Fiscal 2012 Outlook

Commenting on the balance of fiscal 2012, Stout said that J. Alexander’s Corporation expects continued improvement in the Company’s same store sales and restaurant operating performance, but remains guarded in its outlook because of its concern over fuel prices and uncertainty in beef market prices, which have remained significantly higher than for the same period of the previous year.

“While cautious in our outlook due to fuel and commodity issues, we do think that consumer confidence is strengthening and we believe the economy is on the mend. We also believe that the upscale casual dining niche will continue to perform well this year and that we are well positioned to continue to improve our profitability.”

Stout said that J. Alexander’s Corporation will remain intently focused on operational execution in its restaurants. “We will avoid any discounting, a policy we strictly followed during the recession. Instead, we believe our narrow focus on quality food and professional service will continue to benefit us as it has during the last several quarters. Providing the best possible dining experience for our guests is the way to build sales and profitability and, in turn, improve performance in all 33 of our J. Alexander’s restaurants.”

About J. Alexander’s Corporation

J. Alexander’s Corporation operates 33 J. Alexander’s restaurants in thirteen states: Alabama, Arizona, Colorado, Florida, Georgia, Illinois, Kansas, Kentucky, Louisiana, Michigan, Ohio, Tennessee and Texas. J. Alexander’s is an upscale, contemporary American restaurant known for its wood-fired cuisine. The Company’s menu features a wide selection of American classics, including steaks, prime rib of beef and fresh seafood, as well as a large assortment of interesting salads, sandwiches and desserts. J. Alexander’s also has a full-service bar that features an outstanding selection of wines by the glass and bottle.

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