Benihana (BNHN) Board Will Explore Strategic Alternatives; No Decision Made Yet

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Benihana Inc. (Nasdaq: BNHN), reports its Board of Directors is exploring strategic alternatives available to the Company, including a possible sale, in order to maximize shareholder value. The Company stated that no decision has been made to engage in a transaction or transactions resulting from the Board's exploration of strategic alternatives, and there can be no assurance that any transaction will occur or, if undertaken, the terms or timing thereof.

The Company also announced that it has engaged Jefferies & Co., Inc. as its financial advisor in connection with a possible sale of the Company.

The Company does not intend to disclose developments with respect to the progress of its strategic review unless and until the Board has approved a transaction, if any, or otherwise deems disclosure appropriate.

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