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<SEC-DOCUMENT>0000930413-09-002626.txt : 20090512
<SEC-HEADER>0000930413-09-002626.hdr.sgml : 20090512
<ACCEPTANCE-DATETIME>20090512141650
ACCESSION NUMBER:		0000930413-09-002626
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20090328
FILED AS OF DATE:		20090512
DATE AS OF CHANGE:		20090512

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:		10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09453
		FILM NUMBER:		09818213

	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>10-Q
<SEQUENCE>1
<FILENAME>c57577_10q.htm
<TEXT>

<HTML>
<HEAD>
   <TITLE>c57577_10q.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">
<BR>

<P align="center">
<FONT size=2 face="serif">SECURITIES AND EXCHANGE COMMISSION </FONT><BR>
<FONT size=2 face="serif">Washington, D.C. 20549 </FONT><BR>
<BR>
<B><FONT size=2 face="serif">____________________ </FONT></B><BR>
<BR>
<FONT size=2 face="serif">FORM 10-Q </FONT></P>
<P align="center">
<FONT size=2 face="serif">QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)</FONT><BR>
<FONT size=2 face="serif">OF THE SECURITIES EXCHANGE ACT OF 1934 </FONT></P>
<P align="center">
<FONT size=2 face="serif">For the quarterly period ended March 28, 2009</FONT></P>
<P align="center">
<FONT size=2 face="serif">Commission file number 0-14030</FONT></P>
<P align="center">
<B><U><FONT size=2 face="serif">ARK RESTAURANTS CORP.</FONT></U></B><B></B><BR>
<FONT size=2 face="serif">(Exact name of registrant as specified in its charter)</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD width="22%" align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">New York</FONT>	</TD>
	<TD width="61%" align="center">&nbsp;	</TD>
	<TD width="17%" align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">13-3156768</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=center nowrap>
 &nbsp;<FONT size=2 face="serif">(State or other jurisdiction of</FONT>	</TD>
	<TD align="center">&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=2 face="serif">(I.R.S. Employer</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=center nowrap><FONT size=2 face="serif">incorporation or organization)</FONT>	</TD>
	<TD align="center">&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=2 face="serif">Identification No.)</FONT>	</TD>
</TR>
<TR>
	<TD colspan=3>&nbsp;

	</TD>
</TR>
<TR>
	<TD colspan=3>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">85 Fifth Avenue, New York, New York</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">10003</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=center nowrap>
<FONT size=2 face="serif">(Address of principal executive offices)</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap><FONT size=2 face="serif">(Zip Code)</FONT>	</TD>
</TR>
</TABLE><BR>
<P align="left">
<FONT size=2 face="serif">Registrant&#146;s telephone number, including area code: <u>&nbsp;&nbsp;(212) 206-8800&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P>
<P align="left">
<FONT size=2 face="serif">Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for shorter period that the
registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.<br>
</FONT><FONT size=2 face="serif">Yes <u>&nbsp;X&nbsp;</u> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
No
_____</FONT></P>
<P align="left">
<FONT size=2 face="serif">Indicate by check mark whether the Registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T
(&#167; 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit and post such files).<br>
</FONT><FONT size=2 face="serif">Yes ____&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
No
_____<BR>
</FONT></P>
<P align="left">
<FONT size=2 face="serif">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definitions of &#147;large accelerated filer,&#148;
&#147;accelerated filer&#148; and &#147;smaller reporting company&#148; in Rule 12b-2 of the Exchange Act. </FONT><FONT face="serif"> </FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD width=44% align=left nowrap>
<FONT size=2 face="serif">Large accelerated filer
_____</FONT>	</TD>
	<TD width=6%>&nbsp;	</TD>
	<TD width=47% align=left nowrap>
<FONT size=2 face="serif">Accelerated filer
_____</FONT>	</TD>
	<TD width=3%>&nbsp;	</TD>
  </TR>
<TR>
	<TD colspan=4>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Non-accelerated filer
_____</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">Smaller Reporting Company</FONT>	<FONT size=2 face="serif"> <u>&nbsp;&nbsp;X&nbsp;&nbsp;</u></FONT></TD>
	<TD>&nbsp;	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">(Do not check if a smaller</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">reporting company)</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
  </TR>
</TABLE>
<BR>
<P align="left">
<FONT size=2 face="serif">Indicate by check mark whether the Registrant is a
shell company (as defined in Exchange Act Rule 12b-2). Yes ____&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No <u>&nbsp;X&nbsp;</u></FONT></P>
<P align="left">
<FONT size=2 face="serif">Indicate the number of shares outstanding of each of the issuer&#146;s classes of common stock, as of the latest practicable date:</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD width="14%" align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">Class</FONT>	</TD>
	<TD width="60%">&nbsp;	</TD>
	<TD width="26%" align=center nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">Outstanding shares at May 6, 2009</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=center nowrap>
<FONT size=2 face="serif">(Common stock, &#36;.01 par value)</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=2 face="serif">3,489,845</FONT>	</TD>
</TR>
<TR>
	<TD colspan=3>&nbsp;	</TD>
</TR>
</TABLE>
<p align="center"><FONT size=2 face="serif">-1-</FONT><BR>
</p>
<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE>
<BR>

<P align="center">
<U><FONT size=2 face="serif">SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</FONT></U></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">We
may make statements in this Quarterly Report on Form 10-Q </FONT><FONT size=2 face="serif">regarding
our assumptions, projections, expectations, targets,  intentions or beliefs about
future events. All statements, other than statements of historical facts, included
or incorporated by reference herein relating to management&#146;s current expectations
of future financial performance, continued growth  and changes in economic conditions
or capital markets are forward looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Words or phrases such as &#147;anticipates,&#148; &#147;believes,&#148; &#147;estimates,&#148; &#147;expects,&#148; &#147;intends,&#148; &#147;plans,&#148; &#147;predicts,&#148;
&#147;projects,&#148; &#147;targets,&#148; &#147;will likely result,&#148; &#147;hopes,&#148; &#147;will continue&#148; or similar expressions identify forward looking statements. Forward-looking statements involve risks and uncertainties which
could cause actual results or outcomes to differ materially from those expressed. We caution that while we make such statements in good faith and we believe such statements are based on reasonable assumptions, including without limitation,
management&#146;s examination of historical operating trends, data contained in records and other data available from third parties, we cannot assure you that our projections will be achieved. Factors that may cause such differences include:
economic conditions generally and in each of the markets in which we are located, the amount of sales contributed by new and existing restaurants, labor costs for our personnel, fluctuations in the cost of food products, adverse weather conditions,
changes in consumer preferences and the level of competition from existing or new competitors. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">We have attempted to identify, in context, certain of the factors that we believe may cause actual future experience and results to differ materially from our current expectation regarding the
relevant matter of subject area. In addition to the items specifically discussed above, our business, results of operations and financial position and your investment in our common stock are subject to the risks and uncertainties described in
&#147;Item 1A Risk Factors&#148; in Part I of our Annual Report on Form 10-K for the fiscal year ended September 27, 2008 as updated by the information contained under the caption &#147;Item 1A. Risk Factors&#148; in Part II of this Quarterly Report
on Form 10-Q. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">From time to time, oral or written forward-looking statements are also included in our reports on Forms 10-K, 10-Q and 8-K, our Schedule 14A, our press releases and other materials released to
the public. Although we believe that at the time made, the expectations reflected in all of these forward-looking statements are and will be reasonable, any or all of the forward-looking statements in this Quarterly Report on Form 10-Q, our reports
on Forms 10-K and 8-K, our Schedule 14A and any other public statements that are made by us may prove to be incorrect. This may occur as a result of inaccurate assumptions or as a consequence of known or unknown risks and uncertainties. Many factors
discussed in this Quarterly Report on Form 10-Q, certain of which are beyond our control, will be important in determining our future performance. Consequently, actual results may differ materially from those that might be anticipated from
forward-looking statements. In light of these and other uncertainties, you should not regard the inclusion of a forward-looking statement in this Quarterly Report on Form 10-Q or other public communications that we might make as a representation by
us that our plans and objectives will be achieved, and you should not place undue reliance on such forward-looking statements. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. However, your attention is directed
to any further disclosures made on related subjects in our subsequent periodic reports filed with the Securities and Exchange Commission on Forms 10-K, 10-Q and 8-K and Schedule 14A. </FONT></P>
<P align="left">
<FONT size=2 face="serif"> Unless the context requires otherwise, references to &#147;we,&#148; &#147;us,&#148; &#147;our,&#148; &#147;ARKR&#148; and the &#147;Company&#148; refer specifically to Ark Restaurants Corp. and its subsidiaries and
predecessor entities. </FONT></P>
<P align="center">
<FONT size=2 face="serif">-2-</FONT></P>

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



<P align="left" style="page-break-before:always"></P><PAGE>
<BR>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><B><FONT size=2 face="serif">ARK RESTAURANTS
          CORP. AND SUBSIDIARIES</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><B><FONT size=2 face="serif">CONSOLIDATED
          CONDENSED BALANCE SHEETS</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(In
        Thousands)</FONT> </TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=9>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">March 28,</FONT> </TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">September 27,</FONT> </TD>
    <TD align=center nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">2009</FONT> </TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">2008</FONT> </TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">(unaudited)</FONT> </TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">(Note 1)</FONT> </TD>
    <TD align=center nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><U><FONT size=2 face="serif">ASSETS</FONT></U> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">CURRENT ASSETS:</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Cash
        and cash equivalents</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,790</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,978</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Short-term
        investments in available-for-sale securities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">5,624</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">9,267</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Accounts
        receivable</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,693</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,862</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Related
        party receivables, net</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">584</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">881</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Employee
        receivables</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">327</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">281</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Current
        portion of long-term receivables</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">125</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">121</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Inventories</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,579</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,556</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Prepaid
        income taxes</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,498</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Prepaid
        expenses and other current assets</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">430</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">362</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Total
        current assets</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">14,650</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">18,308</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">LONG-TERM RECEIVABLES,
        LESS CURRENT PORTION</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">167</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">231</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">FIXED ASSETS
        - At cost:</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Leasehold
        improvements</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">31,619</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">31,533</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Furniture,
        fixtures and equipment</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">28,985</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">28,372</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Construction
        in progress</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">419</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">44</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">61,023</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">59,949</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Less
        accumulated depreciation and amortization</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">36,848</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">35,087</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">FIXED ASSETS
        - Net</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">24,175</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">24,862</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">INTANGIBLE ASSETS
        - Net</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">54</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">62</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">GOODWILL</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">4,813</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">4,813</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">TRADEMARKS</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">721</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">721</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">DEFERRED INCOME
        TAXES</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">4,312</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">4,312</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">OTHER ASSETS</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">682</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">701</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">TOTAL</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">49,574</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">54,010</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=9>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><U><FONT size=2 face="serif">LIABILITIES
          AND SHAREHOLDERS' EQUITY</FONT></U> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">CURRENT LIABILITIES:</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Accounts
        payable - trade</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,055</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,834</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Accrued
        expenses and other current liabilities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">4,735</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">5,312</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Accrued
        income taxes</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">823</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Current
        portion of note payable</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">201</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">195</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Total
        current liabilities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">6,991</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">9,164</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">OPERATING LEASE
        DEFERRED CREDIT</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">3,652</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">3,695</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">NOTE PAYABLE,
        LESS CURRENT PORTION</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">408</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">510</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">OTHER LIABILITIES</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">120</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">157</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">TOTAL LIABILITIES</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">11,171</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">13,526</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">NON-CONTROLLING
        INTERESTS</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">2,320</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">2,681</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">COMMITMENTS AND
        CONTINGENCIES</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">SHAREHOLDERS'
        EQUITY:</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Common
        stock, par value &#36;.01 per share - authorized, 10,000 shares; issued</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">and
        outstanding of 5,667 and 3,490 shares at March 28, 2009, respectively</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">and
        5,667 and 3,532 shares at September 27, 2008, respectively</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">57</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">57</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Additional
        paid-in capital</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">22,224</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">22,068</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Accumulated
        other comprehensive loss</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(34</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(30</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Retained
        earnings</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">24,007</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">25,427</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">46,254</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">47,522</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Less
        stock option receivable</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(76</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(124</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Less
        treasury stock, at cost, of 2,177 and 2,135 shares at March 28, 2009</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">and
        September 27, 2008, respectively</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(10,095</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(9,595</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">)</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Total
        shareholders' equity</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">36,083</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">37,803</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">TOTAL</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">49,574</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">54,010</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
  </TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="serif">See notes to consolidated condensed financial statements.</FONT></P>
<P align="center"><FONT size=2 face="serif">-3-</FONT></P>

