FAMILY STEAK HOUSES LETTERHEAD
Dear Shareholders:
I have spoken with several of you over the last few weeks regarding the
takeover attempt that Bisco Industries, Inc. and Glen Ceiley have launched
against our Company. Almost all of you have expressed your support for the
Company in its defense against this takeover attempt and we thank you for
that support.
Bisco and Ceiley are corporate raiders - they have tried twice before to take
over companies and have failed. Now they are asking you to vote out the Florida
Control Share Act and the Rights Agreement that your Board of Directors adopted
to protect the Company from corporate raiders. They are saying to you that they
cannot seize control of your Company unless you vote out the Company's
defenses. If you do not want the corporate raider to seize control, this is
what you need to do:
Do not return the GOLD consent card sent to you by Bisco, even to vote against
their proposals. If you have already done so, please mark the REVOCATION box
on the enclosed WHITE revocation of consent card, sign and date the form and
return it in the postage-paid envelope provided.
If your shares are held through a bank or broker, please contact your
representative at that firm and request the representative to execute the WHITE
revocation of consent card on your behalf.
Do not tender your shares to Bisco. If you have already done so, you can have
your shares returned to you by completing the YELLOW Notice of Withdrawal
previously mailed to you.
If you require any assistance, please call our proxy solicitor, Corporate
Investor Communications, at (800) 932-8498.
Thank you.
Sincerely,
Lewis E. Christman, Jr.
President and CEO
Family Steak Houses of Florida, Inc.
