New Hyde Park, NY, July 25, 2002 - Morton's Restaurant Group (NYSE:MRG) today reported that it had completed its previously announced merger with affiliates of Castle Harlan.

Allen J. Bernstein, President and Chief Executive Officer of Morton's said, "We are pleased to have completed this transaction for the Company and its stockholders and employees. We look forward to continuing to provide Morton's guests with the finest in quality food and service."

New Hyde Park, NY, March 27, 2002 - Morton's Restaurant Group, Inc. (NYSE:MRG) announced today that it has entered into a definitive merger agreement providing for the acquisition of Morton's by an affiliate of Castle Harlan, Inc., a New York based private equity investment firm. Under the terms of the agreement, Morton's stockholders will receive $12.60 in cash for each share of common stock. The purchase price represents a 9.1% premium over yesterday's closing price of $11.55 and a 26.2% premium over the average closing price of Morton's stock for the last 20 trading days.

Following completion of the merger, Morton's will continue to be headquartered in New Hyde Park, New York, and the current management team will operate Morton's as a private company. Morton's owns and operates 61 Morton's of Chicago Steakhouse restaurants and 4 Bertolini's Authentic Trattoria restaurants.

Castle Harlan, Inc. was founded in 1987 by John K. Castle, former president and chief executive officer of Donaldson, Lufkin & Jenrette, and Leonard M. Harlan, founder and former chairman of The Harlan Company. Since its founding in 1987, Castle Harlan has completed acquisitions exceeding $5.0 billion. Castle Harlan is a highly-experienced investor which has successfully completed 35 transactions in a wide variety of industries including aviation services, consumer products, energy services, general manufacturing as well as restaurants. John K. Castle, chairman of Castle Harlan, Inc., and David B. Pittaway, senior managing director of Castle Harlan, Inc., are members of Morton's board of directors.

"We are delighted to announce the proposed merger," said Allen J. Bernstein, chairman of the board of directors, president and chief executive officer of Morton's. "The proposed merger is excellent news for our stockholders, our employees and our guests. Our stockholders will benefit from the premium over our recent stock price and the liquidity in their shares. Our dedicated employees will be part of a growing business and our guests will continue to receive the finest in food and service."

As a result of the evaluation of the Company's strategic alternatives, the Special Committee of directors negotiated the transaction for Morton's with the advice of Greenhill & Co., LLC, which acted as the financial advisor to the Special Committee and Richards, Layton & Finger, P.A., counsel to the Special Committee. The Special Committee received an opinion from Greenhill that the merger consideration is fair, from a financial point of view, to Morton's stockholders. Upon the unanimous recommendation of the Special Committee, Morton's Board of Directors approved the transaction by the unanimous vote of those participating (excluding Messrs. Castle and Pittaway, who were not present and did not vote). Completion of the merger is subject to various closing conditions including, but not limited to, approval of Morton's stockholders and customary industry regulatory approvals, receipt of third party consents and achievement of a minimum level of earnings. The buyer has secured required equity financing and the Company's existing bank lenders have amended the Company Senior Credit Agreement to support the transaction. The merger is currently expected to be completed in early of summer of 2002.

NEW YORK, March 10 -- Castle Harlan, Inc., the New York merchant bank, announced today that it had completed the sale of McCormick & Schmick's restaurants of Portland, Oregon, to Apple South, Inc. (Nasdaq/NM:APSO), a large restaurant company based in Madison, Georgia, for $68.5 million.

The price included a combination of cash, stock and assumed debt, according to David Pittaway, Castle Harlan managing director. The transaction closed less than a month after an agreement of sale was signed.

McCormick & Schmick's operates 16 upscale seafood restaurants on the West Coast and in Denver and Washington, D.C. Castle Harlan Partners II, a $275 million investment fund managed by Castle Harlan, made a significant equity investment in McCormick & Schmick's in October 1994. The sale of its stake in the company brought an annual compound return to its investors of approximately 88 percent.

Castle Harlan, founded in 1987, announced earlier this week that it had formed its third private equity investment fund, Castle Harlan Partners III, with commitments of $610 million. More than 85 percent of the investors in the new fund, primarily pension funds and endowments, had participated in Castle Harlan's earlier funds.

John K. Castle, former president and chief executive officer of Donaldson, Lufkin & Jenrette, the investment banking firm, is chairman of Castle Harlan. Leonard M. Harlan, founder and former chairman of The Harlan Company, a real estate investment and financial advisory firm, is president.

Since its inception, Castle Harlan has completed acquisitions exceeding $3 billion. Through December 31, 1996, Castle Harlan Partners II had earned a compound annual return of approximately 82 percent.

Castle Harlan investments have included Delaware Management Company, the Philadelphia money management firm with some $32 billion under management; Indspec Chemical Corp., a specialty chemical company; Smarte Carte, the world's largest airport luggage cart rental company; MAG Aerospace, the world's leading manufacturer of aircraft sanitation systems, and Commemorative Brands, Inc., one of the leading manufacturers and distributors of class rings and other specialty jewelry under the ArtCarved and Balfour brand names.