<PAGE>
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
Prandium, Inc. Announces the Completion of El Torito Sale, Irvine, California,
June 28, 2000 - Prandium, Inc. (OTCBB: PDIM) announced today that it has
completed the sale of its El Torito Restaurant Division to Acapulco Acquisition
Corp. of Long Beach, California.
Under the terms of the sale, Prandium received, subject to certain post closing
adjustments based on a closing balance sheet, net cash proceeds of $114.7
million. Prandium expects to record a pretax gain and positive earnings per
share in the third quarter of fiscal 2000 as a result of this transaction. A
portion of the net cash proceeds from the sale were used to repay certain
indebtedness. Additional alternative uses of the remaining net cash proceeds are
being explored by Prandium.
This press release contains certain forward-looking statements and comments
within the safe harbor provisions established under The Private Securities
Litigation Reform Act of 1995. These statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results of Prandium,
Inc., its subsidiaries, divisions and concepts to be materially different than
those expressed or implied in such statements. These factors include, but are
not limited to: the continuing development of successful marketing strategies
for each of the Company's concepts; the effect of national and regional economic
conditions; the ability of Prandium to satisfy its debt obligations; the
availability of adequate working capital; competitive products and pricing;
changes in legislation; demographic changes; the ability to attract and retain
qualified personnel; changes in business strategy or development plans; business
disruptions; changes in consumer preferences, tastes and eating habits; and
increases in food and labor costs. These risk factors and others are discussed
from time to time in the periodic reports and filings of Prandium, Inc. with
the Securities and Exchange Commission, including but not limited to its
Form 10-Ks and Form 10-Qs.
Prandium operates a portfolio of full-service and fast-casual restaurants in the
United States and also licenses its concepts outside the United States.
Prandium, Inc. is located at 18831 Von Karman Avenue, Irvine, CA 92612. To
contact the company call (949) 757-7900, or the toll-free investor information
line at (888) 288-PRAN, or link to www.prandium.com. Address email to
[email protected].
Prandium, Chi-Chi's, Hamburger Hamlet and Koo Koo Roo are registered trademarks
or service marks of their respective holders. (c)Prandium, Inc. 2000. All
rights reserved.
###