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



<P align="left" style="page-break-before:always"></P><PAGE>
<BR>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><B><FONT size=2 face="serif">ARK RESTAURANTS
          CORP. AND SUBSIDIARIES</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap colspan=3><B><FONT size=2 face="serif">CONSOLIDATED
          CONDENSED STATEMENTS OF OPERATIONS (Unaudited)</FONT></B> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(In
        Thousands, Except Per Share Amounts)</FONT> </TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=17>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap colspan=5 style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">13
        Weeks Ended</FONT> </TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap colspan=5 style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">26
        Weeks Ended</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap colspan=2><FONT size=2 face="serif">March 28,</FONT> </TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">March 29,</FONT> </TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">March 28,</FONT> </TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">March 29,</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap colspan=2 style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">2009</FONT> </TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">2008</FONT> </TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">2009</FONT> </TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">2008</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=17>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=17>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">REVENUES</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Food and
        beverage sales</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;23,158</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">23,750</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">49,377</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">53,417</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Other income</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">598</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">619</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">1,172</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">1,270</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Total
        revenues</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">23,756</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">24,369</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">50,549</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">54,687</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=17>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">COST AND EXPENSES:</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Food and
        beverage cost of sales</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">6,087</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">6,425</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">12,798</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">14,160</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Payroll
        expenses</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">8,118</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">8,357</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">17,042</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">17,897</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Occupancy
        expenses</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">3,737</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">3,545</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">7,530</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">7,564</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Other operating
        costs and expenses</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">3,860</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">3,061</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">7,846</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">7,146</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">General
        and administrative expenses</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,552</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,183</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">4,639</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">4,334</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Depreciation
        and amortization</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">863</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">705</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">1,770</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">1,382</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Total
        cost and expenses</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">25,217</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">24,276</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">51,625</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">52,483</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">OPERATING INCOME
        (LOSS)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(1,461</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">93</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(1,076</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">2,204</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">OTHER (INCOME)
        EXPENSE:</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Interest
        expense</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">11</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">14</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">23</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">30</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Interest
        income</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(23</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(148</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(227</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(293</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Other income,
        net</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(28</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(44</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(387</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(163</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">)</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Total
        other income, net</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(40</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(178</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(591</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(426</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">)</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">Income (loss)
        from continuing operations before provision (benefit) for</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">income
        taxes and non-controlling interests</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(1,421</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">271</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(485</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,630</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">Provision (benefit)
        for income taxes</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(584</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">85</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(260</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">937</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">Loss attributable
        to non-controlling interests</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">125</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">-</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">361</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">1</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">INCOME (LOSS)
        FROM CONTINUING OPERATIONS</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(712</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">186</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">136</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">1,694</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">DISCONTINUED
        OPERATIONS:</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Income
        from operations of discontinued restaurants</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">248</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">211</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Provision
        for income taxes</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">-</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">88</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">-</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">75</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">INCOME FROM DISCONTINUED
        OPERATIONS</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">-</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">160</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">-</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">136</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">NET INCOME (LOSS)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">(712</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">346</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">136</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">1,830</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=17>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">PER SHARE INFORMATION
        - BASIC AND DILUTED:</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">Income (loss)
        from continuing operations</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">(0.20</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">0.05</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">0.04</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">0.47</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">Discontinued
        operations</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">-</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">0.05</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">-</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">0.04</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">BASIC</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">(0.20</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">0.10</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">0.04</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">0.51</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=17>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">Income (loss)
        from continuing operations</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">(0.20</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">0.05</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">0.04</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">0.46</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">Discontinued
        operations</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">-</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">0.05</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">-</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">0.04</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">DILUTED</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">(0.20</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">0.10</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">0.04</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">0.50</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=17>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">WEIGHTED AVERAGE
        NUMBER OF SHARES - BASIC</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">3,490</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">3,597</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">3,497</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">3,597</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=17>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">WEIGHTED AVERAGE
        NUMBER OF SHARES - DILUTED</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">3,490</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">3,609</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">3,497</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">3,625</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
  </TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="serif">See notes to consolidated condensed financial statements.</FONT></P>
<P align="center"><FONT size=2 face="serif">-4-</FONT></P>

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



<P align="left" style="page-break-before:always"></P><PAGE>
<BR>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><B><FONT size=2 face="serif">ARK RESTAURANTS
          CORP. AND SUBSIDIARIES</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><B><FONT size=2 face="serif">CONSOLIDATED
          CONDENSED STATEMENTS OF CASH FLOWS (Unaudited)</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(In
        Thousands)</FONT> </TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=9>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap colspan=5 style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">26
        Weeks Ended</FONT> </TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">March 28,</FONT> </TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">March 29,</font></TD>
    <TD align=center nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">2009</FONT> </TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">2008</FONT> </TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=9>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=9>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">CASH FLOWS FROM
        OPERATING ACTIVITIES:</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Net income</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">136</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,830</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Adjustments
        to reconcile net income to net cash provided by (used in) operating activities:</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Deferred
        income taxes</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(27</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Stock-based
        compensation</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">156</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">156</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Depreciation
        and amortization</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,770</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,422</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Equity
        in loss of affiliate</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">23</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Loss
        attributable to non-controlling interests</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(361</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(1</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Operating
        lease deferred credit</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(43</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(28</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Changes
        in operating assets and liabilities:</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Accounts
        receivable</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">169</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(423</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Related
        party receivables</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">297</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">317</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Employee
        receivables</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(46</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">26</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Inventories</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(23</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(106</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Prepaid
        income taxes</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(1,498</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Prepaid
        expenses and other current assets</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(68</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(29</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Other
        assets</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(4</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(414</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Accounts
        payable - trade</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(779</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">237</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Accrued
        income taxes</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(823</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(1,021</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Accrued
        expenses and other current liabilities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(577</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(441</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">)</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Net
        cash provided by (used in) continuing operating activities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(1,671</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,498</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Net
        cash provided by (used in) discontinued operating activities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(37</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">54</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Net
        cash provided by (used in) operating activities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(1,708</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">1,552</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">CASH FLOWS FROM
        INVESTING ACTIVITIES:</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Purchases
        of fixed assets</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(1,075</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(3,659</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Proceeds
        from sale of discontinued operations</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=center nowrap><div align="right"><FONT size=2 face="serif">-</FONT> </div></TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,030</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Purchases
        of investment securities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(3,704</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(7,584</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Proceeds
        from sales of investment securities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">7,343</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">10,181</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Payments
        received on long-term receivables</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">60</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">56</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Net
        cash provided by continuing investing activities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,624</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">24</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Net
        cash provided by discontinued investing activities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">-</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">161</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Net
        cash provided by investing activities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">2,624</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">185</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=9>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">CASH FLOWS FROM
        FINANCING ACTIVITIES:</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Principal
        payments on note payable</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(96</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(88</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Dividends
        paid</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(1,556</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(3,166</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Purchase
        of treasury stock</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(500</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Payments
        received on stock option receivable</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">48</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">42</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Net
        cash used in financing activities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(2,104</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(3,212</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">)</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">NET DECREASE
        IN CASH AND CASH EQUIVALENTS</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(1,188</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(1,475</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">CASH AND CASH
        EQUIVALENTS, Beginning of period</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">2,978</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">4,009</FONT> </TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">CASH AND CASH
        EQUIVALENTS, End of period</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">1,790</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">2,534</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=9>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">SUPPLEMENTAL
        DISCLOSURES OF CASH FLOW INFORMATION:</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;<FONT size=2 face="serif">Cash paid
        during the period for:</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Interest</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">23</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">30</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Income
        taxes</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">1,416</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">2,052</FONT> </TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
  </TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="serif">See notes to consolidated condensed financial statements. </FONT></P>
<P align="center"><FONT size=2 face="serif">-5-</FONT></P>

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<BR>

<P align="left">
<B><U><FONT size=2 face="serif">ARK RESTAURANTS CORP. AND SUBSIDIARIES</FONT></U></B></P>
<P align="left">
<B><FONT size=2 face="serif">NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS<br>
</FONT></B><FONT size=2 face="serif">March 28, 2009 </FONT></P>
<P align="left">
<U><FONT size=2 face="serif">(Unaudited)</FONT></U></P>
<P align="left">
<B><FONT size=2 face="serif">1. CONSOLIDATED CONDENSED FINANCIAL STATEMENTS </FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif"> The consolidated condensed balance sheet as of March 28, 2009, which has been derived from audited financial statements included in the Form 10-K, and the unaudited interim consolidated and condensed financial statements
have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to form 10-Q and Article 10 of Regulation S-X. All adjustments that, in the
opinion of management, are necessary for a fair presentation for the periods presented have been reflected as required by Regulation S-X, Rule 10-01. Such adjustments are of a normal, recurring nature.  Accordingly, certain information and footnote
disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These consolidated condensed financial statements should be
read in conjunction with the consolidated financial statements and notes thereto included in the Company&#146;s annual report on Form 10-K for the year ended September 27, 2008.  The results of operations for interim periods are not necessarily
indicative of the operating results to be expected for the full year. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif"> PRINCIPLES OF CONSOLIDATION &#150; The consolidated interim financial statements include the accounts of the Company and all of its wholly-owned subsidiaries, partnerships and other entities in which it has a controlling
interest. Also included in the consolidated interim financial statements are certain variable interest entities, as discussed below. All significant intercompany balances and transactions have been eliminated in consolidation. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">RECLASSIFICATIONS &#150; Certain reclassifications of prior year balances have been made to conform to the current year presentation. In connection with the planned or actual sale or closure of
various restaurants, the operations of these businesses have been presented as discontinued operations in the consolidated financial statements. Accordingly, the Company has reclassified its statements of operations and cash flow data for the prior
periods presented, in accordance with Statement of Financial Accounting Standards (&#147;SFAS&#148;) No. 144, &#147;Accounting for the Impairment or Disposal of Long-Lived Assets&#148; (&#147;SFAS 144&#148;). These dispositions are discussed below
in &#147;Recent Restaurant Dispositions.&#148; </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">CONSOLIDATION OF VARIABLE INTEREST ENTITIES &#151; Effective October 1, 2006, the Company determined that one of its managed restaurants, El Rio Grande (&#147;Rio&#148;), should be presented on
a consolidated basis in accordance with the Emerging Issues Task Force No. 04-5, &#147;Determining Whether a General Partner, or the General Partners as a Group, Controls a Limited Partnership or Similar Entity When the Limited Partners Have Certain
Rights&#148; (&#147;EITF 04-5&#148;), and as a result included Rio in its consolidated financial statements. The impact of such consolidation was not material to the Company&#146;s condensed consolidated financial position or results of operations
for any period presented. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">CASH AND CASH EQUIVALENTS &#151; Cash and cash equivalents, which primarily consist of money market funds, are stated at cost, which approximates fair value. For financial statement
presentation purposes, the Company considers all highly liquid investments having original maturities of three months or less to be cash equivalents. Outstanding checks in excess of account balances, typically vendor payments, payroll and other
contractual obligations disbursed on or near the last day of a reporting period are reported as a current liability in the accompanying consolidated balance sheets.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">AVAILABLE-FOR-SALE SECURITIES</FONT><B></B><FONT size=2 face="serif">&#151; Available-for-sale securities consist primarily of US Treasury Bills and Notes, all
of which have a high degree of liquidity and are reported at fair value, with unrealized gains and losses recorded in accumulated other comprehensive income. The cost of investments in available-for-sale securities is determined on a specific
identification basis. Realized gains or losses and declines in value judged to be other than temporary, if any, are reported in other income, net. The Company evaluates its investments periodically for possible impairment and reviews factors such as
the length of time and extent to which fair value has been below cost basis and the Company&#146;s ability and intent to hold the investment for a period of time which may be sufficient for anticipated recovery in market value. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">FAIR VALUE - In September 2006, the Financial Accounting Standards Board (&#147;FASB&#148;) issued SFAS No. 157,</FONT><I><FONT size=2 face="serif"> &#147;Fair Value
Measurements</FONT></I><FONT size=2 face="serif">&#148; (&#147;SFAS 157&#148;), which, among other requirements, eliminated the diversity in practice that exists due to the different definitions of fair value.  SFAS No. 157 retains the exchange
price notion in earlier definitions of fair value, but clarifies that the exchange price is the price in an orderly transaction between market participants to sell an asset or liability in the principal or most advantageous market for the asset or
liability. SFAS No. 157 states that the transaction is hypothetical at the measurement date, considered from the perspective of the market participant who holds the asset or liability. As such, fair value is defined as the price that would be
received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price), as opposed to the price that would be paid to acquire the asset or received to assume the
liability at the measurement date (an entry price). SFAS No. 157 also establishes a three-level hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair
value.</FONT></P>
<P align="center"><FONT size=2 face="serif">-6-</FONT></P>

