Oceanaire Completes Equity Financing

April 2008

	The Oceanaire is a leading upscale restaurant focused on offering premium, ultra-fresh seafood with broad customer appeal
	The Oceanaire owns and operates 15 high-end, full-service seafood restaurants in major cities across the United States
	The Special Committee of the Board of Directors of The Oceanaire retained TM Capital Corp. as financial advisor to evaluate the Company’s financing needs and consider alternatives
	TM Capital negotiated a financing with existing investors led by Clarion Capital Partners and issued a related fairness opinion to the Special Committee of the Board of Directors of The Oceanaire