For Immediate Release 						       30th April, 2002		


FUDDRUCKERS CASUAL DINING CHAIN IS A 
BAHRAINI FRANCHISE
 

Fuddruckers is a wholly owned GCC company incorporated in the Kingdom of Bahrain and franchised in the region. It bears no relation to any American corporations.

Customers of the Fuddruckers Chain of Casual Dining Restaurants in the GCC and Egypt have expressed their concerns regarding the calls for a boycott of US products in the area. These calls have misguidedly made the assumption that Fuddruckers is an American franchise.   

A spokesperson from TAIB Bank E.C clarified that the brands "Fuddruckers" and "Fudds" are independently owned by Fuddruckers EMA E.C., a company incorporated in the Kingdom of Bahrain. This chain of restaurants primarily serves local nationals in the region and was based on a casual dining model specifically targeting the countries of the 
Middle East. It has no US interests in any form.  The spokesperson also clarified that no dividends or royalties or any other fees are paid by this company to any party in the United States of America. 

It was also stated that majority equity in Fuddruckers EMA EC is held by TAIB Bank E.C., along with some eminent families and business houses in the GCC.  It should be noted by franchisees, customers and all others dealing with this chain of restaurants that it is a local business that has been built up over the last 5 years in the GCC and Egypt. 


TAIB Bank E.C., is an international Investment Bank based in Bahrain and listed on the Bahrain Stock Exchange.

 
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For more information, please contact:
Vivian Jamal
Stark Middle East
Tel: +973-537594
Fax:+973-537593
E-mail: vivian@taib.com