Kahala Corp. Announces Acquisition Of Samurai Sam’s Teriyaki Grills

SCOTTSDALE, ARIZ (Tuesday, May 13, 2003) - )--Kahala Corp. (KAHA.PK) (the "company") today announced it has acquired SP Franchising Inc., the franchiser of the quick service Samurai Sam's Teriyaki Grills restaurant chain. The Samurai Sam's concept was founded in 1994 by John Young and Kerry Phelps, and has since expanded to approximately 60 franchised outlets in 10 states, including more than 25 outlets in the Phoenix metropolitan market. Samurai Sam's Teriyaki Grills has been named No. 1 Asian Fast Food in the annual "Franchise 500" edition of the nationally recognized Entrepreneur Magazine for the past two years, and has plans to open 20 more franchised outlets by yearend.
Kevin Blackwell, the company's chairman and CEO, remarked, "We are extremely excited to add the Samurai Sam's Teriyaki Grills brand to our portfolio of franchised quick service restaurants. The interest in this concept we have already received from our existing franchisees and the real estate community is astounding." Blackwell continued, "The healthy meals served at Samurai Sam's fits perfectly with Kahala's other concepts and fills the void for an Asian concept serving both nutritious and good tasting food that we have been searching for."
John Young, Samurai Sam's president and co-founder who will remain with the company, added, "Becoming part of the ever-growing family of Kahala's concepts should provide added growth opportunities for Samurai Sam's across the country, including co-branding opportunities with Kahala's existing concepts."
Kerry Phelps, Samurai Sam's CEO and co-founder who will also remain with the company, continued, "The synergies between the two companies is amazing. As a combined company integrating our collective franchising and operational resources, the growth prospects for Samurai Sam's and Kahala's four other concepts are unlimited."

For More Infromation Please contact:
Kerry Phelps
CEO

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