 2008</FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">THE UNDERSIGNED, revoking all previous proxies, hereby appoints MICHAEL WEINSTEIN, ROBERT TOWERS and VINCENT PASCAL, or any of them as attorneys, agents and proxies with power of substitution,
and with all powers the undersigned would possess if personally present, to vote all shares of Common Stock of ARK RESTAURANTS CORP. (the &#147;Company&#148;) which the undersigned is entitled to vote at the Annual Meeting of Shareholders of the
Company to be held on March 25, 2008 at 10:00 A.M. local time at Bryant Park Grill, located at 25 West 40th Street, New York, New York, and at all adjournments thereof.</FONT></P>
<TABLE border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap><font size=2 face=WINGDINGS>o</font> </TD>
  <TD align=left nowrap><div style="border-bottom:1px solid #000000"> &nbsp;</div></TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap><div style="border-bottom:1px solid #000000;">&nbsp;</div></TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">ACCOUNT NUMBER&nbsp;&nbsp;</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">COMMON</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR>
  <TD colspan=6>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<FONT size=2 face="serif">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>  </TD>
  <TD align=left nowrap colspan=3>
<FONT size=2 face="serif">ELECTION OF A BOARD OF NINE DIRECTORS</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
  <TD align=left nowrap>
<FONT size=2 face="serif">WITHHOLD</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
 &nbsp;<U><FONT size=2 face="serif">NOMINEE</FONT></U>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp;<U><FONT size=2 face="serif">VOTE FOR</FONT></U>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<U><FONT size=2 face="serif">AUTHORITY TO VOTE FOR</FONT></U>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
 &nbsp;<FONT size=2 face="serif">Michael Weinstein</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp;<font size=2 face=WINGDINGS>o</font></TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap><font size=2 face=WINGDINGS>o</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
 &nbsp;<FONT size=2 face="serif">Steven Shulman</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<font size=2 face=WINGDINGS>o</font></TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap><font size=2 face=WINGDINGS>o</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
 &nbsp;<FONT size=2 face="serif">Robert Towers</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<font size=2 face=WINGDINGS>o</font></TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap><font size=2 face=WINGDINGS>o</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
 &nbsp;<FONT size=2 face="serif">Marcia Allen</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<font size=2 face=WINGDINGS>o</font></TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap><font size=2 face=WINGDINGS>o</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
 &nbsp;<FONT size=2 face="serif">Paul Gordon</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<font size=2 face=WINGDINGS>o</font></TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap><font size=2 face=WINGDINGS>o</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
 &nbsp;<FONT size=2 face="serif">Bruce R. Lewin</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<font size=2 face=WINGDINGS>o</font></TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap><font size=2 face=WINGDINGS>o</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
 &nbsp;<FONT size=2 face="serif">Vincent Pascal</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<font size=2 face=WINGDINGS>o</font></TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap><font size=2 face=WINGDINGS>o</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
 &nbsp;<FONT size=2 face="serif">Arthur Stainman</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<font size=2 face=WINGDINGS>o</font></TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap><font size=2 face=WINGDINGS>o</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>
 &nbsp;<FONT size=2 face="serif">Stephen Novick</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<font size=2 face=WINGDINGS>o</font></TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap><font size=2 face=WINGDINGS>o</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
</TR>
</TABLE>
<BR>
<P align="right"><FONT size=2 face="serif">(</FONT><I><FONT size=2 face="serif">See
reverse side</FONT></I><FONT size=2 face="serif">)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT> </P>
<P align="center"><FONT face="serif">1</FONT></P>
<HR noshade width="100%" size=4>



<P STYLE="page-break-before:always"></P><PAGE>



