McCormick & Schmick’s Seafood Restaurants, Inc., Announces Pricing of Initial Public Offering

July 20, 2004

NEW YORK, July 20, 2004 — McCormick & Schmick’s Seafood Restaurants, Inc. announced today the pricing of its initial public offering at $12 per share. The Company has agreed to sell 6 million shares of its common stock and has granted the underwriters an option to purchase up to an additional 900,000 shares of common stock to cover over-allotments, if any. No secondary shares were sold as part of the offering. McCormick & Schmick’s common stock will be listed on the NASDAQ stock exchange under the symbol “MSSR.”

McCormick & Schmick’s was acquired in August 2001 by Bruckmann, Rosser, Sherrill & Co. II L.P. (“BRS”), Castle Harlan Inc. and management. Since then, the Company has expanded from 34 restaurants to 51 restaurants. After the offering, BRS and other shareholders will continue to own approximately 7.8 million shares.

Proceeds from the offering were primarily used to repay outstanding indebtedness and to redeem preferred stock held by Bell Atlantic Master Trust. Bank of America Securities LLC served as book-running manager of the offering. RBC Capital Markets, SG Cowen & Co. and Wachovia Securities served as co-managers.

McCormick & Schmick’s Seafood Restaurants, Inc. is a leading national seafood restaurant operator in the affordable upscale dining segment. Over the past 32 years, it has successfully grown to 51 restaurants in 22 states by focusing on serving a broad selection of fresh seafood. McCormick & Schmick’s inviting atmosphere and high quality, diverse menu offering and compelling price-value proposition appeals to a broad customer base–from casual diners, families and tourists to business travelers and special occasion diners.

BRS is a New York based private equity investment firm with approximately $1.2 billion under management. BRS was founded in 1995 and has since invested in over 20 companies in the following industries: restaurants, consumer goods, specialty retail, recreation/leisure, apparel, home furnishings, industrial and commercial services (including equipment rental), commercial equipment manufacturing, wholesale distribution and healthcare services. BRS makes leveraged buyout, recapitalization/restructuring and growth capital investments in companies with superior management, predictable cash flow, strong market share and growth potential. All management teams of BRS companies are equity investors in their businesses.


Paul Kaminski – Bruckmann, Rosser, Sherrill & Co., 212-521-3700