<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1994
---------------------------------------
[_] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from _____________ to _______________
Commission File Number 1-9684
---------------------------------
CHART HOUSE ENTERPRISES, INC. 401(k) PLAN
- --------------------------------------------------------------------------------
(Full title of plan)
CHART HOUSE ENTERPRISES, INC.
- --------------------------------------------------------------------------------
(Name of issuer of securities held pursuant to the plan)
115 South Acacia Avenue, Solana Beach, California 92075-1803
- --------------------------------------------------------------------------------
(Address of principal executive offices of issuer of securities)
<PAGE>
SIGNATURES
----------
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Plan Administrator has duly caused this annual report to be signed on its
behalf by the undersigned hereunto duly authorized.
CHART HOUSE ENTERPRISES, INC.
By: The 401(k) Plan Committee
Date: June 16, 1995 /s/ ROBERT W. WIEAND
-------------------------------------
Robert W. Wieand
Chairman
/s/ JOHN L. ANDERSON
-------------------------------------
John L. Anderson
Member
/s/ CANDACE R. FORSYTHE
-------------------------------------
Candace R. Forsythe
Member
/s/ TIMOTHY A. HALVERSON
-------------------------------------
Timothy A. Halverson
Member
/s/ KEITH L. HINDENLANG
-------------------------------------
Keith L. Hindenlang
Member
/s/ DAVID S. MCCOART
-------------------------------------
David S. McCoart
Member
-2-
<PAGE>
CHART HOUSE ENTERPRISES, INC. 401(k) PLAN
FINANCIAL STATEMENTS AND SCHEDULES AS OF
DECEMBER 31, 1994 AND 1993
TOGETHER WITH AUDITORS' REPORT
<PAGE>
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
----------------------------------------
To Chart House Enterprises, Inc.:
We have audited the accompanying statements of net assets available for plan
benefits of the CHART HOUSE ENTERPRISES, INC. 401(k) PLAN as of December 31,
1994 and 1993, and the related statement of changes in net assets available for
plan benefits, with fund information, for the year ended December 31, 1994.
These financial statements and the schedules referred to below are the
responsibility of the Plan's management. Our responsibility is to express an
opinion on these financial statements and schedules based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for plan benefits of the Chart
House Enterprises, Inc. 401(k) Plan as of December 31, 1994 and 1993, and the
changes in net assets available for plan benefits, with fund information, for
the year ended December 31, 1994, in conformity with generally accepted
accounting principles.
Our audits were made for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules A and B are
presented for the purpose of additional analysis and are not a required part of
the basic financial statements but are supplementary information required by the
Department of Labor's Rules and Regulations for Reporting and Disclosure under
the Employee Retirement Income Security Act of 1974. The fund information in the
statement of net assets available for benefits and the statement of changes in
net assets available for benefits is presented for purposes of additional
analysis rather than to present the net assets available for plan benefits and
changes in net assets available for plan benefits of each fund. These
supplemental schedules, and fund information, have been subjected to the
auditing procedures applied in the audits of the basic financial statements and,
in our opinion, are fairly stated, in all material respects, in relation to the
basic financial statements taken as a whole.
ARTHUR ANDERSEN LLP
San Diego, California
June 16, 1995
<PAGE>
CHART HOUSE ENTERPRISES, INC. 401(k) PLAN
Statements of Net Assets Available for Plan Benefits
As of December 31, 1994 and 1993
<TABLE>
<CAPTION>
1994 1993
---------- ----------
<S> <C> <C>
Cash $ 918 $ 4,801
---------- ----------
Contributions Receivable -
Company - 43,352
Participant 365 12,485
---------- ----------
365 55,837
---------- ----------
Investments, at Market Value:
Equity Account 1,145,245 1,022,479
Balanced Account 1,029,543 863,768
Income Account 572,609 637,444
Money Market Account 937,176 865,380
Company Stock 2,099,539 2,067,096
---------- ----------
Total Investments 5,784,112 5,456,167
---------- ----------
Total Assets 5,785,395 5,516,805
Less - Excess Contributions Payable (123,245) (69,797)
Non-Allocable Forfeitures (15,724) (19,759)
Overdeposit of Contribution (11,359) -
---------- ----------
Net Assets Available for Plan Benefits $5,635,067 $5,427,249
========== ==========
</TABLE>
The accompanying notes are an integral part of these statements.
