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ShowBiz Pizza Time, Inc.
(Name of Registrant as Specified in Its Charter)
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News Release
SITRICK AND COMPANY, INC.
Los Angeles/New York
Contact: Michael Sitrick
Lance Ignon
Sitrick And Company
(310) 788-2850
IRVING, TEXAS -- MAY 23, 1995 -- ShowBiz Pizza Time, Inc.
(Nasdaq: SHBZ) today released the following statement in
response to media requests for information regarding Joshua S.
Friedman seeking a seat on the Company's board of directors.
"ShowBiz Pizza Time intends to respond more fully in a letter to
shareholders regarding Joshua S. Friedman's effort to gain a seat
on the Company's board of directors. Mr. Friedman is a partner
with and financial adviser of Bennett S. LeBow. In our opinion,
Mr. Friedman may have conflicts of interest because of his
financial arrangements with LeBow with respect to LeBow's
investments in ShowBiz Pizza. Given LeBow's history of utilizing
the companies he controls for what we believe is his own personal
financial enrichment, we do not feel that it is in our
shareholders' best interests for him or any of his affiliates or
associates to have a seat on ShowBiz Pizza Time's board of
directors. In our opinion, this could fractionalize our board
and, at a minimum, pose a distraction to management at a time
when it is devoting much of its energy to the company's
remodeling program -- a program, incidentally, that LeBow and his
affiliates have endorsed."
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1875 Century Park East, Suite 950
Los Angeles, CA 90067
(310) 788-2850 Fax: (310) 788-2855
