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(PORTLAND, OR) – October 1, 2007 -- Fog Cutter Capital Group Inc. (OTCBB: FCCG) has announced the opening of the company’s first Fatburger restaurant in China, located in the Venetian® Macao-Resort-Hotel.
Joining Fatburger in this venture is Grammy winning artist and producer Pharrell Williams. Williams, one half of the production duo The Neptunes and the lead singer and drummer of the funk-rock band N.E.R.D., has partnered with the chain to open Fatburger’s first 10 locations in China.
Additional Fatburger restaurants are scheduled to open in Hong Kong in the coming months: the first on Queens Road East and the second at Jia Hotel in Causeway Bay in early 2008. Fatburger also plans to open a Beijing location at Solana – the city’s first lifestyle center – in April 2008. Fatburger estimates call for approximately 25 locations in China by the end of 2010, all company-owned. Additional sites on the horizon include further locations in Hong Kong, Macao, Shenzen, Beijing and Shanghai. Customers will enjoy Fatburger favorites, including imported, fresh, 100 percent pure lean beef burgers, homemade onion rings made from scratch each morning and hand-scooped real ice cream shakes.
Founded in Los Angeles, California in 1952, the Fatburger restaurant chain has 90 restaurants serving big, fresh, 100 percent pure lean beef burgers custom made and grilled right in front of customers in Arizona, California, Colorado, Florida, Georgia, Louisiana, Nevada, New Jersey, New York, Ohio, Pennsylvania, Texas, Virginia, Washington, Canada and now in Macao. Based in Santa Monica, California, the company is actively seeking new franchisees for available territories across the nation. Fatburger is a subsidiary of Fog Cutter Capital Group Inc. (OTCBB: FCCG). For more information, or to find a Fatburger restaurant near you, go to www.fatburger.com.
Forward Looking Statements
Certain statements contained herein may not be based on historical facts and are “Forward-Looking Statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-Looking Statements are based on various assumptions (some of which are beyond the Company’s control) and may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as “may,” “will,” “believe,” “expect,” “anticipate,” “continue,” or similar terms or variations on those terms, or the negative of those terms. Actual results could differ materially from those set forth in Forward-Looking Statements due to a variety of factors, including, but not limited to the following:
• economic factors, particularly in the market areas in which the Company
operates;
• the financial and securities markets and the availability of and costs
associated with sources of liquidity;
• competitive products and pricing;
• the real estate market;
• the ability to maintain liquidity;
• fiscal and monetary policies of the U.S. Government;
• changes in prevailing interest rates;
• changes in currency exchange rates;
• acquisitions and the integration of acquired businesses;
• performance of retail/consumer markets, including consumer preferences
and concerns;
• effective expansion of the Company’s restaurants in new and existing
markets;
• profitability and success of franchisee restaurants;
• availability of quality real estate locations for restaurant expansion;
• the market for the Company’s products;
• credit risk management; and
• asset/liability management.
Except as may be required by law, the Company does not undertake, and specifically disclaims any obligation, to publicly release the results of any revisions which may be made to any Forward-Looking Statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.
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