<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, 1996
-----------------
[_] 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. CORPORATE EMPLOYEES 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.
CORPORATE EMPLOYEE 401(k) PLAN
By: The 401(k) Plan Committee
Date: May 28, 1997 /s/LEWIS M. JACKSON
-------------------
Lewis M. Jackson
Chairman
/s/JOHN L. ANDERSON
-------------------
John L. Anderson
Member
/s/CANDACE R. FORSYTHE
----------------------
Candace R. Forsythe
Member
/s/KEITH L. HINDENLANG
----------------------
Keith L. Hindenlang
Member
/s/STEPHEN J. MCGILLIN
----------------------
Stephen J. McGillin
Member
/s/ANNETTE M. PECK
------------------
Annette M. Peck
Member
-2-
<PAGE>
CHART HOUSE ENTERPRISES, INC. CORPORATE EMPLOYEES 401(k) PLAN
FINANCIAL STATEMENTS AND SCHEDULES AS OF
DECEMBER 31, 1996
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. CORPORATE EMPLOYEES 401(k) PLAN as
of December 31, 1996 and December 31, 1995, and the related statement of changes
in net assets available for plan benefits, with fund information, for the year
ended December 31, 1996. 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. Corporate Employees 401(k) Plan as of December 31, 1996
and December 31, 1995 and the changes in net assets available for plan benefits,
with fund information, for the year ended December 31, 1996, 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
May 28, 1997
<PAGE>
CHART HOUSE ENTERPRISES, INC. CORPORATE EMPLOYEES 401(k) PLAN
Statements of Net Assets Available for Plan Benefits
As of December 30, 1996 and 1995
<TABLE>
<CAPTION>
1996 1995
---------- ----------
<S> <C> <C>
Cash $ 1,377 $ 783
---------- ----------
Receivable from Trustee 10,098 -
---------- ----------
11,475 -
---------- ----------
Investments, at Market Value:
Total Investment in Master Trust 4,813,264 6,416,481
---------- ----------
Total Assets 4,824,739 6,417,264
Less - Excess Contributions Payable (23,165) (160,253)
Non-Allocable Forfeitures (15,328) (6,749)
Overdeposit of Contribution (18,528) (2,504)
---------- ----------
Net Assets Available for Plan Benefits $4,767,718 $6,247,758
========== ==========
</TABLE>
The accompanying notes are an integral part of this statement.
<PAGE>
CHART HOUSE ENTERPRISES, INC. CORPORATE EMPLOYEES 401(k) PLAN
Statement of Changes in Net Assets Available
for Plan Benefits
For the Year Ended December 31, 1996
<TABLE>
<CAPTION>
1996
-----------
<S> <C>
Net Assets Available for Plan Benefits at Beginning of Year $ 6,247,758
-----------
Transfer to Chart House Enterprises, Inc.
Restaurant Employees 401(k) Plan (1,523,602)
-----------
Receivable from Trustee 10,098
Contributions -
Company 173,953
Participant 1,013,782
-----------
1,197,833
-----------
Dividend Income and Capital Gain Distributions 115,005
Net Appreciation (Depreciation) in Fair Value from Master
Trust Investments 122,366
-----------
237,371
-----------
Net Transfer of Funds -
-----------
Distributions from Termination, Withdrawals and Excess
Contributions (1,361,596)
-----------
Non-Allocable Forfeitures (30,046)
-----------
Net Increase (Decrease) (1,480,040)
-----------
Net Assets Available for Plan Benefits at End of Year $ 4,767,718
===========
</TABLE>
The accompanying notes are an integral part of this statement.
<PAGE>
CHART HOUSE ENTERPRISES, INC. CORPORATE EMPLOYEES 401(k) PLAN
-------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS
-----------------------------
DECEMBER 31, 1996
-----------------
(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). The
Plan is administered by the William Mercer Incorporated (the "Administrator")
and all plan investments are held by SBS Trust Company, a division of Smith
Barney Shearson Company (the "Trustee"). Participation in the Plan is available
to substantially all Corporate employees with a job title classification A01
through E60, 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, 1996, the Plan was amended and assets for Restaurant
employees with job classification titles from J01 through J99 were spun off and
transferred to the Chart House Enterprises, Inc. Restaurant Employees 401(k)
Plan.
