During 2000, the Company issued approximately 273,000 shares of Common Stock to four area operating partners for all their interests in 33 Outback Steakhouses in Arizona, New Mexico, Northern New Jersey, New York Metropolitan area, North Texas and Virginia.

   During 1999, the Company issued 2,256,000 shares of Common Stock for all of the outstanding shares of its New England franchisee (Tedesco) which owned 17 Outback Steakhouses in Connecticut, Massachusetts, New Hampshire, and Rhode Island. The merger was accounted for by the pooling-of-interests method using historical amounts and the financial statements presented herein have been restated to give retroactive effect to the merger for all periods presented.

   During 1999, the Company issued approximately 160,000 shares of Common Stock to three area operating partners for all of the outstanding interests in 25 Outback Steakhouses in Colorado, Georgia and West Florida.

   During 1998, the Company issued approximately 80,250 shares of Common Stock to one area operating partner for the outstanding interest in Outback Steakhouses in Indiana and Kentucky.

   The acquisitions of the area operating partners' interests in 2000, 1999 and 1998 were accounted for by the purchase method and the related goodwill is included in the line item entitled "Other Assets" in the Company's Consolidated Balance Sheets.