<PAGE>
CHART HOUSE ENTERPRISES, INC. 401(k) PLAN
Statement of Changes in Net Assets Available
for Plan Benefits
For the Year Ended December 31, 1994
<TABLE>
<CAPTION>
MONEY COMPANY
EQUITY BALANCED INCOME MARKET STOCK TOTAL
----------- ---------- -------- --------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
Net Assets Available for Plan Benefits
at Beginning of Year $1,027,039 $ 866,413 $642,980 $ 867,561 $2,023,256 $5,427,249
---------- ---------- -------- --------- ---------- ----------
Contributions -
Company - - - - 197,384 197,384
Participant 377,536 269,653 145,880 186,441 246,547 1,226,057
---------- ---------- -------- --------- ---------- ----------
377,536 269,653 145,880 186,441 443,931 1,423,441
---------- ---------- -------- --------- ---------- ----------
Dividend Income and Capital Gain
Distributions 13,742 23,352 42,306 24,260 1,243 104,903
Net Depreciation in Fair Value
of Investments (68,433) (21,746) (82,582) (560) (343,653) (516,974)
---------- ---------- -------- --------- ---------- ----------
(54,691) 1,606 (40,276) 23,700 (342,410) (412,071)
---------- ---------- -------- --------- ---------- ----------
Net Transfer of Funds (63,690) (20,803) (96,115) 17,587 163,021 -
---------- ---------- -------- --------- ---------- ----------
Distributions from Termination,
Withdrawals and Excess Contributions (140,355) (87,003) (79,860) (158,313) (330,697) (796,228)
---------- ---------- -------- --------- ---------- ----------
Non-Allocable Forfeitures - - - 190 3,845 4,035
---------- ---------- -------- --------- ---------- ----------
Overdeposit of Contribution - - (1,589) - (9,770) (11,359)
---------- ---------- -------- --------- ---------- ----------
Net Increase (Decrease) 118,800 163,453 (71,960) 69,605 (72,080) 207,818
---------- ---------- -------- --------- ---------- ----------
Net Assets Available for Plan Benefits
at End of Year $1,145,839 $1,029,866 $571,020 $ 937,166 $1,951,176 $5,635,067
========== ========== ======== ========= ========== ==========
</TABLE>
The accompanying notes are an integral part of this statement.
<PAGE>
CHART HOUSE ENTERPRISES, INC. 401(k) PLAN
-----------------------------------------
NOTES TO FINANCIAL STATEMENTS
-----------------------------
DECEMBER 31, 1994
-----------------
(1) PLAN DESCRIPTION
----------------
Chart House Enterprises, Inc. (the "Company") established the Chart House
Enterprises, Inc. 401(k) (formerly "Thrift") Plan (the "Plan") effective January
1, 1986. The Plan is a defined contribution plan and is subject to the
provisions of the Employee Retirement Income Security Act of 1974 (ERISA).
Participation in the Plan is available to all employees of the Company and its
subsidiaries who have completed at least one year and 1,000 hours of service and
who have reached the age of 21.
Effective January 1, 1988, the Plan was amended to, among other things, permit
participants to make voluntary pre-tax contributions pursuant to Section 401(k)
of the Internal Revenue Code and provide that Company matching contributions be
invested exclusively in common stock of the Company.
Contributions to the Plan are made by the participants and are matched by the
Company. Participants may contribute from 1% to 10% of their gross pay. The
Company will make a basic matching contribution of 25% of the first 5% of a
participant's contribution, not to exceed $1,250 for the Plan year, and will
make a supplemental quarterly matching contribution of an additional 25% of the
first 5% of a participant's contribution if the Company meets or exceeds
targeted results of operations, as determined by the Board of Directors.
Participant contributions are invested by the Plan's trustee in one or more
specified funds (see Note 2) as designated by each participant. Company
contributions are invested solely in shares of the Company's common stock.
