GRILE Grill Concepts Inc. (MM)

Grill Concepts Receives Nasdaq Notification LOS ANGELES, Aug. 27 /PRNewswire-FirstCall/ -- Grill Concepts, Inc. (NASDAQ:GRILE) today announced that because it has not yet filed its Form 10Q for the quarter ended June 27, 2004, Nasdaq has informed the company that it is not in compliance with Marketplace Rule 4310(c)(14), which requires listed companies to provide Nasdaq with copies of all reports required to be filed with the Securities and Exchange Commission (SEC). According to Nasdaq, Grill Concepts' common stock will be delisted from The Nasdaq Stock Market at the opening of business August 31, 2004, unless the company files the delinquent Form 10Q by August 27, 2004 or the company requests a hearing in accordance with Marketplace Rule 4800 Series. Grill Concepts has requested a hearing to stay the delisting. As noted in Grill Concepts' news release and Form 12b-25 filing with the SEC on August 12, 2004, the company required additional time to review the consolidation principles applied to certain affiliates and expected that the manner of accounting for its interest in the Chicago-The Grill on the Alley will change to effectively treat the entity as a wholly-owned entity, resulting in the elimination of the previously recorded minority interest in the restaurant and a restatement of its 2003 and earlier results. Grill Concepts said that the preparation of the restated financial statements and necessary review by its auditors is ongoing and that it expects to complete this process as quickly as possible and will file its quarterly report promptly upon its completion. As a result of the company's filing delinquency, pending the filing of the delinquent report, an "E" has been appended at the end of the company's trading symbol and the company's securities are trading under the symbol "GRILE." About Grill Concepts, Inc. Grill Concepts owns and manages upscale casual and fine dining, full service restaurants under two core brand names: The Grill on the Alley and Daily Grill. The company operates 23 restaurants including four The Grill on the Alley-branded restaurants in Beverly Hills, Hollywood, San Jose, California, and Chicago, as well as 19 Daily Grill restaurants in Southern and Northern California, the Washington, D.C. metropolitan region, Houston, Texas, Portland, Oregon and Skokie, Illinois. This news release contains forward-looking statements, which are based on current operations, plans and expectations. Such statements include, but are not limited to, the timing of the company's filing of its Form 10Q for the period ended June 27, 2004, the outcome of the company's Marketplace Rule 4800 Series hearing before Nasdaq and other factors. Actual results may differ materially from these statements due to risks and uncertainties beyond the company's control, which are detailed from time to time in the company's filings with the United States Securities and Exchange Commission. DATASOURCE: Grill Concepts, Inc. CONTACT: Philip Gay, Chief Financial Officer of Grill Concepts, Inc., +1-310-820-5559; or Roger Pondel or Angie Yang of PondelWilkinson Inc., +1-310-279-5980, , for Grill Concepts, Inc.

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