UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Sullivan, Chris Thomas
550 North Reo Street, Suite 200
Tampa, Florida 33609
United States
2. Issuer Name and Ticker or Trading Symbol
Outback Steakhouse, Inc.
OSSI
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
December, 1998
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director (X) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Chairman of the Board, Chief Executive Officer
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock, par value $.0|12/14/|G |V|5,300 |D |N/A | | | |
1 |98 | | | | | | | | |
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Common Stock, par value $.0|12/18/|G |V|750 |D |N/A |26,811 |D | |
1 |98 | | | | | | | | |
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Common Stock, par value $.0|- |- |-|- |- |- |1,712 |D |Note 1 |
1 | | | | | | | | | |
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Common Stock, par value $.0|- |- |-|- |- |- |231,292 |I |Note 2 |
1 | | | | | | | | | |
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Common Stock, par value $.0|12/14/|J |V|5,300 |N/A|N/A |7,686,825 |I |Note 3 |
1 |98 | | | | | | | | |
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<CAPTION>
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
None | | | | | | | | | | | | | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
1. Owned by Mr. Sullivan as custodian for the benefit of his minor
children.
2. Owned by Sullivan Family Investments, Ltd. for which Mr. Sullivan serves as
sole general partner.
3. Owned by Multi-Venture Partners, Ltd. ("MVP"). Mr. Sullivan received 5,300
shares in a non-liquidating
distribution from MVP. These shares were previously reported as beneficially
owned by Mr. Sullivan indirectly
through MVP. The foregoing transaction is exempt from Section 16 pursuant to
Rule 16a-13 as a change in form
of beneficial
ownership
SIGNATURE OF REPORTING PERSON
CHRIS T. SULLIVAN
DATE
January 10, 1999