Participants are immediately vested in their own contributions and any
investment earnings thereon. Vesting in the Company's matching contributions
and any investment earnings thereon (the "Employer Accounts") is based on years
of continuous service. A participant vests at the rate of 20% per year and
becomes fully vested after five years of continuous service; however, in the
event of termination due to retirement, disability or death, participants become
fully vested regardless of years of service.
Each participant's account is credited with the participant's contributions and
the participant's share of the Company's contributions, together with earnings
and losses thereon. Forfeitures of non-vested amounts resulting from
participants who had terminated employment are to be used solely to offset
future Company matching contributions.
Upon termination of service due to retirement, disability or death, a
participant may elect to receive distribution of benefits in either a lump sum
or an annuity payment. If the termination of services is for any other reason,
distribution of benefits will be made in a lump sum payment.
-1-
<PAGE>
The Company reserves the right to change or terminate the Plan at any time. In
the event of termination of the Plan, the value of each participant's account
will become fully vested and non-forfeitable. The trustee of the Plan will be
directed to pay all liabilities and expenses of the Plan and to distribute the
assets of the Plan to the participants in accordance with the terms of the Plan.
In no event may the assets of the Plan revert to the Company.
(2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
------------------------------------------
Description and Valuation of Investments
- ----------------------------------------
In October 1992, the Company's Board of Directors adopted a resolution approving
the retention of The Consulting Group, a division of Smith Barney Shearson
Company, (formerly Shearson Lehman Brothers, Inc.) as advisor to the Plan.
Subsequently, four new investment managers were selected to manage new equity,
balanced, income and money market fund alternatives. In connection with this
change, SBS Trust Company, a division of Smith Barney Shearson Company, became
trustee of the Plan, effective July 1, 1993, in place of Merrill Lynch Trust
Company.
Investment funds available to the participants include (1) an equity fund
(managed by Provident Investment Council) which invests primarily in equity
securities with emphasis on capital appreciation; (2) a balanced fund (managed
by Value Line Asset Management) which invests in both common stocks and higher
quality fixed-income securities with equal emphasis on current income and
capital appreciation; (3) an income fund (managed by Howe & Rusling Investment
Management) which invests in high quality debt securities with emphasis on
current income; (4) a money market fund (managed by Boston Safe Deposit and
Trust Company), which invests in short-term U.S. Government Securities with
emphasis on current income to the extent consistent with preservation of
capital; and (5) the Company stock fund.
Plan investments are held by SBS Trust Company under a trust agreement effective
July 1, 1993. Investments in securities (summarized on Schedule A) are valued
at their quoted market prices.
Income Tax Status
- -----------------
The Internal Revenue Service has notified the Plan, by letter dated November 8,
1990, that the Plan as amended is qualified under Section 401(a) of the Internal
Revenue Code. Therefore, in management's opinion, the Plan is exempt from
Federal and state income taxes. Accordingly, no income taxes have been provided
for in the accompanying financial statements.
-2-
<PAGE>
Distributions Due to Terminated Participants
- --------------------------------------------
Account balances for participants that have terminated but have yet to be paid
as of the end of the year have been included in the net assets available for
plan benefits. These amounts will be presented as distributions in the
statement of changes in net assets available for plan benefits when actually
paid. At December 31, 1994 and 1993, such amounts totalled $410,856 and
$266,111, respectively.
(3) ADMINISTRATIVE EXPENSES
-----------------------
The Plan's administrative expenses are paid by the Company. These expenses
include, but are not limited to, trustee, legal and accounting fees.
(4) PARTY-IN-INTEREST AND REPORTABLE TRANSACTIONS
---------------------------------------------
No prohibited transactions with "parties-in-interest", as defined under ERISA,
occurred during 1994.
Five-percent reportable transactions, as defined under ERISA, which occurred
during 1994 are summarized on Schedule B.
