Item 5. Other Events
Outback Steakhouse, Inc. (the "Company") announced that its Board
of Directors has authorized a program to repurchase up to 2,500,000
shares of the Company's common stock by issuing a press release on March
25, 1997.
Item 7. Financial Statements and Exhibits
<TABLE>
<CAPTION>
Exhibit
Number Description
<S> <C>
99.1 Press release, dated March 25, 1997 (filed herewith)
</TABLE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
OUTBACK STEAKHOUSE, INC.
DATED: March 26, 1997 By:/s/ Joseph J. Kadow
Joseph J. Kadow, Vice President
EXHIBIT 99.1
PRESS RELEASE
NEWS.....
March 25, 1997 Contact: Robert S. Merritt
FOR IMMEDIATE RELEASE (813) 282-1225
OUTBACK STEAKHOUSE, INC. ANNOUNCES
SHARE REPURCHASE AUTHORIZATION
Tampa, Florida, March 25, 1997 -- Outback Steakhouse, Inc.
(NASDAQ:OSSI) today announced that its Board of Directors has authorized
a program to repurchase up to 2,500,000 shares of the Company's common
stock. The Company said that the timing, price, quantity and manner of
purchases will be made at the discretion of management and will depend
upon market conditions.
The Company will fund the repurchase program through available bank
credit facilities. The Company also said that the repurchase program
would have no effect upon its future expansion plans.
Outback Steakhouse, Inc. operates 382 Outback Steakhouses and
54 Carrabba's Italian Grills in 40 states.
