OPERATING COMPANY OVERVIEWS Olive Garden Red Lobster Olive Garden is the largest casual, full-service Italian  restaurant company in the world, with 537 restaurants in  47 states and six in Canada. Now in its 21st year, Olive  Garden has posted 39 consecutive quarters of U.S. same- restaurant sales growth, and sales totaled $2.2 billion in  fiscal 2004, with average annual sales per restaurant of  $4.1 million (on a 52-week basis).  A pioneering concept that helped reshape the dining habits  of a nation, Red Lobster has been the market leader in the  seafood casual dining segment since 1968. Today, Red  Lobster has 649 restaurants in the United States and 31 in  Canada. Red Lobster’s fiscal 2004 sales were $2.4 billion  and average annual sales per restaurant were $3.6 million  (on a 52-week basis). Now in its ninth year, Bahama Breeze offers guests a  refreshing escape from the ordinary with its unique  combination of Caribbean-inspired cuisine, tropical  drinks, upbeat atmosphere, and live music. Bahama  Breeze had sales of $176 million in fiscal 2004, and now  operates 32 restaurants in 19 states, with average annual  sales per restaurant of $5.2 million (on a 52-week basis).  Combining two of America’s favorite pastimes – barbeque and sports – Smokey Bones Barbeque & Grill is Darden’s fastest- growing concept. Since its debut in 1999, Smokey Bones  has aggressively expanded to 69 restaurants in 18 states as  of the end of fiscal 2004. Sales nearly doubled in fiscal 2004  to $174 million, with average annual sales per restaurant of  $3.2 million (on a 52-week basis). With the development of Olive Garden, Bahama Breeze and Smokey Bones, our New  Business team has an impressive track record of creating exciting casual dining concepts.  In 2003, the team’s newest creation, Seasons 52, opened in Orlando, Florida. Now in its  test phase, Seasons 52 is a casually sophisticated fresh grill and wine bar with seasonally  inspired, nutritionally balanced menus and an extensive international wine list. New Business Development  Smokey Bones Barbeque & Grill Bahama Breeze Bahers