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, not to exceed $1,250, 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 among the available funds in accordance with the
participants election to their investment account.
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 service. A participant vests at the rate of 20% per year and becomes fully
vested after five years of 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 are to be used solely to
offset future Company matching contributions.
Upon termination of service due to retirement or disability, a participant may
elect to receive distribution of benefits in either a lump sum or partial
payments, with remaining balance distributed at the end of the quarter. If the
termination of services is for any other reason, distribution of benefits will
be made in a lump sum payment. Participants may apply for hardship distributions
under certain circumstances.
-1-
<PAGE>
The Company reserves the right to amend 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. In no event may the assets of the
Plan revert to the Company.
(2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
------------------------------------------
Description and Valuation of Investments
- ----------------------------------------
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 (a division of Smith Barney
Shearson Company) under a trust agreement effective July 1, 1993. Investments
in securities (summarized on Schedule A) are valued at their quoted market
prices.
Master Trust Allocation
- -----------------------
Investment income and administrative expenses relating to the Master Trust are
allocated to the individual plans based on average monthly balances invested by
each plan. The Plan's interest in the assets of the Master Trust is included in
the accompanying statements of net assets available for plan benefits. A
summary of the net assets of the Master Trust as of December 31, 1996 and 1995
is as follows:
<TABLE>
<CAPTION>
1996 1995
-------------- --------------
<S> <C> <C>
Investments, at Market Value:
Equity Account $2,296,609 $1,781,475
Balanced Account 1,686,413 1,533,739
Income Account 465,498 571,427
Money Market Account 1,001,660 1,135,420
Company Stock 882,151 1,382,595
Contribution and Disbursement 4,500 11,825
---------- ----------
6,336,831 6,416,481
Receivables 11,475 783
Liabilities (65,105) (169,506)
---------- ----------
Net Assets of the Master Trust $6,283,201 $6,247,758
========== ==========
</TABLE>
-2-
<PAGE>
Allocations of the net assets of the Master Trust to participating plans as of
December 31, 1996 is as follows:
<TABLE>
<CAPTION>
1996
---------------------
Amount Percent
----------- -------
<S> <C> <C>
Chart House Enterprises, Inc.
Corporate Employees 401(k) Plan $4,767,718 75.88
Chart House Enterprises, Inc.
Restaurant Employees 401(k) Plan 1,515,483 24.12
---------- -------
$6,283,201 100.00
========== =======
</TABLE>
Income from the Master Trust allocated to the participating plans for the years
ended December 31, 1996 and 1995 is as follows:
<TABLE>
<CAPTION>
1996 1995
---------------- --------------
<S> <C> <C>
Interest Income $ 1,623 $ (193)
Income on Equity Account 20,158 13,921
Income on Balanced Account 31,894 33,022
Income on Income Account 36,948 42,977
Income on Money Market Account 38,592 39,463
Income on Common Stock Account 453 1,153
Income on Contribution and Disbursement
Account 443 235
Net Appreciation in Fair Value of
Investments 138,434 (100,880)
-------- ---------
Net Investment Income $268,545 $ 29,698
======== =========
</TABLE>
The net appreciation in the fair value of investments in the Master Trust by
major investment category for the years ended December 31, 1996 and December 31,
1995 is as follows:
<TABLE>
<CAPTION>
1996 1995
---------- ---------
<S> <C> <C>
Equity Account $ 384,114 $ 305,537
Balanced Account 226,977 251,701
Income Account (32,320) 42,046
Money Market Account 11,071 (1,013)
Common Stock Account (443,534) (706,639)
Contribution and Disbursement
Account (7,874) 7,488
--------- ---------
Net Appreciation in Fair
Value of Investments $ 138,434 $(100,880)
========= =========
</TABLE>
-3-
<PAGE>
Income Tax Status
- -----------------
The Plan obtained its last determination letter from the Internal Revenue
Service on June 26, 1995. At that time the Plan was deemed to be designed to
satisfy the qualification requirements, and consequently the related trust
appeared to satisfy the tax exempt requirement of the Internal Revenue Code. The
Plan administrator and tax counsel believe that the Plan is currently designed
and being operated in compliance with the qualification requirements of the
Internal Revenue Code, and the related trust was tax exempt as of the financial
statement date.
