Prime Restaurants Chosen As One Of Canada's 50 Best Managed Companies For The Fourth Year In A Row

MISSISSAUGA, ON | Wednesday, January 14, 2004

Prestigious Award Recognizes Leadership in Canadian Business

Prime Restaurants of Canada, one of the country's leading operators and franchisors of casual dining chains, has done it again. For the fourth consecutive year, the company has been honoured as one of Canada's 50 Best Managed Companies.

"Once again, I am proud to say that I am part of an exceptional team made up of hard-working and dedicated individuals," said John Rothschild, CEO, Prime Restaurants. "It is this team effort and commitment to achieving our mission of treating each customer as a guest in our home that has allowed us to be a leader in Canadian marketplace." The 50 Best Managed Companies program, sponsored by Deloitte & Touche, CIBC Commercial Banking, National Post, and the Queen's School of Business, was created in 1993 to recognize successful Canadian companies that have proven to be innovative, responsive to changing economic conditions and profitable. The program profiles Canadian businesses that have outstripped their competitors, created thousands of jobs, produced accelerating revenues and excelled both domestically as well as in foreign markets.

"As we continue to grow and explore new options and directions, we never lose sight of our main focus - our guests," said Nick Perpick, President and COO of Prime Restaurants. "Our ability to adapt to new tastes and trends allows us to make every dining experience a memorable one for our guests." After requalifying twice following the first 50 Best win in 2000, a standard practice among 50 Best winners, Prime Restaurants was required to submit a new application to earn a spot as one of Canada's 50 Best in 2003. Unlike the requalification process, a new submission includes a two-pronged judging process. The first step requires a company to have revenues between $10 million and $1.5 billion, strong growth over the last three years, more than 50 per cent Canadian ownership, closely held by Canadians and, if public, less than 50 per cent of their shares publicly traded. The second step is an intense, in-depth interview with the company's CEO and management team.

Prime Restaurants of Canada Inc. operates and franchises one of Canada's leading chains of casual dining restaurants and premium pubs. As a pioneer in the Canadian casual dining industry since 1979, it is considered an important innovator in the development of brands and today has a diversified portfolio of concepts that include: East Side Mario's, Casey's Bar & Grill, a Belgian-style brasserie operating under the trade-mark Esplanade Bier Markt, and a family of authentic Irish pubs operating under the trade-marks Fionn MacCool's, D'Arcy McGee's, Paddy Flaherty's, Tir nan Og and Slainte, as well as RD's Ribs, and Pat and Mario's. Prime Restaurants employ over 9,000 people across the country.

Prime Restaurants Royalty Income Fund is listed on the Toronto Stock Exchange under the symbol EAT.UN.

FOR FURTHER INFORMATION: Aline Bardakjian Paul Zanettos Thornley Fallis Communications Thornley Fallis Communications 416-515-7517, ext. 232 416-515-7517, ext. 227 bardakjian@thornleyfallis.com zanettos@thornleyfallis.com

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Prime Restaurants
10 Kingsbridge Garden Circle, Suite 600
Mississauga, ON

Phone: (905) 568-0000
Toll Free: (800) 361-3111
Fax: (905) 568-0080

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