Meritage Hospitality Group Revenue and Competitors

Meritage Hospitality Group Inc. (MHG) is primarily engaged in the franchised retail foodservice business through its Wendy's of Michigan business segment and its O'Charley's of Michigan business segment. MHG operates 47 Wendy's Old Fashioned Hamburgers quick-service restaurants in western and southern Michigan. All restaurants are operated pursuant to franchise agreements with Wendy's International, Inc., the franchisor of the quick-service restaurant system that operates under the Wendy's brand name. The Company's Wendy's restaurants are operated by Wendy's of Michigan, a limited partnership that is owned by a wholly owned subsidiary of MHG. On December 29, 2003, MHG executed an exclusive multi-unit development agreement with a casual service restaurant franchisor, O'Charley's Inc., to develop O'Charley's restaurants throughout the State of Michigan. MHG's O'Charley's restaurants will be operated by O'Charley's of Michigan, a limited liability company that is owned by MHG.