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. This amount will be presented as a distribution in the statement
of changes in net assets available for plan benefits when actually paid. At
December 1996 this amount totalled $293,848.
(3) ADMINISTRATIVE EXPENSES
-----------------------
In the current year, the Plan's administrative expenses are paid by the Company.
These expenses include, but are not limited to, trustee, legal and accounting
fees. Transaction related costs, such as commissions, are deducted from
proceeds at the time of the transaction.
(4) PARTY-IN-INTEREST AND REPORTABLE TRANSACTIONS
---------------------------------------------
No prohibited transactions with "parties-in-interest", as defined under ERISA,
occurred during 1996.
Five-percent reportable transactions, as defined under ERISA, which occurred
during 1996 are summarized on Schedule B.
-4-
<PAGE>
SCHEDULE A
CHART HOUSE ENTERPRISES, INC. CORPORATE EMPLOYEES 401(k) PLAN
Item 27A - Schedule of Assets Held for Investment Purposes
As of December 31, 1996
<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) 54,713 $54,713 $54,713
Equities and Convertibles
American Intl Group Inc. 146 10,161 15,826
Associates First Cap Corp. CL A 504 19,442 22,251
Federal Home Ln Mtg Corp. -
Common 215 16,686 23,731
Federal Natl Mtg Assn 1,790 44,697 67,362
First USA Inc. 672 15,141 23,281
MBNA Corp. 1,700 45,767 70,782
MGIC Invt Corp. Wis 258 7,402 19,608
Amgen Inc. 594 33,264 32,309
Cardinal Health Inc. 586 21,122 34,156
Elan Plc ADR 266 7,651 8,838
Healthsouth Corp. 504 13,799 19,477
Lilly Eli & Co. 383 24,866 27,966
Medtronic Inc. 837 28,819 56,885
Merck & Co. Inc. 457 27,988 36,418
Oxford Health Plans Inc. 735 21,986 43,038
Pfizer Inc. 1,009 55,207 83,709
Gillette Co. 442 19,757 34,345
Nike Inc. CL B 422 26,127 25,331
Tommy Hilfiger Corp. ORD 379 18,997 18,201
Accustaff Inc. 340 10,519 7,184
CUC Intl. Inc. 950 22,596 23,036
Circus Circus Enterprises Inc. 387 13,884 13,303
Disney Walt 458 28,929 31,956
First Data Corp. 1,934 42,955 70,599
Hospitality Franchise Sys Inc. 872 31,149 52,086
Home Depot Inc. 328 16,593 16,460
Kohls Corp. 332 10,591 13,042
Mirage Resorts Inc. 1,446 29,265 31,277
Paychex Inc. 322 8,168 16,568
Republic Inds. Inc. 688 10,449 21,457
Safeway Inc. New 606 27,093 25,902
Service Corp. Intl. 692 14,712 19,373
Staples 697 13,858 12,597
Enron Corp. 426 14,336 18,375
Schlumberger Ltd. 184 18,021 18,350
Tasco Corp., New 215 10,616 17,012
</TABLE>
<PAGE>
SCHEDULE A (Continued)
CHART HOUSE ENTERPRISES, INC. CORPORATE EMPLOYEES 401(k) PLAN
Item 27A - Schedule of Assets Held for Investment Purposes
As of December 31, 1996
<TABLE>
<CAPTION>
Equity Account - Continued
(Managed by Provident
Investment Council) Units Market
Asset Description Held Cost Value
- -------------------------------- ------ ------- -------
<S> <C> <C> <C>
ADC Telecommunications Inc. 430 13,292 13,384
Analog Devices Inc. 860 17,156 29,133
Andrew Corp. 299 8,982 15,889
Automatic Data Processing Inc. 207 6,116 8,883
British Sky Broadcasting Group
