Exhibit 99.1 - Press Release] PREMIER ANNOUNCES OPERATIONS AGREEMENT Tampa,
Florida -- May 24, 2004 -- Premier Development & Investment, Inc. (OTC Bulletin
Board: PDVN; Frankfurt: YP3; Berlin: YP3.BER) announces preliminary agreement
with a current consultant to operate Players Grille. This ...
[Exhibit 99.1 - Press Release]
PREMIER ANNOUNCES OPERATIONS AGREEMENT
Tampa, Florida -- May 24, 2004 -- Premier Development & Investment, Inc. (OTC
Bulletin Board: PDVN; Frankfurt: YP3; Berlin: YP3.BER) announces preliminary
agreement with a current consultant to operate Players Grille. This consultant
is part of the team the Company uses to evaluate acquisition candidates. His
background is in management at a sports grille and bar themed concept in
Florida. Upon closing of the Players Grille acquisition, the new operator will
sign a two year contract which will lay out the terms of employment. His
responsibilities will include day to day management of the Fleming Island
location and development of future locations. The duality of his role will
enable him to better relate to both corporate management and future Player's
Eric R. Boyer, Premier's President and CEO, commented, "I am looking forward to
adding this particular consultant to Premier's team on a full time basis. His
input into the acquisition process has been invaluable. I have every reason to
believe he will be successful in this new role."
Premier Development & Investment, Inc. is a publicly held developer and operator
of theme-based restaurant and bar concepts. These concepts are developed
internally and through partnerships with other restaurant developers with the
intent of building them into full-fledged chains and franchise opportunities.
Premier is the Managing Partner of Coconut Grove Group, Ltd., a joint venture
project involving the development of a chain of Caribbean-based restaurants and
bars called Coconut Grove Grille and Blue Water Bar(TM).
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
for forward-looking statements. Certain information included in this press
release (as well as information included in oral statements or other written
statements made or to be made by Premier Development & Investment, Inc.)
contains statements that are forward-looking, such as statements relating to the
future anticipated direction of the restaurant industry, plans for future
expansion, various business development activities, planned capital
expenditures, future funding sources, anticipated sales growth and prospective
dealings and joint venture projects. Such forward-looking information involves
important risks and uncertainties that could significantly affect anticipated
results in the future and, accordingly, such results may differ from those
expressed in any forward-looking statements made by or on behalf of Premier.
These risks and uncertainties include, but are not limited to, those relating to
development and expansion activities, dependence on existing management,
financing activities, domestic and global economic conditions, and changes in
federal or state tax laws. For a description of additional risks and
uncertainties, please refer to Premier's filings with the Securities and
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