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<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">In February 2008, the FASB issued FASB Staff Position No. 157-2, effective date of FASB Statement No. 157,</FONT><I></I><FONT size=2 face="serif">which delays
the effective date of SFAS No. 157 for all non-financial assets and non-financial liabilities, except for items that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least annually). The Company adopted
the provisions of SFAS No. 157 on December 27, 2008 and elected the deferral option for non-financial assets and liabilities. The effect of adopting this standard was not significant.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">In October 2008, the FASB issued FASB Staff Position No. 157-3, </FONT><I><FONT size=2 face="serif">&#147;Determining the Fair Value of a Financial Asset When the Market for That Asset Is Not
Active&#148;</FONT></I><FONT size=2 face="serif"> (&#147;FSP No. 157-3&#148;). FSP No. 157-3 applies to financial assets within the scope of accounting pronouncements that require or permit fair value measurements in accordance with SFAS No. 157.
FSP No. 157-3 clarifies the application of SFAS No. 157 in a market that is not active and provides an example to illustrate key conditions in determining the fair value of a financial asset when the market for that financial asset is not active.
FSP No. 157-3 became effective upon issuance including prior periods for which financial statements have not been issued. The Company&#146;s adopted the provisions of FSP No. 157-3 effective December 27, 2008. The effect of adopting this standard
was not significant. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability on the measurement date. The three levels are defined as follows:</FONT></P>
<UL>
<LI>
<P align="left"><FONT size=2 face="serif">Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for an identical asset or liability in an</FONT> <FONT size=2 face="serif">active market.</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Level 2 - inputs to the valuation methodology include quoted prices for a similar asset or liability in an active market</FONT> <FONT size=2 face="serif">or model-derived valuations in which all significant
inputs are observable for substantially the full term of the asset or</FONT> <FONT size=2 face="serif">liability.</FONT></P></LI>
<LI>
<P align="left"><FONT size=2 face="serif">Level 3 - inputs to the valuation methodology are unobservable and significant to the fair value measurement of the</FONT> <FONT size=2 face="serif">asset or liability.</FONT></P></LI>
</UL>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The following table presents assets and liabilities measured at fair value on a recurring basis as of March 28, 2009 by SFAS No. 157 valuation hierarchy: (in thousands)</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Level
          1</FONT></B> </TD>
    <TD align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Level
          2</FONT></B> </TD>
    <TD align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Level
          3</FONT></B> </TD>
    <TD align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"><B><FONT size=2 face="serif">Carrying
          Value</FONT></B> </TD>
  </TR>
  <TR>
    <TD colspan=13>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">Available-for-sale
        securities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">5,624</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">-</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">-</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">5,624</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">Total assets
        at fair value</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">5,624</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">-</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">-</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">5,624</FONT> </TD>
  </TR>
</TABLE>
<BR>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The Company&#146;s available-for-sales securities, which primarily consist of United States Treasury Bills and Notes, are actively traded and the valuation of such securities is based upon
quoted market prices. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The carrying amounts of cash equivalents, investments, receivables, accounts payable, and accrued expenses approximate fair value due to the immediate or short-term maturity of these financial
instruments.  The fair value of notes payable is determined using current applicable rates for similar instruments as of the balance sheet date and approximates the carrying value of such debt. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">In February 2007, the FASB issued SFAS No. 159, </FONT><I><FONT size=2 face="serif">&#147;The Fair Value Option for Financial Assets and Financial Liabilities &#151; Including an amendment of
FASB Statement No. 115&#148;</FONT></I><FONT size=2 face="serif"> (&#147;SFAS No. 159&#148;). Under SFAS No. 159, a company may elect to measure eligible financial assets and financial liabilities at fair value. Unrealized gains and losses on items
for which the fair value option has been elected are reported in earnings at each subsequent reporting date.  If elected, SFAS No. 159 is effective for fiscal years beginning after November 15, 2007. The Company did not elect to begin reporting any
financial assets or liabilities at fair value upon adoption of SFAS No. 159 on September 28, 2008 and we did not elect to report at fair value any new financial assets or liabilities entered during the quarter ended March 28, 2009.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">In
May 2008, the FASB issued SFAS No. 162, </FONT><I><FONT size=2 face="serif">&#147;The
Hierarchy of Generally Accepted Accounting Principles.&#148;</FONT></I><FONT size=2 face="serif"> SFAS
 No. 162 identifies the sources of accounting principles and provides entities
with a framework for selecting the principles used in preparation of financial
statements that are presented in conformity with GAAP. The current GAAP hierarchy
has been  criticized because it is directed to the auditor rather than the entity,
it is complex, and it ranks FASB Statements of Financial Accounting Concepts,
which are subject to the same level of due process as FASB Statements of Financial
Accounting  Standards, below industry practices that are widely recognized as
generally accepted but that are not subject to due process. The Board believes
the GAAP hierarchy should be directed to entities because it is the entity (not
its auditors) that is  responsible for selecting accounting</FONT></P>
<P align="center"><FONT size=2 face="serif">-7-</FONT></P>

