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Also. . .

September 02, 1998

* San Francisco-based Galveston's Steakhouses Corp. agreed to buy all 80 of Paragon Steakhouse Restaurants Inc.'s U.S. steakhouses and a food distributing company for an undisclosed amount to build on Paragon's brand identity. Shares of San Francisco-based Galveston's, which is changing its name to Group Steakhouse Corp., rose $1.38, or 39%, to $4.88 on the Nasdaq small-cap market. Kyotaru Ltd. of Japan, which owns Paragon, is selling its restaurants and food distributor, Pacific Basin Foods, as it reduces U.S. investments. Galveston's owned just two restaurants and operated two others when it went public Feb. 27.

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