Landry’s Takes McCormack & Schmick’s Private

Landry’s, Inc. (“Landry’s”) today announced the successful completion of Landry’s tender offer for all of the outstanding shares of common stock of McCormick & Schmick’s Seafood Restaurants, Inc. (Nasdaq: MSSR) (“MSSR”) at a purchase price of $8.75 per share. As of the expiration of the offer, 13,090,660 shares of common stock of MSSR were validly tendered and not withdrawn in the tender offer. All of such shares have been accepted for payment in accordance with the terms of the tender offer. The tender offer expired at 5:00 p.m., New York City time, on December 30, 2011. As a result of the tender offer, Landry’s now owns, together with its affiliates, approximately 88% of the outstanding shares of MSSR.

As part of the successful completion of the tender offer, Landry’s has exercised its right, granted under the merger agreement with MSSR pursuant to which the tender offer was made, to purchase additional shares from MSSR which will allow Landry’s to complete and close the merger and acquisition of MSSR today without stockholder approval. Upon completion of the merger, MSSR will become a wholly-owned subsidiary of Landry’s. All outstanding shares of common stock of MSSR, other than shares held by Landry’s or MSSR or shares held by MSSR’s stockholders who are entitled to and properly exercise appraisal rights under Delaware law, will be canceled and converted into the right to receive cash equal to the $8.75 offer price per share. In addition, upon completion of the merger, the common stock of MSSR will cease to be traded on the NASDAQ Stock Market Global Market.