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<P align="left">
<FONT size=2 face="serif"> principles for financial statements that are presented
in conformity with GAAP. SFAS No. 162 was effective November 15, 2008. The adoption
of SFAS No. 162 did not have a material impact on our consolidated condensed
financial statements.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">In March 2008, the FASB issued Statement No. 161, &#147;</FONT><I><FONT size=2 face="serif">Disclosures about Derivative Instruments and Hedging Activities &#151; an amendment of FASB Statement
No. 133</FONT></I><FONT size=2 face="serif">&#148; (&#147;SFAS 161&#148;), which requires additional disclosures for derivative instruments and hedging activities. SFAS 161 was effective for the Company beginning December 28, 2008. The Company does
not have any derivative instruments nor has it engaged in any hedging activities.  SFAS 161 had no impact on the Company&#146;s consolidated condensed financial statements. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">RECENT ACCOUNTING DEVELOPMENTS &#151; In December 2007, the FASB issued SFAS No. 141 (Revised), </FONT><I><FONT size=2 face="serif">&#147;Business Combinations&#148;</FONT></I><FONT size=2 face="serif"> (SFAS 141R), which establishes principles and requirements for the reporting entity in a business combination, including recognition and measurement in the financial statements of the identifiable assets acquired, the liabilities
assumed, and any noncontrolling interest in the acquiree.  This statement also establishes disclosure requirements to enable financial statement users to evaluate the nature and financial effects of the business combination.  SFAS 141R applies
prospectively to business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after December 15, 2008. SFAS 141R will become effective for our fiscal year beginning October 4,
2009. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">In December 2007, the FASB issued SFAS No. 160,</FONT><I><FONT size=2 face="serif"> &#147;Noncontrolling Interests in Consolidated Financial Statements&#151;an amendment of ARB&#148; No.
51,</FONT></I><FONT size=2 face="serif"> (&#147;SFAS 160&#148;), which amends Accounting Research Bulletin No. 51,</FONT><I><FONT size=2 face="serif"> &#147;Consolidated Financial Statements&#148;</FONT></I><FONT size=2 face="serif"> (&#147;ARB No.
51&#148;)</FONT><I><FONT size=2 face="serif">,</FONT></I><FONT size=2 face="serif"> to establish accounting and reporting standards for the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary.  This standard defines a
noncontrolling interest, previously referred to as minority interest, as the portion of equity in a subsidiary not attributable, directly or indirectly, to a parent. SFAS 160 requires, among other items, that a noncontrolling interest be included in
the consolidated balance sheet within equity separate from the parent&#146;s equity; consolidated net income to be reported at amounts inclusive of both the parent&#146;s and noncontrolling interest&#146;s shares and, separately, the amounts of
consolidated net income attributable to the parent and noncontrolling interest all on the consolidated statement of income; and if a subsidiary is deconsolidated, any retained noncontrolling equity investment in the former subsidiary be measured at
fair value and a gain or loss be recognized in net income based on such fair value. SFAS 160 is effective for fiscal years beginning after December 15, 2008, which corresponds to the Company&#146;s fiscal year beginning October 4, 2009. The Company
is currently evaluating the potential impact of adopting SFAS 160 on its consolidated financial statements.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">In April 2008, the FASB issued FASB Staff Position 142-3, &#147;</FONT><I><FONT size=2 face="serif">Determination of the Useful Life of Intangible Assets&#148; </FONT></I><FONT size=2 face="serif">(&#147;FSP FAS 142-3&#148;), which amends the list of factors an entity should consider in developing renewal or extension assumptions in determining the useful life of recognized intangible assets under FAS No. 142, Goodwill and Other
Intangible Assets. The new guidance applies to (1) intangible assets that are acquired individually or with a group of other assets and (2) intangible assets acquired in both business combinations and asset acquisitions. Under FSP FAS 142-3,
entities estimating the useful life of a recognized intangible asset must consider their historical experience in renewing or extending similar arrangements or, in the absence of historical experience, must consider assumptions that market
participants would use about renewal or extension. FSP FAS 142-3 is effective for fiscal years beginning after December 15, 2008, which corresponds to the Company&#146;s fiscal year beginning October 4, 2009. The Company is currently evaluating the
impact that the adoption of FSP FAS 142-3 may have on its consolidated financial statements and related disclosures. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">On April 9, 2009 the FASB issued Staff Position (&#147;FSP&#148;) No. 107-1 and APB 28-1 &#147;</FONT><I><FONT size=2 face="serif">Interim Disclosures about Fair Value of Financial
Instruments</FONT></I><FONT size=2 face="serif">&#148;. This FSP shall be effective for interim reporting periods ending after June 15, 2009, with early adoption permitted for periods ending after March 15, 2009. The Company has not elected to early
adopt this pronouncement and is currently evaluating the impact of this pronouncement on its consolidated financial statements. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">On April 9, 2009 the FASB issued Staff Position No. 115-2 and FAS 124-2 &#147;</FONT><I><FONT size=2 face="serif">Recognition and Presentation of
Other-Than-Temporary-Impairments</FONT></I><FONT size=2 face="serif">&#148;. This FSP shall be effective for interim reporting periods ending after June 15, 2009, with early adoption permitted for periods ending after March 15, 2009. The Company has
not elected to early adopt this pronouncement and is currently evaluating the impact of this pronouncement on its consolidated financial statements. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">On April 9, 2009 the FASB issued FSP FAS 157-4 &#147;</FONT><I><FONT size=2 face="serif">Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have
Significantly Decreased and Identifying Transactions That Are Not Orderly</FONT></I><FONT size=2 face="serif">&#148;. This FSP shall be effective for interim reporting periods ending after June 15, 2009, with early adoption permitted for periods
ending after March 15, 2009.  The Company has not elected to early adopt this pronouncement and is currently evaluating the impact of this pronouncement on its consolidated financial statements. </FONT></P>
<P align="left">
<B><FONT size=2 face="serif">2. RECENT RESTAURANT EXPANSION</FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">In 2006, the Company entered into an agreement to lease space for a Mexican restaurant, </FONT><I><FONT size=2 face="serif">Yolos,</FONT></I><FONT size=2 face="serif"> at the Planet Hollywood
Resort and Casino (formerly known as the Aladdin Resort and Casino) in Las Vegas, Nevada. The obligation to pay rent for </FONT><I><FONT size=2 face="serif">Yolos</FONT></I><FONT size=2 face="serif"> commenced when the restaurant opened for business
in January 2008. </FONT></P>
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<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">In June 2007, the Company entered into an agreement to design and lease a food court at the MGM Grand Casino at the Foxwoods Resort Casino which commenced operations during the third fiscal
quarter of 2008. A limited liability company has been established to develop, construct, operate and manage the food court. The Company, through a wholly-owned subsidiary, is the managing member of this limited liability company and has an aggregate
ownership interest in the food court operations of 67% and accordingly such operations have been consolidated. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">In June 2008, the Company signed two successive one-year agreements to use certain deck space adjacent to the </FONT><I><FONT size=2 face="serif">Sequoia </FONT></I><FONT size=2 face="serif">location in New York City as a Caf&eacute;. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">In June 2008, the Company entered into an agreement to design and lease a restaurant at The Museum of Arts &amp; Design at Columbus Circle in New York City. The initial term of the lease for
this facility will expire on December 31 sixteen years after the date the Museum first opens for business to the public following its current refurbishment and will have two five-year renewals. The Company anticipates the restaurant will open during
the third quarter of the 2009 fiscal year. </FONT></P>
<P align="left">
<B><FONT size=2 face="serif">3. RECENT RESTAURANT DISPOSITIONS</FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">During the first fiscal quarter of 2008, we discontinued the operation of our Columbus Bakery retail and wholesale bakery located in New York City. Columbus Bakery was originally intended to
serve as the bakery that would provide all of our New York restaurants with baked goods as well as being a retail bakery operation. As a result of the sale and closure of several of our restaurants in New York City during the last several years,
this bakery operation was no longer profitable. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">During the second fiscal quarter of 2008 we opened, along with certain third party investors, a new concept at this location called &#147;Pinch &amp; S&#146;Mac&#148; which features pizza and
macaroni and cheese. We contributed Columbus Bakery&#146;s net fixed assets and cash into this venture and received an ownership interest of 37.5% .  These operations are not consolidated in the Company&#146;s financial statements. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">  Effective June 30, 2008, the lease for our </FONT><I><FONT size=2 face="serif">Stage Deli</FONT></I><FONT size=2 face="serif"> facility at the Forum Shops in Las Vegas, Nevada expired. The landlord for this facility
offered to renew the lease at this location prior to its expiration at a significantly increased rent. The Company determined that it would not be able to operate this facility profitably at this location at the rent offered in the landlord&#146;s
renewal proposal. As a result, the Company discontinued these operations during the third fiscal quarter of 2008 and took a charge for the impairment of goodwill of &#36;294,000 and a loss on disposal of &#36;19,000.  The impairment charge and
disposal loss are included in discontinued operations. Operations for the 13-week and 26-week periods ended March 29, 2008 have been reclassified as discontinued operations.</FONT></P>
<P align="left">
<B><FONT size=2 face="serif">4. RECEIVABLES FROM EMPLOYEES IN RESPECT OF STOCK OPTION EXERCISES </FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Receivables from employees in respect of stock option exercises includes amounts due from officers and directors totaling &#36;76,000 and &#36;124,000 at March 28, 2009 and September 27, 2008,
respectively. Such amounts, which are due from the exercise of stock options in accordance with the Company&#146;s Stock Option Plan, are payable on demand with interest at &frac12;% above prime (3.25% at March 28, 2009). </FONT></P>
<P align="left">
<B><FONT size=2 face="serif">5. INCOME TAX</FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The income tax provisions on continuing operations for the 26-week periods ended March 28, 2009 and March 29, 2008 reflect effective tax rates of 53.6% (including the tax benefit disclosed
below) and 35.6%, respectively. The Company expects its annual tax rate for its current fiscal year to be approximately 34.0% to 36.0%. The final annual tax rate cannot be determined until the end of the fiscal year; therefore, the actual tax rate
could differ from our current estimates. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">During the thirteen weeks ended March 28, 2009, the Company recognized a tax benefit of &#36;97,000 principally as a result of reducing its long term income tax liability for unrecognized tax
benefits due to the resolution of a tax audit.</FONT></P>
<P align="left">
<B><FONT size=2 face="serif">6. INCOME PER SHARE OF COMMON STOCK</FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Net income per share is computed in accordance with Statement of Financial Accounting Standards No. 128, </FONT><I><FONT size=2 face="serif">Earnings Per
Share</FONT></I><FONT size=2 face="serif">, and is calculated on the basis of the weighted average number of common shares outstanding during each period plus, for diluted earnings per share, the additional dilutive effect of potential common stock.
Potential common stock using the treasury stock method consists of dilutive stock options and warrants.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">For the 13-week and 26-week periods ended March 28, 2009, options to purchase 152,500 shares of common stock at a price of &#36;29.60 and options to purchase 100,000 shares of common stock at a
price of &#36;32.15 were not included in diluted earnings per share as their impact was antidilutive.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">For the 13-week period ended March 29, 2008, options to purchase 166,500 shares of common stock at a price of &#36;29.60 were included in diluted earnings per share. Options to purchase 105,000
shares of common stock at a price of &#36;32.15</FONT></P>
<P align="center"><FONT size=2 face="serif">-9-</FONT></P>
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<P align="left">
<FONT size=2 face="serif">were not included in diluted earnings per share as their impact was antidilutive for the 13-week period ended March 29, 2008. For the 26-week period ended March 29, 2008, options to purchase 271,500 shares of common stock
at a price range of &#36;29.60 -&#36;32.15 were included in earning per share. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">During the 13-week and 26-week periods ended March 28, 2009, no options were exercised.</FONT></P>
<P align="left">
<B><FONT size=2 face="serif">7. SHARE-BASED COMPENSATION</FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The Company has options outstanding under its 2004 Stock Option Plan (the &#147;2004 Plan&#148;). Options granted under the 2004 Plan are exercisable at prices at least equal to the fair market
value of such stock on the dates the options were granted. The options expire ten years after the date of grant. During fiscal 2005, options to purchase 194,000 shares of common stock were granted and are exercisable as to 50% of the shares
commencing on the first anniversary of the date of grant and as to an additional 50% commencing on the second anniversary of the date of grant. During fiscal 2007, options to purchase 105,000 shares of common stock were granted and are exercisable
as to 25% of the shares commencing on the first anniversary of the date of grant and as to an additional 25% commencing on each of the second, third and fourth anniversaries of the grant date. </FONT></P>
<P align="left">
<FONT size=2 face="serif">A summary of stock option activity is presented below:</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Weighted</FONT></B> </TD>
    <TD align="center">&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Weighted</FONT></B> </TD>
    <TD align="center">&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Weighted</FONT></B> </TD>
    <TD align="center">&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Average</FONT></B> </TD>
    <TD align="center">&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Average</FONT></B> </TD>
    <TD align="center">&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Average</FONT></B> </TD>
    <TD align="center">&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Aggregate</FONT></B> </TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Excersie</FONT></B> </TD>
    <TD align="center">&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Fair</FONT></B> </TD>
    <TD align="center">&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Contractual</FONT></B> </TD>
    <TD align="center">&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Intrinsic</FONT></B> </TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><B><U><FONT size=2 face="serif">Options</FONT></U></B> </TD>
    <TD align=center nowrap><B><U><FONT size=2 face="serif">Shares</FONT></U></B> </TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align=center nowrap><B><U><FONT size=2 face="serif">Price</FONT></U></B> </TD>
    <TD align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align=center nowrap><B><U><FONT size=2 face="serif">Value</FONT></U></B> </TD>
    <TD align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=center nowrap><B><U><FONT size=2 face="serif">Term (Yrs.)</FONT></U></B> </TD>
    <TD align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD align=center nowrap><B><U><FONT size=2 face="serif">Value</FONT></U></B> </TD>
  </TR>
  <TR>
    <TD colspan=14>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">Outstanding as
        September 27, 2008</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">271,500</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">30.59</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">9.22</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">7.01</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">Granted</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT> </TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT> </TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT> </TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">Exercised</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT> </TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT> </TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT> </TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">Forfeited/Cancelled</FONT> </TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(</FONT><FONT size=2 face="serif">19,000</FONT> </TD>
    <TD align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">31.48</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">10.20</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">7.21</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=14>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">Outstanding at
        March 28, 2009</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">252,500</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">30.61</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">9.24</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">6.46</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">-</FONT> </TD>
  </TR>
  <TR>
    <TD colspan=14>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">Exercisable at
        March 28, 2009</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">252,500</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">30.61</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">9.24</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">6.46</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">&#36;</FONT> </TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">-</FONT> </TD>
  </TR>
</TABLE>
<BR>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Compensation cost is recognized on a straight-line basis over the vesting period during which employees perform related services. The Company has applied a forfeitures assumption of 5%
per year in the calculation of such expense. As of March 28, 2009 there was approximately &#36;379,000 of unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a period of approximately 2 years.
</FONT></P>
<P align="left">
<B><FONT size=2 face="serif">8. INVESTMENT SECURITIES</FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif"> The amortized cost, gross unrealized holding gains, gross unrealized holding losses, and fair value of available for sale debt and fixed income securities by major type and class at March 28, 2009 are as follows (Dollar
amounts in thousands): </FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD width="95%" align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align="center" nowrap>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=center nowrap>
<B><FONT size=2 face="serif">Gross Unrealized</FONT></B>	</TD>
	<TD align="center" nowrap>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=center nowrap>
<B><FONT size=2 face="serif">Gross Unrealized</FONT></B>	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align="center" nowrap>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD width="95%" align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Amortized Cost</FONT></B>	</TD>
	<TD align="center" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Holding Gains</FONT></B>	</TD>
	<TD align="center" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Holding Losses</FONT></B>	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align="center" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Fair Value</FONT></B>	</TD>
</TR>
<TR valign="bottom">
	<TD width="95%" align=left nowrap>
<B><FONT size=2 face="serif">At March 28, 2009</FONT></B>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
	<TD width="95%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Available-for-sale short-term:</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD width="95%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Government debt securities</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap style="border-bottom:3px double #000000;">
<FONT size=2 face="serif">&#36;</FONT>	</TD>
	<TD align=right nowrap style="border-bottom:3px double #000000;">
<FONT size=2 face="serif">5,658</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap style="border-bottom:3px double #000000;">
<FONT size=2 face="serif">&#36;</FONT>	</TD>
	<TD align=right nowrap style="border-bottom:3px double #000000;">
<FONT size=2 face="serif">-</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap style="border-bottom:3px double #000000;">
<FONT size=2 face="serif">&#36;</FONT>	</TD>
	<TD align=right nowrap style="border-bottom:3px double #000000;">
<FONT size=2 face="serif">(34</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:3px double #000000;">
<FONT size=2 face="serif">)</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap style="border-bottom:3px double #000000;">
<FONT size=2 face="serif">&#36;</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:3px double #000000;"><div align="right"><FONT size=2 face="serif">5,624</FONT> </div></TD>
</TR>
</TABLE>
<BR>
<P align="left">
<B><FONT size=2 face="serif">9. DIVIDENDS </FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif"> A quarterly cash dividend in the amount of &#36;0.35 per share was declared on October 12, 2004. Subsequent to October 12, 2004, quarterly cash dividends in the amount of &#36;0.35 per share were declared October 10 and
December 20, 2006 and on April 12, 2007. We declared an increase in our quarterly cash dividend to &#36;0.44 per share on May 23, 2007 and subsequent quarterly cash dividends reflecting this increased amount were declared on October 12, 2007 and
January 11, April 11, July 11 and October 10, 2008. In addition, we declared a special cash dividend in the amount of &#36;3.00 per share on December 20, 2006. Prior to this, we had not paid any cash dividends since our inception. On December 18,
2008, our Board of Directors</FONT></P>
<P align="center"><FONT size=2 face="serif">-10-</FONT></P>

