OTHER NEWS - March 8, 1994

Foley Elected Chairman of Carl Karcher Enterprises: William P. Foley II, who late last year acquired a controlling interest in Carl Karcher Enterprises, has been elected chairman of the Carl’s Jr. fast-food chain. He replaces interim Chairman Elizabeth A. Sanders, who will remain on the board. Late last year, Foley, chairman and chief executive of Irvine-based Fidelity National Financial Inc., led an investor group that took control of 22% of Karcher Enterprises stock in return for helping Carl N. Karcher restructure nearly $30 million in personal debt. In a related announcement, Karcher Enterprises said it is seeking Securities and Exchange Commission approval to sell up to $75 million in securities to help pay for construction of Boston Chicken restaurants. The company also seeks approval from shareholders for a corporate restructuring that would form a new holding company, CKE Restaurants Inc.