-3-
<PAGE>
CHART HOUSE ENTERPRISES, INC. 401(k) PLAN SCHEDULE A
Item 27A - Schedule of Assets Held for Investment Purposes
As of December 31, 1994
<TABLE>
<CAPTION>
EQUITY ACCOUNT
(MANAGED BY PROVIDENT INVESTMENT COUNCIL) Units Market
Asset Description Held Cost Value
- ----------------- ------- -------- --------
<S> <C> <C> <C>
SHORT TERM INVESTMENTS
Reserve Deposit Acct. (RDA VI) 186,584 $186,584 $187,865
EQUITIES AND CONVERTIBLES
American Intl Group Inc. 70 6,151 6,860
Federal Home Ln Mtg Corp. - Common 145 7,954 7,323
Federal Natl Mtg Assn 470 39,359 34,251
First Financial Mgmt Corp. 290 16,138 17,871
MBNA Corp. 1,265 27,071 29,569
Mercury Fin Co. 560 8,829 7,280
Cardinal Health Inc. 190 7,776 8,811
Humana Inc. 370 7,346 8,371
Medtronic Inc. 205 10,724 11,403
Oxford Health Plans Inc. 85 5,671 6,736
Sun Healthcare Group Inc. 240 5,585 6,090
United Healthcare Corp. 1,005 38,626 45,351
Coca Cola Co. 230 11,126 11,845
Gillette Co. 190 12,142 14,226
Airtouch Communications Inc. 400 10,384 11,650
Captial Cities ABC Inc. 490 36,152 41,773
Carnival Corp. Cl A 500 11,693 10,625
First Data Corp. 650 27,053 30,794
General Instr Corp. New 200 5,192 6,000
Home Depot Inc. 1,140 48,450 52,440
Hospitality Franchise Sys Inc. 190 5,605 5,035
Lowes Cos Inc. 395 14,024 13,726
Manpower Inc. Wis 215 5,693 6,047
Office Depot Inc. 860 19,593 20,237
Sunbeam-Oster Inc. 235 5,745 6,051
Talbots Inc. 225 7,791 7,031
Toys R Us Inc. 155 5,735 4,747
U.S. Healthcare Inc. 1,075 38,387 44,344
Wal Mart Stores Inc. 1,470 39,235 31,238
Harley Davidson 300 7,732 8,400
Enron Corp. 1,165 39,243 35,533
Pittston Services Group 335 9,548 8,794
Analog Devices Inc. 180 5,490 6,323
Applied Matls Inc. 300 15,952 12,675
Automatic Data Processing Inc. 285 13,952 16,673
Compaq Computer Corp. 310 10,770 12,245
</TABLE>
<PAGE>
CHART HOUSE ENTERPRISES, INC. 401(k) PLAN SCHEDULE A (Continued)
Item 27A - Schedule of Assets Held for Investment Purposes
As of December 31, 1994
<TABLE>
<CAPTION>
EQUITY ACCOUNT - CONTINUED
(MANAGED BY PROVIDENT INVESTMENT COUNCIL) Units Market
Asset Description Held Cost Value
- ----------------- ----- ---------- ----------
<S> <C> <C> <C>
Computer Sciences Corp. 160 6,870 8,160
Danka Business Sys Plc Sponsored ADR 340 7,543 7,353
Hewlett Packard Co. 245 22,409 24,469
Microsoft Corp. 810 34,027 49,511
Motorola Inc. 980 43,835 56,840
Oracle Sys Corp. 690 18,636 30,446
Sensormatic Electronics Corp. 485 17,036 17,460
Grupo Tribasa S A DE C V Sponsored ADR 150 4,918 2,494
Browning Ferris Industries Inc. 125 3,648 3,547
Compuware Corp. 120 5,744 4,320
ALC Communications Corp. New 205 6,867 6,381
Ericsson L M Tel Co. ADR Cl B SEK 10 605 29,487 33,350
Hong Kong Telecommunications Ltd - Sponsored ADR 475 6,960 9,084
MCI Communications Corp. 280 6,353 5,145
Autozone Inc. 1,100 29,823 26,675
Cabletron System Inc. 162 8,352 7,533
First USA Inc. 480 17,877 15,780
GFC Financial Corp. 250 9,035 7,937
Kohls Corp. 190 9,120 7,552
Loewen Group Inc. 455 10,885 12,057
MGIC Investment Corp. Wis 390 11,189 12,918
---------- ----------
TOTAL EQUITY ACCOUNT $1,085,115 $1,145,245