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<P align="left" style="page-break-before:always"></P><PAGE>
<BR>

<P align="left">
<FONT size=2 face="serif">determined to suspend the dividend which would have customarily been declared in January 2009. For the foreseeable future, our dividend policy will be determined by our Board of Directors on a quarter by quarter basis. No
dividends were declared during the quarter ended March 28, 2009. </FONT></P>
<P align="left">
<B><FONT size=2 face="serif">10. RELATED PARTY TRANSACTIONS</FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Receivables due from officers and employees, excluding stock option receivables, totaled &#36;327,000</FONT><B></B><FONT size=2 face="serif">at March 28, 2009
and &#36;284,000</FONT><B></B><FONT size=2 face="serif">at September 27, 2008. Such loans bear interest at the minimum statutory rate (0.72% at March 28, 2009). </FONT></P>
<P align="left">
<B><FONT size=2 face="serif">11. COMMON STOCK REPURCHASE PLAN</FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">On March 25, 2008, the Board of Directors authorized a stock repurchase program under which up to 500,000 shares of the Company&#146;s common stock may be acquired in the open market over the
two years following such authorization at the Company&#146;s discretion. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The Company did not purchase any shares pursuant to our stock repurchase program during the quarter ended March 28, 2009. </FONT></P>
<P align="left">
<B><U><FONT size=2 face="serif">Item 2. Management&#146;s Discussion and Analysis
of Financial Condition and</FONT></U></B><B></B><B><U><FONT size=2 face="serif"> Results
of Operations</FONT></U></B><B></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Certain reclassifications of prior years balances have been made to conform to the current year discontinued operations presentation. In connection with the planned or actual sale or closure of
various restaurants, the operations of these businesses have been presented as discontinued operations in the consolidated financial statements.  Accordingly,  the Company has reclassified its statements of operations and cash flow data for the
prior periods presented, in accordance with Statement of Financial Accounting Standards (&#147;SFAS&#148;) No. 144, &#147;Accounting for the Impairment or Disposal of Long-Lived Assets&#148; (&#147;SFAS 144&#148;). These dispositions are discussed
below in &#147;Recent Restaurant Dispositions.&#148; </FONT></P>
<P align="left">
<B><FONT size=2 face="serif">Revenues</FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">During the Company&#146;s second fiscal quarter of 2009, total revenues of &#36;23,756,000 decreased 2.5% compared to total revenues of &#36;24,369,000 in the second fiscal quarter of
2008. The Company had a net loss of &#36;712,000 in the second fiscal quarter of 2009 compared to net income of &#36;346,000 in the second fiscal quarter of 2008. Net income was negatively affected during the 13-week period ended March 28, 2009 as a
result of &#36;309,000 in legal expenses resulting from litigation related to one restaurant in New York City and a &#36;220,000 expense resulting from a real estate tax adjustment related to one restaurant in Washington D.C..</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">On a company wide basis same store sales decreased 10.0% during the second fiscal quarter of 2009 compared to the same period last year. Same store sales in Las Vegas decreased by
&#36;1,554,000 or 10.6% in the second fiscal quarter of 2009 compared to the second fiscal quarter of 2008. Same store sales in Las Vegas were negatively affected by the unwillingness of the public to engage in gaming activities and a decrease in
tourism and convention business, all related to the current economic conditions. Same store sales in New York decreased &#36;641,000 or 14.3% during the second quarter. Same store sales in New York were particularly negatively affected by large
amounts of layoffs in the financial sector, a decrease in corporate parties as well as a decrease in tourism and convention business related to the current economic conditions. Same store sales in Washington D.C. increased by &#36;209,000 or 7.3%
during the second quarter as the current economic conditions do not seem to have effected the region as much as other regions. Same store sales in Atlantic City decreased by &#36;270,000, or 31.4%, in the second quarter. Same store sales in Atlantic
City were negatively affected by the unwillingness of the public to engage in gaming activities and a decrease in tourism and convention business related to the current economic conditions as well as the introduction of slot machine parlors in
nearby Pennsylvania. Same store sales in Connecticut decreased by &#36;58,000, or 13.4%, in the second quarter. Same store sales in Connecticut were negatively affected by the unwillingness of the public to engage in gaming activities related to the
current economic conditions. Same store sales in Boston decreased &#36;104,000 or 14.0% during the second quarter. Same store sales in Boston were negatively affected by the current economic conditions. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">During the Company&#146;s 26-week period ended March 28, 2009, total revenues of &#36;50,549,000 decreased 7.6% compared to total revenues of &#36;54,687,000 in the 26-week period ended March 29, 2008. The Company had net
income of &#36;136,000 in the 26-week period ended March 28, 2009 compared to net income of &#36;1,830,000 in the 26-week period ended March 29, 2008. Net income was negatively affected during the 13-week period ended March 28, 2009 as a result of
approximately &#36;300,000 in legal expenses resulting from litigation related to one restaurant in New York City and a &#36;220,000 expense resulting from a real estate tax adjustment related to one restaurant in Washington D.C..</FONT></P>
<P align="center"><FONT size=2 face="serif">-11-</FONT></P>

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<P align="left" style="page-break-before:always"></P><PAGE>
<BR>

<P align="left"><B><FONT size=2 face="serif">Costs and Expenses</FONT></B></P>
<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Food and beverage costs for the second quarter of 2009 as a percentage of total revenues were 25.6% compared to 26.4% in the second quarter of 2008. These costs for the 26-weeks ended March 28,
  2009 as a percentage of total revenues were 25.3% compared to 25.9% in the 26-week period ended March 29, 2008.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Payroll expenses as a percentage of total revenues were 34.2% for the second quarter of 2009 as compared to 34.3% in the second quarter of 2008. Payroll expenses as a percentage of total
revenues were 33.7% for the 26-week period ended March 28, 2009 as compared to 32.7% for the 26-week period ended March 29, 2008. The increase in payroll expenses as a percentage of revenue, for the 26-week period ended March 28, 2009, was primarily
due to a decrease in sales. Occupancy expenses as a percentage of total revenues were 15.7% during the second fiscal quarter of 2009 compared to 14.5% in the second quarter of 2008. During the second fiscal quarter of 2009 the Company incurred a
&#36;220,000 expense for a real estate tax adjustment related to a restaurant in Washington D.C. which negatively affected occupancy expenses. Occupancy expenses as a percentage of total revenues were 14.9% during the 26-week period ended March 28,
2009 compared 13.8% for the 26-week period ended March 29, 2008. </FONT><B></B><FONT size=2 face="serif">Other operating costs and expenses as a percentage of total revenues were 16.2% during the second fiscal
quarter of 2009 compared to 12.6% in the second quarter of 2008. The increase in other operating costs and expenses as a percentage of revenue was due to decreased sales and &#36;309,000 of legal costs associated with litigation incurred related to
a New York City restaurant during the second fiscal quarter of 2009. Other operating costs and expenses as a percentage of total revenues were 15.5% for the 26-week period ended March 28, 2009 compared to 13.1% for the 26-week period ended March 29,
2008. General and administrative expenses as a percentage of total revenues were 10.7% during the second fiscal quarter of 2009 compared to 9.0% in the second quarter of 2008. General and administrative expenses as a percentage of total revenue were
9.2% for the 26-week period ended March 28, 2009 compared to 7.9% for the 26-week period ended March 29, 2008. The increase in general and administrative expenses as a percentage of revenue was primarily due to decreased sales. </FONT></P>
<P align="left">
<B><FONT size=2 face="serif">Income Taxes</FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The provision for income taxes reflects Federal income taxes calculated on a consolidated basis and state and local income taxes calculated by each New York subsidiary on a non-consolidated
basis. Most of the restaurants owned or managed by the Company are owned or managed by separate subsidiaries. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">For state and local income tax purposes, the losses incurred by a subsidiary may only be used to offset that subsidiary&#146;s income, with the exception of the restaurants operating in the
District of Columbia.  Accordingly, the Company&#146;s overall effective tax rate has varied depending on the results of operations at individual subsidiaries.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The Company&#146;s overall effective tax rate in the future will be affected by factors such as the level of losses incurred at the Company&#146;s New York facilities, which cannot be
consolidated for state and local tax purposes, pre-tax income earned outside of New York City, the utilization of state and local net operating loss carryforwards and the utilization of FICA tax credits. Nevada has no state income tax and other
states in which the Company operates have income tax rates substantially lower in comparison to New York. In order to utilize more effectively tax loss carryforwards at restaurants that were unprofitable, the Company has merged certain profitable
subsidiaries with certain loss subsidiaries. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The income tax provisions on continuing operations for the 26-week periods ended March 28, 2009 and March 29, 2008 reflect effective tax rates of 53.6% and 35.6%, respectively. The Company
expects its annual tax rate for its current fiscal year to be approximately 34.0% to 36.0% . The final annual tax rate cannot be determined until the end of the fiscal year; therefore, the actual tax rate could differ from our current estimates.
</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">During the thirteen weeks ended March 28, 2009, the Company recognized a tax benefit of &#36;97,000 principally as a result of reducing its long term income tax liability for unrecognized tax
benefits due to the resolution of a tax audit.</FONT></P>
<P align="left">
<B><FONT size=2 face="serif">Liquidity and Capital Resources</FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The Company&#146;s primary source of capital has been cash provided by operations. The Company has, from time to time, utilized equipment financing in connection with the construction of a
restaurant and seller financing in connection with the acquisition of a restaurant. The Company utilizes cash from operations primarily to fund the cost of developing and opening new restaurants, acquiring existing restaurants owned by others and
remodeling existing restaurants owned by the Company. </FONT><B></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The Company had a working capital surplus of &#36;7,659,000</FONT><B></B><FONT size=2 face="serif">at March 28, 2009 as compared to a working capital surplus
of &#36;9,144,000</FONT><B></B><FONT size=2 face="serif">at September 27, 2008.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The Company&#146;s Revolving Credit and Term Loan Facility matured on March 12, 2005.  The Company does not currently plan to enter into another credit facility and expects required cash to be
provided by operations. </FONT></P>
<P align="center"><FONT size=2 face="serif">-12-</FONT></P>