Plc Sponsored ADR 254 7,811 13,340
Ceridian Corp. 321 15,948 12,982
Cisco Sys Inc. 704 23,190 44,769
Computer Assoc Intl Inc. 860 29,643 42,785
Computer Sciences Corp. 297 17,149 24,399
Danka Business Sys Plc
Sponsored ADR 395 15,923 13,966
Electronic Data Sys. Corp. New 426 22,356 18,428
Lucent Technologies Inc. 684 32,215 31,639
Microsoft Corp. 1,118 32,051 92,376
Oracle Corp. 1,084 18,214 45,273
Gucci Group NV SHS NY Registry 172 13,228 10,987
Monsanto Co. 567 16,356 22,035
Ascend Communications Inc. 258 19,098 16,028
Thermo Electron Corp. 537 22,211 22,156
Tyco Intl Ltd. 700 21,601 36,998
Ericsson L M Tel Co. ADR Cl B
SEK 10 2,686 39,627 81,072
Worldcom Inc. 891 20,530 23,229
AES Corp. 403 19,043 18,723
Boston Scientific Corp. 504 25,770 30,256
----------- -----------
Total Equity Account $ 1,294,836 $ 1,795,534
=========== ===========
</TABLE>
<PAGE>
SCHEDULE A (Continued)
CHART HOUSE ENTERPRISES, INC. CORPORATE EMPLOYEES 401(k) PLAN
Item 27A - Schedule of Assets Held for Investment Purposes
As of December 31, 1996
<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) 121,888 $121,888 $121,888
Government
United States Treasury Notes 167,387 166,864 172,330
(2/28/95 7 1/8% 2/29/2000)
Equities and Convertibles
American Bankers Ins. Group Inc. 335 14,270 17,115
American Financial Group Inc. 502 16,885 18,957
American Intl Group Inc. 188 13,072 20,384
Dime Bancorp. Inc. New 1,674 22,180 24,690
Fifth Third Bancorp 439 15,452 27,600
First Empire St. Corp. 84 19,752 24,104
Green Tree Financial Corp. 670 13,140 25,861
Greenpoint Financial Corp. 418 12,031 19,877
Amgen Inc. 502 16,832 27,305
Healthcare Compare Corp. 502 15,190 21,279
Johnson & Johnson 566 15,093 28,147
Medtronic Inc. 502 19,082 34,147
Merck & Co. Inc. 335 13,527 26,656
Millipore Corp. 502 17,199 20,777
Schering Plough Corp. 418 16,032 27,096
Stryker Corp. 670 14,814 20,003
Coca Cola Co. 502 14,437 26,426
Gillette Co. 418 17,706 32,536
CUC International Inc. 879 17,576 21,311
La Quinta Inns Inc. 879 12,156 16,807
Manpower Inc Wis 502 14,688 16,320
Marriott International Inc. 418 19,040 23,120
Staples Inc. 942 12,031 17,007
Sysco Corp. 502 13,809 16,383
ADC Telecommunications Inc. 837 13,077 26,050
Andrew Corp. 502 17,157 26,646
Cisco Sys Inc. 837 14,542 53,250
Computer Assoc Intl Inc. 565 15,002 28,105
Danka Business Sys Plc
Sponsored ADR 586 16,257 20,725
Emccorp Mass 670 12,889 22,179
Intel Corp. 293 19,077 38,355
Microsoft Corp. 335 15,441 27,661
</TABLE>
<PAGE>
SCHEDULE A (Continued)
CHART HOUSE ENTERPRISES, INC. CORPORATE EMPLOYEES 401(k) PLAN
Item 27A - Schedule of Assets Held for Investment Purposes
As of December 31, 1996
<TABLE>
<CAPTION>
Balanced Account - Continued
(Managed by Value Line Asset
Management) Units Market
Asset Description Held Cost Value
- ------------------------------- ------- ----------- -----------
<S> <C> <C> <C>
Oracle Corp. 628 17,315 26,207
Tellabs Inc. 670 11,382 25,192
Teradyne Inc. 670 13,768 16,320
Alco Std Corp. 502 20,464 25,924
Chemfirst Inc. 586 6,778 13,548
Getchell Gold Corp. 414 5,487 15,898