========== ==========
</TABLE>
<PAGE>
CHART HOUSE ENTERPRISES, INC. 401(k) PLAN SCHEDULE A (Continued)
Item 27A - Schedule of Assets Held for Investment Purposes
As of December 31, 1994
<TABLE>
<CAPTION>
BALANCED ACCOUNT
(MANAGED BY VALUE LINE ASSET MANAGEMENT) Units Market
Asset Description Held Cost Value
- ----------------- ------- ---------- --------
<S> <C> <C> <C>
SHORT-TERM INVESTMENTS
Reserve Deposit Acct. (RDA VI) 131,803 $ 131,803 $138,768
GOVERNMENT
United States Treasury Notes 200,000 200,937 197,124
(8/2/93 4 1/4% 7/31/1995)
United States Treasury Bonds 100,000 96,344 92,312
(8/15/92 7 1/4% 8/15/2022)
EQUITIES AND CONVERTIBLES
Abbott Labs 500 14,688 16,313
Manor Care Inc. 500 13,113 13,688
Hudson Foods Inc. 700 11,200 17,587
Sherwin Williams Co. 300 10,763 10,013
Capital Cities ABC Inc. 200 16,275 17,050
Home Depot Inc. 300 13,650 13,800
La Quinta Inns Inc. 700 14,525 14,962
Media Gen. Inc. 500 14,463 14,188
Mirage Resorts Inc. 1,000 19,225 20,500
Safeway Inc. 600 14,475 19,125
Walgreen Co. 300 12,588 13,088
Newell Co. 600 13,725 12,600
Halliburton Co. 500 17,275 16,563
Pogo Producing Co. 1,000 19,362 17,750
Sonat Inc. 500 15,388 14,000
Wainoco Oil Corp. 3,000 14,250 14,250
Delta Air Lines Inc. 400 18,825 20,200
Adobe Systems Inc. 600 20,875 17,850
BMC Software Inc. 300 19,500 17,063
Hewlett Packard Co. 100 8,625 9,987
International Business Machines Corp. 200 14,175 14,700
Molex Inc. 312 10,546 10,764
Oracle System Corp. 500 21,000 22,062
Park Electrochemical Corp. 500 15,812 14,875
Sun Microsystems Inc. 600 19,825 21,300
First Miss Corp. 700 10,762 17,500
General Binding Corp. 800 16,437 15,600
Praxair Inc. 1,500 32,075 30,750
Sealed Air Corp. 300 8,962 10,875
</TABLE>
<PAGE>
CHART HOUSE ENTERPRISES, INC. 401(k) PLAN SCHEDULE A (Continued)
Item 27A - Schedule of Assets Held for Investment Purposes
As of December 31, 1994
<TABLE>
<CAPTION>
BALANCED ACCOUNT
(MANAGED BY VALUE LINE ASSET MANAGEMENT) Units Market
Asset Description Held Cost Value
- ----------------- ------- ---------- ---------
<S> <C> <C> <C>
Texas Inds. Inc. 300 10,612 10,575
Worthington Inds. Inc. 700 15,550 14,000
Black & Decker Corp. 800 19,775 19,000
CTS Corp. 600 17,912 16,650
Fedders Corp. 2,500 13,625 17,812
Fedders Corp. (Cl A Non Vtg) 1,250 6,812 6,562
Fluor Corp. 300 16,075 12,937
Idex Corp. 400 15,225 16,900
Premark International Inc. 400 16,812 17,900
TOTAL BALANCED ACCOUNT $1,013,866 $1,029,543
========== ==========
</TABLE>
<PAGE>
CHART HOUSE ENTERPRISES, INC. 401(k) PLAN SCHEDULE A (Continued)
Item 27A - Schedule of Assets Held for Investment Purposes
As of December 31, 1994
<TABLE>
<CAPTION>
INCOME ACCOUNT
(MANAGED BY HOWE & RUSLING INVESTMENT
MANAGEMENT) Units Market
Asset Description Held Cost Value
- ----------------- ------- -------- --------
<S> <C> <C> <C>
SHORT-TERM INVESTMENTS
Reserve Deposit Acct. (RDA VI) 17,651 $ 17,651 $ 26,932
GOVERNMENT
United States Treasury Notes 25,000 26,523 24,480
(6 1/2% 11/30/96)
United States Treasury Notes 75,000 82,008 73,453
(7 1/8% 10/15/98)
United States Treasury Notes 100,000 113,687 100,250
(7 7/8% 11/15/99)