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<P align="left" style="page-break-before:always"></P><PAGE>
<BR>

<P align="left"><B><FONT size=2 face="serif">Restaurant Expansion</FONT></B></P>
<P align="left"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">In
    2006, the Company entered into an agreement to lease space for a Mexican
    restaurant, </FONT><I><FONT size=2 face="serif">Yolos,</FONT></I><FONT size=2 face="serif"> at
    the Planet Hollywood Resort and Casino (formerly known as the Aladdin Resort
    and Casino) in Las Vegas, Nevada. The obligation to pay rent for </FONT><I><FONT size=2 face="serif">Yolos</FONT></I><FONT size=2 face="serif"> commenced
    when the restaurant opened for business in January 2008. </FONT></P>
<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">In June 2007, the Company entered into an agreement to design and lease a food court at the MGM Grand Casino at the Foxwoods Resort Casino which commenced operations during the third fiscal
  quarter of 2008. A limited liability company has been established to develop, construct, operate and manage the food court. The Company, through a wholly-owned subsidiary, is the managing member of this limited liability company and has an aggregate
  ownership interest in the food court operations of 67% and accordingly such operations have been consolidated. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">In June 2008, the Company signed two successive one-year agreements to use certain deck space adjacent to the </FONT><I><FONT size=2 face="serif">Sequoia </FONT></I><FONT size=2 face="serif">location in New York City as a Caf&eacute;. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">In June 2008, the Company entered into an agreement to design and lease a restaurant at The Museum of Arts &amp; Design at Columbus Circle in New York City. The initial term of the lease for
this facility will expire on December 31 sixteen years after the date the Museum first opens for business to the public following its current refurbishment and will have two five-year renewals. The Company anticipates the restaurant will open during
the third quarter of the 2009 fiscal year. </FONT></P>
<P align="left">
<B><FONT size=2 face="serif">Recent Restaurant Dispositions</FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">During the first fiscal quarter of 2008, we discontinued the operation of our Columbus Bakery retail and wholesale bakery located in New York City. Columbus Bakery was originally intended to
serve as the bakery that would provide all of our New York restaurants with baked goods as well as being a retail bakery operation. As a result of the sale and closure of several of our restaurants in New York City during the last several years,
this bakery operation was no longer profitable. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">During
the second fiscal quarter of 2008 we opened, along with certain third party investors,
a new concept at this location called &#147;Pinch &amp; S&#146;Mac&#148; which
features pizza and  macaroni and cheese. We contributed Columbus Bakery&#146;s
net fixed assets and cash into this venture and received an ownership interest
of 37.5%. These operations are not consolidated in the Company&#146;s financial
statements. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Effective June 30, 2008, the lease for our </FONT><I><FONT size=2 face="serif">Stage Deli</FONT></I><FONT size=2 face="serif"> facility at the Forum Shops in Las Vegas, Nevada expired. The
landlord for this facility offered to renew the lease at this location prior to its expiration at a significantly increased rent. The Company determined that it would not be able to operate this facility profitably at this location at the rent
offered in the landlord&#146;s renewal proposal. As a result, the Company discontinued these operations during the third fiscal quarter of 2008 and took a charge for the impairment of goodwill of &#36;294,000 and a loss on disposal of &#36;19,000.
The impairment charge and disposal loss are included in discontinued operations. Operations for the 13-week and 26-week periods ended March 29, 2008 have been reclassified as discontinued operations. </FONT></P>
<P align="left">
<B><FONT size=2 face="serif">Critical Accounting Policies</FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The preparation of financial statements requires the application of certain accounting policies, which may require the Company to make estimates and assumptions of future events. In the process
of preparing its consolidated financial statements, the Company estimates the appropriate carrying value of certain assets and liabilities, which are not readily apparent from other sources. The primary estimates underlying the Company&#146;s
financial statements include allowances for potential bad debts on accounts and notes receivable, the useful lives and recoverability of its assets, such as property and intangibles, fair values of financial instruments, the realizable value of its
tax assets and other matters. Management bases its estimates on certain assumptions, which they believe are reasonable in the circumstances, and actual results, could differ from those estimates. Although management does not believe that any change
in those assumptions in the near term would have a material effect on the Company&#146;s consolidated financial position or the results of operation, differences in actual results could be material to the financial statements.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The Company&#146;s critical accounting policies are described in the Company&#146;s Form 10-K for the year ended September 27, 2008. There have been no significant changes to such policies
during fiscal 2009, other than the implementation of FASB Interpretation No. 157, &#147;Fair Value Measurements.&#148;</FONT></P>
<P align="left">
<B><FONT size=2 face="serif">Recent Accounting Developments</FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The Financial Accounting Standards Board has recently issued the following accounting pronouncements:</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">In December 2007, the FASB issued SFAS No. 141 (Revised),</FONT><I><FONT size=2 face="serif"> &#147;Business Combinations&#148;</FONT></I><FONT size=2 face="serif"> (SFAS 141R), which
establishes principles and requirements for the reporting entity in a business combination, including recognition and measurement in the financial statements of the identifiable assets acquired, the liabilities assumed, and any noncontrolling
interest in the acquiree. This statement also establishes disclosure requirements to enable financial statement users to evaluate</FONT></P>
<P align="center"><FONT size=2 face="serif">-13-</FONT></P>

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<P align="left" style="page-break-before:always"></P><PAGE>
<BR>

<P align="left">
<FONT size=2 face="serif"> the nature and financial effects of the business combination.
SFAS 141R applies prospectively to business combinations for which the acquisition
date is on or after the beginning of the first annual reporting period beginning
on or after December 15, 2008. SFAS 141R will become effective for our fiscal
year beginning October 4, 2009. </FONT></P>
<P align="left"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">In
    December 2007, the FASB issued SFAS No. 160,<I> &#147;Noncontrolling
    Interests in Consolidated Financial Statements&#151;an amendment of ARB&#148; No.
    51,</I> (&#147;SFAS 160&#148;), which amends
    Accounting Research Bulletin No. 51,<I> &#147;Consolidated
    Financial Statements&#148;</I> (&#147;ARB
    No. 51&#148;)<I>,</I> to
    establish accounting and reporting standards for the noncontrolling interest
    in a subsidiary and for the deconsolidation
    of a subsidiary. This standard defines a noncontrolling interest, previously
    referred to as minority interest, as the portion of equity in a subsidiary
    not attributable, directly or indirectly, to a parent. SFAS 160 requires,
    among other items, that a noncontrolling interest be included in the consolidated
    balance sheet within equity separate from the parent&#146;s equity; consolidated
    net income to be reported at amounts inclusive of both the  parent&#146;s
    and noncontrolling interest&#146;s shares and, separately, the amounts of
    consolidated net income attributable to the parent and noncontrolling interest
    all on the consolidated statement of income; and if a subsidiary is  deconsolidated,
    any retained noncontrolling equity investment in the former subsidiary be
    measured at fair value and a gain or loss be recognized in net income based
    on such fair value. SFAS 160 is effective for fiscal years beginning after
    December  15, 2008, which corresponds to the Company&#146;s fiscal year beginning
    October 4, 2009. The Company is currently evaluating the potential impact
    of adopting SFAS 160 on its consolidated financial statements.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">In April 2008, the FASB issued FASB Staff Position 142-3, &#147;</FONT><I><FONT size=2 face="serif">Determination of the Useful Life of Intangible Assets&#148; </FONT></I><FONT size=2 face="serif">(&#147;FSP FAS 142-3&#148;), which amends the list of factors an entity should consider in developing renewal or extension assumptions in determining the useful life of recognized intangible assets under FAS No. 142, Goodwill and Other
Intangible Assets. The new guidance applies to (1) intangible assets that are acquired individually or with a group of other assets and (2) intangible assets acquired in both business combinations and asset acquisitions. Under FSP FAS 142-3,
entities estimating the useful life of a recognized intangible asset must consider their historical experience in renewing or extending similar arrangements or, in the absence of historical experience, must consider assumptions that market
participants would use about renewal or extension. FSP FAS 142-3 is effective for fiscal years beginning after December 15, 2008, which corresponds to the Company&#146;s fiscal year beginning October 4, 2009. The Company is currently evaluating the
impact that the adoption of FSP FAS 142-3 may have on its consolidated financial statements and related disclosures. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">On April 9, 2009 the FASB issued Staff Position (&#147;FSP&#148;) No. 107-1 and APB 28-1 &#147;</FONT><I><FONT size=2 face="serif">Interim Disclosures about Fair Value of Financial
Instruments</FONT></I><FONT size=2 face="serif">&#148;. This FSP shall be effective for interim reporting periods ending after June 15, 2009, with early adoption permitted for periods ending after March 15, 2009. The Company has not elected to early
adopt this pronouncement and is currently evaluating the impact of this pronouncement on its consolidated financial statements. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">On April 9, 2009 the FASB issued Staff Position No. 115-2 and FAS 124-2 &#147;</FONT><I><FONT size=2 face="serif">Recognition and Presentation of
Other-Than-Temporary-Impairments</FONT></I><FONT size=2 face="serif">&#148;. This FSP shall be effective for interim reporting periods ending after June 15, 2009, with early adoption permitted for periods ending after March 15, 2009. The Company has
not elected to early adopt this pronouncement and is currently evaluating the impact of this pronouncement on its consolidated financial statements. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">On April 9, 2009 the FASB issued FSP FAS 157-4 &#147;</FONT><I><FONT size=2 face="serif">Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have
Significantly Decreased and Identifying Transactions That Are Not Orderly</FONT></I><FONT size=2 face="serif">&#148;. This FSP shall be effective for interim reporting periods ending after June 15, 2009, with early adoption permitted for periods
ending after March 15, 2009.  The Company has not elected to early adopt this pronouncement and is currently evaluating the impact of this pronouncement on its consolidated financial statements. </FONT></P>
<P align="left">
<B><U><FONT size=2 face="serif">Item 3. Quantitative and Qualitative Disclosures about Market Risk</FONT></U></B><B></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The Company purchases commodities such as chicken, beef, lobster and shrimp for the Company&#146;s restaurants. The prices of these commodities may be volatile depending upon market conditions.
The Company does not purchase forward commodity contracts because the changes in prices for them have historically been short-term in nature and, in the Company&#146;s view, the cost of the contracts is in excess of the benefits. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The Company&#146;s business is also highly seasonal and dependent on the weather. Outdoor seating capacity, such as terraces and sidewalk cafes, are available for dining only in the warm
seasons and then only in clement weather. </FONT></P>
<P align="left"><B><U><FONT size=2 face="serif">Item 4T. Controls and Procedures</FONT></U></B></P>
<P align="left"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Based
    on their evaluation, the Company&#146;s principal executive officer and principal
    financial officer have concluded that the Company&#146;s disclosure controls
    and procedures (as defined in Rules 13a-14(c) and 15d-14(c) under the Securities
    Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;)) are effective
    as of March 28, 2009 to ensure that information required to be disclosed
    by the Company in reports that the Company files or submits under the Exchange
    Act is recorded, processed, summarized and reported within the time periods
    specified in Securities and Exchange Commission rules and forms.</FONT></P>
<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">There
    were no changes in the Company&#146;s internal control over financial reporting
    during the second quarter of fiscal year 2009 that materially affected or
    are reasonably likely to materially affect the Company&#146;s internal control
    over financial reporting. </FONT></P>
<P align="center"></P>
<P align="left">&nbsp;</P>
<P align="center"><FONT size=2 face="serif">-14-</FONT></P>

