CRIC CAPITAL ACQUIRES FIVE ACAPULCO, EL TORITO AND CASA GALLARDO MEXICAN RESTAURANTS IN SALE-LEASEBACK TRANSACTION

Leading Net Lease Company Acquires Single-Tenant Restaurant Portfolio

BOSTON — CRIC Capital, LLC, one of the nation’s leading investors in net leased and other credit real estate, announced today that it acquired five restaurants from El Torito and Acapulco Restaurants Inc., owners and tenants of Acapulco, El Torito and Casa Gallardo restaurants in California and Missouri. This restaurant acquisition brings CRIC Capital’s total deal volume to more than $100 million since November 2003, and is in line with the company’s program to annually acquire more than $400 million of single-tenant properties across the U.S. CRIC Capital recently acquired portfolios from Apple American Group LLC, Penhall International and GasMart USA.

The five restaurants are located in Burbank, Calif., Northridge, Calif., St. Louis, Mo., Bridgeton, Mo., and Des Peres, Mo. The Northridge, Calif. property is operated as an El Torito restaurant and the Burbank, Calif. Property is operated as an Acapulco restaurant. The three Missouri properties in the portfolio are Casa Gallardo Restaurants, an El Torito brand. Acapulco Restaurants and El Torito will use proceeds from the sale-leaseback to pay down debt.

“We are able to close these deals quickly and efficiently,” said Marcy Axelrad, Principal of CRIC Capital, LLC. “We have the equity to fund the entire acquisition without debt and the depth of experience necessary to ensure a smooth closing based on the significant number of retail and restaurant properties that we have underwritten and closed recently.”

About Acapulco Restaurants Inc./El Torito

Real Mex Restaurants, Inc. is the parent of Acapulco Restaurants Inc. and El Torito, and one of the largest full service, casual dining Mexican restaurant chain operators in the United States . It currently operates 130 restaurants, of which 116 are located in California , with additional restaurants in six other states. Real Mex Restaurants’ three major subsidiaries are El Torito Restaurants, Inc., Acapulco Restaurants, Inc., and Real Mex Foods, Inc., a purchasing, distribution, and manufacturing subsidiary. For fiscal 2003, the company generated revenues of $312 million, EBITDA of $28.5 million and same store sales increases of 1.4%.

The company’s two primary restaurant concepts are El Torito and Acapulco. El Torito currently operates 76 restaurants, including six premium El Torito Grill restaurants. El Torito and Acapulco, with its 40 locations, represent the first and third largest full service, casual dining Mexican restaurant chains in California, respectively. In addition to the El Torito, El Torito Grill and Acapulco concepts, Real Mex Restaurants operates 14 additional restaurant locations under the following brands: Las Brisas; Casa Gallardo; Casa Gallardo Grill; El Paso Cantina; GuadalaHarry’s; Hola Amigos; Who Song & Larry’s; and Keystone Grill.

About CRIC Capital, LLC

CRIC Capital, LLC combines the pioneering net leasing professionals of Boston-based Corporate Realty Investment Company L.L.C. with Prudential Real Estate Investors, the real estate investment and advisory business of Prudential Financial, Inc. (NYSE: PRU). CRIC Capital purchases real estate from and leases it back to investment grade and select below-investment grade companies through a variety of customized net leases. Net lease transactions allow corporations and organizations to strengthen their financial positions and free up capital to reinvest in their core business.

Contact:
Victoria Nessen Kohlasch
CRIC Capital, LLC
617-388-9862
vkohlasch@criccapital.com