United States Treasury Notes 25,000 26,539 26,149
(8 7/8% 5/15/2000)
United States Treasury Notes 50,000 52,680 49,086
(7 1/2% 11/15/2001)
United States Treasury Bonds 100,000 123,844 110,906
(9 3/8% 2/15/2006)
United States Treasury Notes 35,000 32,186 30,521
(5 7/8% 2/15/2004)
CORPORATE
CIT Group Hlgds Inc. Note (8 3/4% 4/15/98) 20,000 22,585 20,228
ITT Finl. Corp. Deb (8 1/8% 11/15/98) 25,000 27,670 24,741
Xerox Cr Corp Note (10% 4/01/99) 25,000 29,947 26,297
Philip Morris Co. Inc. Notes (7 1/8% 12/01/99) 25,000 26,403 23,665
Bear Stearns Cos Inc. Sr Note (9 3/8% 6/01/2001) 25,000 29,459 25,697
Ford Motor Co. Del (9% 9/15/2001) 10,000 11,904 10,204
-------- --------
TOTAL INCOME ACCOUNT $623,086 $572,609
======== ========
</TABLE>
<PAGE>
CHART HOUSE ENTERPRISES, INC. 401(k) PLAN SCHEDULE A (Continued)
Item 27A - Schedule of Assets Held for Investment Purposes
As of December 31, 1994
<TABLE>
<CAPTION>
MONEY MARKET ACCOUNT
(MANAGED BY BOSTON SAFE DEPOSIT & TRUST CO.) Units Market
Asset Description Held Cost Value
- ----------------- ------- ---------- ----------
<S> <C> <C> <C>
Reserve Deposit Acct. (RDA VI) 279 279 313
Employee Benefit Deposit Acct. (EBDA) 934,207 $ 934,207 $ 936,863
---------- ----------
TOTAL MONEY MARKET ACCOUNT $ 934,486 $ 937,176
========== ==========
<CAPTION>
COMPANY STOCK ACCOUNT
Units Market
Asset Description Held Cost Value
- ----------------- ------- ---------- ----------
<S> <C> <C> <C>
SHORT-TERM INVESTMENTS
Reserve Deposit Acct. (RDA VI) 28,187 $ 28,187 $ 28,292
EQUITIES AND CONVERTIBLES
Chart House Enterprises, Inc. 220,933 1,877,544 2,071,247
---------- ----------
TOTAL COMPANY STOCK ACCOUNT $1,905,731 $2,099,539
========== ==========
TOTAL INVESTMENTS HELD $5,562,284 $5,784,112
========== ==========
</TABLE>
<PAGE>
CHART HOUSE ENTERPRISES, INC. 401(k) PLAN SCHEDULE B
Item 27D - Schedule of Reportable Transactions
For the Year Ended December 31, 1994
<TABLE>
<CAPTION>
SERIES OF TRANSACTIONS
- ----------------------
Number in Series Dollar Value Of
Identity of ----------------- ----------------------- Net Gain
Party Involved Asset Description Purchases Sales Purchases Sales Cost (a) (Loss)
- --------------------- ------------------------ --------- ----- ---------- ---------- ---------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
Chart House
Enterprises, Inc. Common Stock 13 6 $ 639,688 $ 203,461 $ 148,159 $55,301
SBS Trust Co. Reserve Deposit Account
(RDA VI) 379 256 2,916,834 2,897,802 2,897,802 -
SBS Trust Co. Employee Benefit Deposit
Account (EBDA) 81 42 321,582 251,113 251,113 -
</TABLE>
(a) Cost was equal to market value on transaction date.
<PAGE>
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
-----------------------------------------
As independent public accountants, we hereby consent to the incorporation
of our report included in this Annual Report on Form 11-K for the Chart House
Enterprises, Inc. 401(k) Plan into the Chart House Enterprises Inc.'s previously
filed Registration Statement File No. 33-34947 for the Plan.
ARTHUR ANDERSEN LLP
San Diego, California
June 16, 1995
