Nathan's Famous (NATH) Authorizes 500,000 Share Buyback

November 13, 2008 9:39 AM EST

Nathan's Famous (NASDAQ: NATH) announced that its Board has authorized the purchase of up to an additional 500,000 shares of its common stock on behalf of the Company. Purchases will be made from time to time, depending on market conditions, in open market or privately negotiated transactions, at prices deemed appropriate by management. There is no set time limit on the repurchases.

To date, pursuant to prior share repurchase programs, Nathan's has acquired an aggregate 2,483,884 shares of its common stock at a cost of $16,187,000 and there are currently 16,116 shares available to be repurchased pursuant to the share repurchase plan authorized on November 5, 2007.

Nathan's products are currently distributed in 50 states, the District of Columbia and four foreign countries through its restaurant system, Branded Product Program and retail licensing activities.

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