SWRG Smith & Wollensky Restr Grp (MM)

Smith & Wollensky Announces James M. Dunn to Head New Boston Restaurant NEW YORK, May 3 /PRNewswire-FirstCall/ -- The Smith & Wollensky Restaurant Group, Inc. today announced that James M. Dunn will become President and Operating Partner of the new Smith & Wollensky restaurant in Boston, which is scheduled to open in the fall of 2004. In taking on this new role, Mr. Dunn has resigned his posts as the Company's President, Chief Operating Officer and a Director. Mr. Dunn will also make an investment in the Boston restaurant and intends to relocate to the Boston area with his family. (Logo: http://www.newscom.com/cgi-bin/prnh/20020904/SWRGLOGO ) Alan Stillman, Chief Executive Officer of The Smith & Wollensky Restaurant Group, commented, "As Jim makes this transition in his career, we are very fortunate that he will be running our 11th Smith & Wollensky restaurant. The Boston location will benefit from the leadership of an industry veteran who both knows the Smith & Wollensky concept extremely well and has significant experience operating restaurants in the region. We think his presence on site will significantly contribute to the restaurant's success. We also would like to thank Jim for his many contributions as a senior executive with the Company for the last eight years." The new Boston Smith & Wollensky will be located in the city's historic armory "castle," which dates from 1891 and was originally designed to house the First Corps of Cadets. Listed on the National Historic Register since 1973, the building occupies the corner of Columbus Avenue and Arlington Street, close to the Boston Common. The 18,000-square-foot space will seat approximately 300 diners. The Company has initiated a search for a new President and Chief Operating Officer. CEO Alan Stillman will take on the position of Chief Operating Officer temporarily, while Eugene Zuriff, who has been with the Company for over six years and serves on the Board of Directors, will temporarily serve as President. The Board of Directors will consist of seven rather than eight members until a replacement director is identified. About Smith & Wollensky Restaurant Group The Smith & Wollensky Restaurant Group develops, owns and operates high- end, high-volume restaurants in major cities across the United States. The original Smith & Wollensky, a traditional New York steakhouse, opened in 1977 and is currently believed to be the largest-grossing a la carte restaurant in the country. Since its inception, the company has grown to include 17 restaurants, including Smith & Wollensky in New York, Miami Beach, Chicago, New Orleans, Las Vegas, Washington, D.C., Philadelphia, Columbus, Dallas and Houston. The Company also operates other restaurants in New York, including Cite, Maloney & Porcelli, Manhattan Ocean Club, ONEc.p.s., Park Avenue Cafe and The Post House. Except for historical information contained herein, the statements made in this press release regarding the Company's business, strategy and results of operations are forward-looking statements which are based on management's beliefs and information currently available to management. Readers are cautioned not to put undue reliance on such forward-looking statements, which are subject to a number of risks and uncertainties that could cause actual results to differ materially from such statements. Factors that may cause such differences include changes in economic conditions generally or in each of the markets in which the Company is located, unanticipated changes in labor or food costs, changes in consumer preferences, the level of competition in the high-end segment of the restaurant industry and the success of the Company's growth strategy. For a more detailed description of such factors, please see the Company's filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. http://www.newscom.com/cgi-bin/prnh/20020904/SWRGLOGODATASOURCE: Smith & Wollensky Restaurant Group, Inc. CONTACT: Media, David Shein, +1-212-994-7514, or mobile, +1-917-613-8881, or , or Investors, Lauren Felice, +1-212-994-7541, or , both of RFBinder Partners for Smith & Wollensky Restaurant Group, Inc.

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