Mississippi Chem Corp. New 195 2,372 4,696
Praxair Inc. 1,255 26,845 57,905
Arrow Electrs Inc. 335 16,990 17,910
Black & Decker Corp. 1,172 31,993 35,298
Moog Inc. CL A 586 12,721 13,695
Thermo Electron Corp. 628 18,413 25,893
Worldcom Inc. 837 19,040 21,813
Idex Corp. 502 12,742 20,024
----------- -----------
Total Balanced Account $ 1,004,498 $ 1,411,420
=========== ===========
</TABLE>
<PAGE>
SCHEDULE A (Continued)
CHART HOUSE ENTERPRISES, INC. CORPORATE EMPLOYEES 401(k) PLAN
Item 27A - Schedule of Assets Held for Investment Purposes
As of December 31, 1996
<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) 14,728 $ 14,728 $ 14,728
Government
United States Treasury Notes 18,336 20,846 19,210
(7 7/8% 11/15/1999)
United States Treasury Notes 36,672 38,638 38,603
(7 1/2% 11/15/2001)
United States Treasury Notes 18,336 18,115 18,313
(6 1/4% 2/15/2003)
United States Treasury Notes 32,185 23,606 24,993
(5 7/8% 2/15/2004)
United States Treasury Notes 18,336 19,522 19,293
(7 1/4% 5/15/2004)
United States Treasury Bonds 73,344 90,832 88,266
(9 3/8% 2/15/2006)
United States Treasury Bonds 22,003 21,811 22,144
(6 1/2% 8/15/2005)
United States Treasury Bonds 47,674 49,216 49,529
(7% 7/15/2006)
Corporate
Xerox Cr Corp Note (10% 4/01/99) 18,336 21,964 19,711
Philip Morris Co. Inc. Notes (7 1/8% 12/01/1999) 18,336 19,365 18,608
Ford Motor Co. Del (9% 9/15/2001) 7,334 8,731 8,018
-------- --------
Total Income Account $347,374 $341,416
======== ========
</TABLE>
<PAGE>
SCHEDULE A (Continued)
CHART HOUSE ENTERPRISES, INC. CORPORATE EMPLOYEES 401(k) PLAN
Item 27A - Schedule of Assets Held for Investment Purposes
As of December 31, 1996
<TABLE>
<CAPTION>
Money Market Account
(Managed by Boston Safe Deposit & Trust Co.) Units Market
Asset Description Held Cost Value
- ---------------- ----------- ---------- ---------
<S> <C> <C> <C>
Employee Benefit Deposit Acct. (EBDA) 545,360 $ 545,360 $545,360
---------- ---------
Total Money Market Account $ 545,360 $ 545,360
========== ==========
</TABLE>
<TABLE>
<CAPTION>
Company Stock Account
Units Market
Asset Description Held Cost Value
- ----------------- -------- ---------- ----------
<S> <C> <C> <C>
Short-Term Investments
Reserve Deposit Acct. (RDA VI) 5,072 $ 5,072 $ 5,072
Equities and Convertibles
Chart House Enterprises, Inc. 145,770 1,124,086 728,849
---------- ---------
Total Company Stock Account $1,129,158 $ 733,921
========== ==========
Total Investments Held $4,321,226 $4,827,651
========== ==========
</TABLE>
<PAGE>
SCHEDULE B
CHART HOUSE ENTERPRISES, INC. CORPORATE EMPLOYEES 401(k) PLAN
Item 27D - Schedule of Reportable Transactions
For the Year Ended December 31, 1996
<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 16 39 $ 173,529 $ 314,790 $ 430,733 ($115,943)
SBS Trust Co. Reserve Deposit Account
(RDA VI) 275 229 1,956,668 2,127,885 2,127,885 -
SBS Trust Co. Employee Benefit Deposit
Account (EBDA) 58 44 275,450 379,412 379,412 -
</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. Corporate Employee 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
May 28, 1997