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<P align="left" style="page-break-before:always"></P><PAGE>
<BR>



<P align="center">
<B><FONT size=2 face="serif">PART II </FONT></B><BR>
<B><FONT size=2 face="serif">OTHER INFORMATION</FONT></B></P>
<P align="left">
<B><U><FONT size=2 face="serif">Item 1. Legal Proceedings</FONT></U></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The Company is not subject to any other pending legal proceedings, other than ordinary routine claims incidental to its business, which the Company does not believe will materially impact
results of operations</FONT><FONT size=2 face="serif">.</FONT><FONT face="serif"> </FONT></P>
<P align="left">
<B><U><FONT size=2 face="serif">Item 1A. Risk Factors</FONT></U></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif"> The most significant risk factors applicable to the Company are described in Part I, Item 1A (Risk Factors) of the Company&#146;s Annual Report on Form 10-K for the fiscal year ended September 27, 2008 (the &#147;2008 Form
10-K&#148;). There have been no material changes to the risk factors previously disclosed in the 2008 Form 10-K. The risks described in the 2008 Form 10-K are not the only risks facing the Company. Additional risks and uncertainties not currently
known to management may materially adversely affect the Company&#146;s business, financial condition, and/or operating results. </FONT></P>
<P align="left">
<B><U><FONT size=2 face="serif">Item 2. Unregistered Sales of Equity Securities and Use of Proceeds</FONT></U></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The following table sets forth information regarding purchases of our common stock by us and any affiliated purchasers during the three months ended March 28, 2009. Stock repurchases may be
made in the open market or in private transactions at times and in amounts that we deem appropriate. However, there is no guarantee as to the exact number of additional shares that may be repurchased, and we may terminate or limit the stock
repurchase program at any time prior to its expiration. We will cancel the repurchased shares.</FONT><B></B></P>
<P align="center">
<B><FONT size=2 face="serif">ISSUER PURCHASES OF EQUITY SECURITIES</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <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=center nowrap><B><FONT size=2 face="serif">(c) Total Number</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">(d) Maximum Number</FONT></B> </TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">(a) Total</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">(b)</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">of Shares (or Units)</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">(or Approximate Dollar</FONT></B> </TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Number of</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Average</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Purchased as Part</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Value) of Shares (or</FONT></B> </TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Shares (or</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Price Paid</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">of Publicly</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Units) that May Yet
          Be</FONT></B> </TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Units)</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">per Share</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Announced Plans</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Purchased Under the</FONT></B> </TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><B><FONT size=2 face="serif">Period</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Purchased</FONT></B> </TD>
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">(or Unit)</FONT></B> </TD>
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">or Programs</FONT></B> </TD>
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Plans or Programs(1)</FONT></B> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">Month&nbsp;&nbsp;&nbsp; #1</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=right 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>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">December 29,</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif"></FONT> </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>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">2008</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">0</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">Not Applicable</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">0</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">393,043</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">through</FONT> </TD>
    <TD>&nbsp;</TD>
    <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>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD colspan=3 align=left nowrap><FONT size=2 face="serif">January 27, 2009</FONT> </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>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">Month</FONT>&nbsp;&nbsp; <FONT size=2 face="serif">#2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right 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>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap colspan=3><FONT size=2 face="serif">January 28, 2009</FONT> </TD>
    <TD align=center nowrap><FONT size=2 face="serif">0</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">Not Applicable</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">0</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">393,043</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">through</FONT> </TD>
    <TD>&nbsp;</TD>
    <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>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap colspan=3><FONT size=2 face="serif">February 26, 2009</FONT> </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>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">Month&nbsp;&nbsp;&nbsp; #3</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=right 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>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD colspan=3 align=left nowrap><FONT size=2 face="serif">February 27, 2009</FONT> </TD>
    <TD align=center nowrap><FONT size=2 face="serif">0</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">Not Applicable</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">0</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">393,043</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">through</FONT> </TD>
    <TD>&nbsp;</TD>
    <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>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD colspan=3 align=left nowrap><FONT size=2 face="serif">March 28, 2009</FONT> </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>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="95%" align=left nowrap><FONT size=2 face="serif">Total</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">0</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">Not Applicable</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">0</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">393,043</FONT> </TD>
  </TR>
</TABLE>
<BR>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">(1) On March 25, 2008, our Board of Directors authorized a stock repurchase program under which up to 500,000 shares of our common stock may be acquired in the open market over the two years
following such authorization at our discretion. In periods prior to the second fiscal quarter of 2009 we purchased an aggregate 106,957 shares of our common stock. </FONT></P>
<P align="left">
<B><U><FONT size=2 face="serif">Item 3. Defaults upon Senior Securities</FONT></U></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">None.</FONT></P>
<P align="left">
<B><U><FONT size=2 face="serif">Item 4. Submissions of Matters to a Vote of Security Holders</FONT></U></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The Company&#146;s Annual Meeting of Stockholders was held on March 24, 2009. The proposals submitted to the stockholders for a vote were as follows: </FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
  <TD width="2%" valign=top nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
	<TD width="2%" valign=top nowrap>
<FONT size=2 face="serif">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
	<TD width="98%">
<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 as independent auditors for the 2009 fiscal year</FONT></P>	</TD>
</TR>
</TABLE>
<P align="center"><FONT size=2 face="serif">-15-</FONT></P>

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



<P align="left" style="page-break-before:always"></P><PAGE>
<BR>

<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">The following sets forth the number of votes for, the number of votes against, the number of abstentions (or votes withheld in the case of the election of directors) and broker non-votes with
respect to each of the forgoing proposals. </FONT></P>
<P align="left">
<B><FONT size=2 face="serif">Proposal </FONT></B></P>
<div style="margin-left:30px">
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Votes For</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Votes Against</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Withheld</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">Broker Non-Votes</FONT></B> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap colspan=2><B><FONT size=2 face="serif">(Abstentions)</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><B><FONT size=2 face="serif">Proposal 1</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan=10>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap>&nbsp;<FONT size=2 face="serif">Michael Weinstein</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">3,245,250</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">--</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">29,941</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">--</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp;<FONT size=2 face="serif">Robert Towers</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">3,253,991</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">--</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">21,200</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap>&nbsp;<FONT size=2 face="serif">Vincent Pascal</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">3,253,983</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">--</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">21,208</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">--</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp;<FONT size=2 face="serif">Paul Gordon</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">3,237,692</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">--</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">37,499</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">--</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap>&nbsp;<FONT size=2 face="serif">Marcia Allen</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">3,258,658</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">--</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">16,533</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">--</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp;<FONT size=2 face="serif">Bruce R. Lewin</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">3,258,858</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">--</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">16,333</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">--</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap>&nbsp;<FONT size=2 face="serif">Steven Shulman</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">3,267,589</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">--</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">7,602</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">--</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp;<FONT size=2 face="serif">Arthur Stainman</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">3,258,850</FONT> </TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=center nowrap><div align="center"><font size=2 face="serif">--</font></div></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">16,341</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">--</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap>&nbsp;<FONT size=2 face="serif">Stephen Novick</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">3,251,292</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">--</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">23,899</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">--</FONT> </TD>
  </TR>
  <TR>
    <TD colspan=10>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><B><FONT size=2 face="serif">Proposal 2</FONT></B> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">3,244,713</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">29,083</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">1,395</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD align=center nowrap><FONT size=2 face="serif">--</FONT> </TD>
  </TR>
</TABLE></div>
<BR>
<P align="left">
<B><U><FONT size=2 face="serif">Item 5. Other Information</FONT></U></B><BR>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">None. </FONT><BR>
<BR>
<B><U><FONT size=2 face="serif">Item 6. Exhibits</FONT></U></B><B></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
	<TD width="3%" valign=top nowrap>
<FONT size=2 face="serif">31.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
	<TD width="97%">
<P align="left"><FONT size=2 face="serif">Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</FONT></P>
	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">31.2</FONT></TD>
	<TD>
<P align="left"><FONT size=2 face="serif">Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</FONT></P>
	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">32</FONT></TD>
	<TD>
<P align="left"><FONT size=2 face="serif">Certificate of Chief Executive and Chief Financial Officers Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</FONT></P>
	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
<P align="left">&nbsp;</P>
<P align="center"><FONT size=2 face="serif">-16-</FONT></P>
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<P align="left" style="page-break-before:always"></P><PAGE>
<BR>

<P align="center">
<B><U><FONT size=2 face="serif">SIGNATURES</FONT></U></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
</FONT></P>
<TABLE width="50%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD width="7%" align=left nowrap>
<FONT size=2 face="serif">Date:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>	</TD>
	<TD width="93%" align=left nowrap>
<FONT size=2 face="serif">May 12, 2009</FONT>	</TD>
</TR>
<TR>
	<TD colspan=2>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="serif">ARK RESTAURANTS CORP.</FONT></B>	</TD>
</TR>
<TR>
	<TD colspan=2>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">By:</FONT>	</TD>
	<TD align=left nowrap>
<U><FONT size=2 face="serif">/s/ Michael Weinstein</FONT></U>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">Michael Weinstein</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">Chairman &amp; Chief Executive Officer</FONT>	</TD>
</TR>
<TR>
	<TD colspan=2>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">By:</FONT>	</TD>
	<TD align=left nowrap>
<U><FONT size=2 face="serif">/s/ Robert J. Stewart</FONT></U>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">Robert Stewart</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">Chief Financial Officer</FONT>	</TD>
</TR>
</TABLE>
<BR>
<P align="left">&nbsp;</P>
<P align="left">&nbsp;</P>
<P align="center"><FONT size=2 face="serif">-17-</FONT></P>
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<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>2
<FILENAME>c57577_ex31-1.htm
<TEXT>

<HTML>
<HEAD>
   <TITLE>c57577_ex31-1.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">
<BR>

