SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. Litigation Release No. 15744 / May 18, 1998 Securities and Exchange Commission v. LRG Restaurant Group, Inc. Civil No. 98-CV- 01223 (D.D.C.) (filed May 15, 1998) On May 15, 1998, the Commission filed a complaint in the United States District Court for the District of Columbia against LRG Restaurant Group, Inc. ("LRG Restaurant"). The complaint alleges that LRG Restaurant, a restaurant and natural resources properties business whose securities are quoted in the pink sheets, failed to make available to the investing public current and accurate information about its financial condition and results of operation through the filing of periodic reports with the Commission as required by the Securities Exchange Act of 1934 ("Exchange Act"). Specifically, the complaint alleges that LRG Restaurant has not filed its Annual Reports on Form10-K for the fiscal years ended November 30, 1996 and 1997, its Quarterly Reports on Form 10-Q for the fiscal quarters ended February 28, May 31 and August 31, 1997 and February 28, 1998, and six Notifications of Late Filing with respect to its delinquent reports. The Commission seeks to compel LRG Restaurant to file its delinquent periodic reports and enjoin LRG Restaurant from further violations of Section 13(a) of the Exchange Act of1934 and Rules 12b-25, 13a-1 and 13a-13 thereunder. ======END OF PAGE 1======