<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="2%"><FONT size=2 face="serif">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></td>
    <td width="98%"><FONT size=2 face="serif"> Ratification of the appointment of J.H. Cohn
    LLP as independent auditors for the 2008 fiscal year. </FONT></td>
  </tr>
</table>
<div align="center">
  <TABLE border=0 cellpadding=0 cellspacing=0>
    <TR valign="bottom">
      <TD align=left nowrap>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=left nowrap>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=left nowrap>&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align=left nowrap>
      <FONT size=2 face="serif">FOR </FONT><font size=2 face=WINGDINGS>o</font> </TD>
      <TD nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
      <TD align=left nowrap>
      <FONT size=2 face="serif">AGAINST </FONT><font size=2 face=WINGDINGS>o</font></TD>
      <TD nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
      <TD align=left nowrap>
      <FONT size=2 face="serif">ABSTAIN </FONT><font size=2 face=WINGDINGS>o</font></TD>
    </TR>
    <TR valign="bottom">
      <TD align=left nowrap>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=left nowrap>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align=left nowrap>&nbsp;</TD>
    </TR>
  </TABLE>
</div>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
  <TD width="2%" valign=top nowrap>
<FONT size=2 face="serif">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
  <TD width="98%">
<P align="left"><FONT size=2 face="serif">In their discretion, the Proxies are authorized to vote upon such other business as may properly come before the meeting.</FONT></P>  </TD>
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<B><FONT size=2 face="serif">THE SHARES REPRESENTED BY THIS PROXY WILL BE VOTED IN ACCORDANCE WITH THE INSTRUCTIONS GIVEN.  IF NO SUCH INSTRUCTIONS ARE GIVEN, THE SHARES REPRESENTED BY THIS PROXY WILL BE VOTED IN FAVOR OF THE: (I) ELECTION OF THE
NOMINEES FOR DIRECTORS DESIGNATED BY THE BOARD OF DIRECTORS; AND (II) RATIFICATION OF THE APPOINTMENT OF J.H. COHN LLP AS INDEPENDENT AUDITORS FOR THE 2008 FISCAL YEAR. </FONT></B></P>
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        <FONT size=2 face="serif">Dated: ___________________________, 2008</FONT>      </TD>
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      <TD>&nbsp;      </TD>
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      <TD><div style="border-bottom:1px solid #000000"> &nbsp;</div></TD>
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        &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">(</FONT><B><FONT size=2 face="serif">Signature)</FONT></B>      </TD>
    </TR>
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      <TD>&nbsp;      </TD>
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      <TD><div style="border-bottom:1px solid #000000"> &nbsp;</div></TD>
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      <TD align=left width=100% nowrap>
        &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">(</FONT><B><FONT size=2 face="serif">Signature)</FONT></B>      </TD>
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      <TD>&nbsp;      </TD>
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        <B><FONT size=2 face="serif">NOTE</FONT></B><FONT size=2 face="serif">: Please sign exactly as your name or</FONT>      </TD>
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        <FONT size=2 face="serif">names appear hereon. Joint owners should each</FONT>      </TD>
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      <TD align=left width=100% nowrap>
        <FONT size=2 face="serif">sign personally. When signing as executor,</FONT>      </TD>
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      <TD align=left width=100% nowrap>
        <FONT size=2 face="serif">administrator, corporation, officer, attorney,</FONT>      </TD>
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      <TD align=left width=100% nowrap>
        <FONT size=2 face="serif">agent, trustee or guardian, etc., please add your</FONT>      </TD>
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      <TD align=left width=100% nowrap>
        <FONT size=2 face="serif">full title to your signature.</FONT>      </TD>
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<B><FONT size=2 face="serif">NOTE</FONT></B><FONT size=2 face="serif">: PLEASE COMPLETE, DATE, SIGN AND MAIL THIS PROXY IN THE ENVELOPE ENCLOSED FOR THIS PURPOSE. NO POSTAGE IS REQUIRED FOR MAILING IN THE UNITED STATES. </FONT></P>
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<P align="left">&nbsp;</P>
<P align="center"><FONT face="serif">2 </FONT></P>
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