<P align="right">
<B><FONT size=2 face="serif">EXHIBIT 31.1</FONT></B></P>
<P align="center">
<B><FONT size=2 face="serif">CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER PURSUANT TO</FONT></B><BR>
<B><FONT size=2 face="serif">SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 </FONT></B><FONT size=2 face="serif"> </FONT></P>
<P align="left">
<FONT size=2 face="serif">I, Michael Weinstein and Chief Executive Officer of Ark Restaurants Corp., certify that:</FONT></P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="2%" align="left" valign="top" nowrap><font size=2 face="serif">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
    <td colspan="2" align="left" valign="top"><font size=2 face="serif">I have reviewed this
    quarterly report on Form 10-Q of Ark Restaurants Corp.</font></td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td colspan="2" align="left" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap><font size=2 face="serif">2.</font></td>
    <td colspan="2" align="left" valign="top"><font size=2 face="serif">Based on my knowledge,
        this report does not contain any untrue statement of a material fact
        or omit to state a material fact necessary to make the statements made,
        in light of the circumstances under which such statements were made,
    not misleading with respect to the period covered by this report;</font></td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td colspan="2" align="left" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap><font size=2 face="serif">3.</font></td>
    <td colspan="2" align="left" valign="top"><font size=2 face="serif">Based on my knowledge,
        the financial statements, and other financial information included in
        this report, fairly present in all material respects the financial condition,
        results of operations and cash flows of the registrant as of, and for,
    the periods presented in this report;</font></td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td colspan="2" align="left" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap><font size=2 face="serif">4.</font></td>
    <td colspan="2" align="left" valign="top"><font size=2 face="serif">The registrant&#146;s
        other certifying officer(s) and I are responsible for establishing and
        maintaining disclosure controls and procedures (as defined in Exchange
        Act Rules 13a-15(e) and 15d-15(e)) </font><b><font face="serif"> </font></b><font size=2 face="serif">and
        internal control over financial reporting (as defined in Exchange Act
    Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</font></td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td colspan="2" align="left" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td width="2%" align="left" valign="top" nowrap><font size=2 face="serif">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
    <td width="96%" align="left" valign="top"><font size=2 face="serif">Designed
        such disclosure controls and procedures, or caused such disclosure controls
        and procedures to be designed under our supervision, to ensure that material
        information relating to the registrant, including its consolidated subsidiaries,
        is made known to us by others within those entities, particularly during
    the period in which this report is being prepared;</font></td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top" nowrap><font size=2 face="serif">b)</font></td>
    <td align="left" valign="top"><font size=2 face="serif">Designed such internal
        control over financial reporting, or caused such internal control over
        financial reporting to be designed under our supervision, to provide
        reasonable assurance regarding the reliability of financial reporting
        and the preparation of financial statements for external purposes in
    accordance with generally accepted accounting principles;</font></td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top" nowrap><font size=2 face="serif">c) </font></td>
    <td align="left" valign="top"><font size=2 face="serif">Evaluated the effectiveness
        of the registrant&#146;s disclosure controls and procedures and presented
        in this report our conclusions about the effectiveness of the disclosure
        controls and procedures, as of the end of the period covered by this
    report based on such evaluation; and</font></td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top" nowrap><font size=2 face="serif">d)</font></td>
    <td align="left" valign="top"><font size=2 face="serif">Disclosed in this
        report any change in the registrant&#146;s internal control over financial
        reporting that occurred during the registrant&#146;s most recent fiscal
        quarter (the registrant&#146;s fourth fiscal quarter in the case of an
        annual report) that has materially affected, or is reasonably likely
        to materially affect, the registrant&#146;s internal control over financial
    reporting; and</font></td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td colspan="2" align="left" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap><font size=2 face="serif">5. </font></td>
    <td colspan="2" align="left" valign="top"><font size=2 face="serif">The registrant&#146;s
        other certifying officer(s) and I have disclosed, based on our most recent
        evaluation of internal control over financial reporting, to the registrant&#146;s
        accountants and the audit committee of the registrant&#146;s board of
    directors (or persons performing the equivalent functions):</font></td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td colspan="2" align="left" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top"><font size=2 face="serif">a)</font></td>
    <td align="left" valign="top"><font size=2 face="serif">All significant deficiencies
        and material weaknesses in the design or operation of internal control
        over financial reporting which are reasonably likely to adversely affect
        the registrant&#146;s ability to record, process, summarize and report
    financial information; and</font></td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top">&nbsp;</td>
    <td align="left" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top"><font size=2 face="serif">b)</font></td>
    <td align="left" valign="top"><font size=2 face="serif">Any fraud, whether
        or not material, that involves management or other employees who have
        a significant role in the registrant&#146;s internal control over financial
    reporting. </font></td>
  </tr>
</table>
<br>
<TABLE width="20%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Dated: May 12, 2009</FONT>	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">/s/ MICHAEL WEINSTEIN</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="serif">Michael Weinstein</FONT></B>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<I><FONT size=2 face="serif">Chairman and Chief Executive Officer</FONT></I>	</TD>
</TR>
</TABLE>
<BR>

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<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>3
<FILENAME>c57577_ex31-2.htm
<TEXT>

<HTML>
<HEAD>
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<BR>

<P align="right">
<B><FONT size=2 face="serif">EXHIBIT 31.2</FONT></B></P>
<P align="center">
<B><FONT size=2 face="serif">CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER PURSUANT TO</FONT></B><BR>
<B><FONT size=2 face="serif">SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 </FONT></B><FONT size=2 face="serif"> </FONT></P>
<P align="left">
<FONT size=2 face="serif">I, Robert Stewart, Chief Financial Officer of Ark Restaurants Corp., certify that:</FONT></P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="2%" align="left" valign="top" nowrap><font size=2 face="serif">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
    <td width="98%" colspan="2" align="left" valign="top"><font size=2 face="serif">I have
    reviewed this quarterly report on Form 10-Q of Ark Restaurants Corp. </font></td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td colspan="2" align="left" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap><font size=2 face="serif">2.</font></td>
    <td colspan="2" align="left" valign="top"><font size=2 face="serif">Based on my knowledge,
        this report does not contain any untrue statement of a material fact
        or omit to state a material fact necessary to make the statements made,
        in light of the circumstances under which such statements were made,
    not misleading with respect to the period covered by this report;</font></td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td colspan="2" align="left" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap><font size=2 face="serif">3.</font></td>
    <td colspan="2" align="left" valign="top"><font size=2 face="serif">Based on my knowledge,
        the financial statements, and other financial information included in
        this report, fairly present in all material respects the financial condition,
        results of operations and cash flows of the registrant as of, and for,
    the periods presented in this report;</font></td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td colspan="2" align="left" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap><font size=2 face="serif">4.</font></td>
    <td colspan="2" align="left" valign="top"><font size=2 face="serif">The registrant&#146;s
        other certifying officer(s) and I are responsible for establishing and
        maintaining disclosure controls and procedures (as defined in Exchange
        Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial
        reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) </font><b><font face="serif"> </font></b><font size=2 face="serif"> for
    the registrant and have:  </font></td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td colspan="2" align="left" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top" nowrap><font size=2 face="serif">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
    <td align="left" valign="top"><font size=2 face="serif">Designed such disclosure
        controls and procedures, or caused such disclosure controls and procedures
        to be designed under our supervision, to ensure that material information
        relating to the registrant, including its consolidated subsidiaries,
        is made known to us by others within those entities, particularly during
    the period in which this report is being prepared;</font></td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top" nowrap><font size=2 face="serif">b)</font></td>
    <td align="left" valign="top"><font size=2 face="serif">Designed such internal
        control over financial reporting, or caused such internal control over
        financial reporting to be designed under our supervision, to provide
        reasonable assurance regarding the reliability of financial reporting
        and the preparation of financial statements for external purposes in
    accordance with generally accepted accounting principles;</font></td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top" nowrap><font size=2 face="serif">c)</font></td>
    <td align="left" valign="top"><font size=2 face="serif">Evaluated the effectiveness
        of the registrant&#146;s disclosure controls and procedures and presented
        in this report our conclusions about the effectiveness of the disclosure
        controls and procedures, as of the end of the period covered by this
    report based on such evaluation; and</font></td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top" nowrap><font size=2 face="serif">d)</font></td>
    <td align="left" valign="top"><font size=2 face="serif">Disclosed in this
        report any change in the registrant&#146;s internal control over financial
        reporting that occurred during the registrant&#146;s most recent fiscal
        quarter (the registrant&#146;s fourth fiscal quarter in the case of an
        annual report) that has materially affected, or is reasonably likely
        to materially affect, the registrant&#146;s internal control over financial
    reporting; and</font></td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td colspan="2" align="left" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap><font size=2 face="serif">5.</font></td>
    <td colspan="2" align="left" valign="top"><font size=2 face="serif">The registrant&#146;s
        other certifying officer(s) and I have disclosed, based on our most recent
        evaluation of internal control over financial reporting, to the registrant&#146;s
        accountants and the audit committee of the registrant&#146;s board of
    directors (or persons performing the equivalent functions):</font></td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td colspan="2" align="left" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top"><font size=2 face="serif">a) </font></td>
    <td align="left" valign="top"><font size=2 face="serif">All significant deficiencies
        and material weaknesses in the design or operation of internal control
        over financial reporting which are reasonably likely to adversely affect
        the registrant&#146;s ability to record, process, summarize and report
    financial information; and</font></td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top">&nbsp;</td>
    <td align="left" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td align="left" valign="top" nowrap>&nbsp;</td>
    <td align="left" valign="top"><font size=2 face="serif">b)</font></td>
    <td align="left" valign="top"><font size=2 face="serif">Any fraud, whether
        or not material, that involves management or other employees who have
        a significant role in the registrant&#146;s internal control over financial
    reporting. </font></td>
  </tr>
</table>
<br>

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<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Dated: May 12, 2009</FONT>	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">/s/ Robert Stewart</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="serif">Robert Stewart</FONT></B>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<I><FONT size=2 face="serif">Chief Financial Officer</FONT></I>	</TD>
</TR>
</TABLE>
<BR>

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<DOCUMENT>
<TYPE>EX-32
<SEQUENCE>4
<FILENAME>c57577_ex32.htm
<TEXT>

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   <TITLE>c57577_ex32.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing</TITLE>
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<P align="right">
<B><FONT size=2 face="serif">Exhibit 32</FONT></B></P>
<P align="center">
<B><FONT size=2 face="serif">Certificate of Chief Executive and Chief Financial Officers</FONT></B></P>
<P align="left">
<B><FONT size=2 face="serif">The following statement is being made to the Securities and Exchange Commission solely for purposes of Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350), which carries with it certain criminal penalties in
the event of a knowing or willful misrepresentation.</FONT></B><FONT size=2 face="serif"> </FONT></P>
<P align="left">
<FONT size=2 face="serif"><br>
Securities and Exchange Commission</FONT><BR>
<FONT size=2 face="serif">450 Fifth Street, NW </FONT><BR>
<FONT size=2 face="serif">Washington, DC 20549 </FONT><BR>
<BR>
<FONT size=2 face="serif">Re: Ark Restaurants Corp. </FONT><BR>
<BR>
<FONT size=2 face="serif">Ladies and Gentlemen: </FONT></P>
<P align="left">
<FONT size=2 face="serif">In accordance with the requirements of Section 906 of the Sarbanes-Oxley Act of 2002 (18 USC 1350), each of the undersigned hereby certifies that: </FONT></P>
<div style="margin-left:30px">
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">(i) this report on Form 10-Q fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">(ii) the information contained in this report fairly presents, in all material respects, the financial condition and results of operations of Ark Restaurants Corp. </FONT></P>
</div><P align="left">
<FONT size=2 face="serif">Dated as of this 12th day of May 2009. </FONT></P>
<TABLE width="60%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD width=25% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">/s/ Michael Weinstein</FONT>	</TD>
	<TD width=54%>&nbsp;	</TD>
	<TD width=21% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">/s/ Robert Stewart</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Michael Weinstein</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">Robert Stewart</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Chairman and Chief Executive Officer</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">Chief Financial Officer</FONT>	</TD>
</TR>
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