• Restaurant EBITDA for the fourth quarter of 2013 and 2012 was approximately $35,000 and $52,000, respectively, a decrease of 33.5%. The Nottingham Hooters and JF restaurants were not part of the Company for the full fourth quarter of 2013. Restaurant EBITDA for the full year 2013 and 2012 was $229,000 and $205,000, respectively, an increase of 11.6%. Our improved gross margins were offset by an increase in operating expenses, including increased occupancy costs and higher payroll costs. EBITDA is a non-GAAP financial measure -- see "Use of Non-GAAP Measures" below and the attached reconciliation.

• Net loss for the fourth quarter 2013 was $2.3 million, a loss of $0.61 per share, compared with $879,000, a loss of $0.24 per share for the 2012 fourth quarter. Net loss for the full year was $5.2 million, a loss of $1.19 per share, compared with $3.2 million, or a loss of $1.13 per share, for the full year 2012. Approximately $1.1 million of the net loss in 2013 was non-cash related to issuing common stock and warrants for services.

• There were 6,287,365 shares of common stock issued and outstanding as of March 15, 2014.

• Hooters restaurants - the Company owns all or part of the Hooters franchise rights to develop and operate Hooters restaurants in South Africa, Hungary, Poland, five states of Brazil, and parts of the United Kingdom, and has joint ventured with the existing franchisee in Australia. As of December 31, 2013, there were eight restaurants in these territories. An additional three new locations are expected to open in the coming months: two in Australia and one in Brazil. On January 31, 2014, the Company acquired two existing Hooters locations, one in Portland, Oregon and one in Tacoma, Washington, which are the Company's first U.S. locations.

• New restaurant brands - the Company owns a majority interest in Just Fresh Restaurants, currently with five locations in the Charlotte, NC area, and a sixth location planned to open on April 11, 2014, inside the BB&T Ballpark, home of the Charlotte Knights AAA baseball team. Chanticleer also owns American Roadside Burgers, Inc., with four locations in the Carolinas and one location in Smithtown, New York. On January 31, 2014, the Company acquired Spoon Bar & Kitchen, a fine dining seafood restaurant operated by Chef John Tesar, located in Dallas, TX.

Mike Pruitt, Chairman and Chief Executive Officer, commented, "We surpassed our goal in 2013 of having 10 restaurants to end the year with 18 locations and we have continued to expand our footprint to include our first two U.S. Hooters restaurants and our recently acquired Spoon Bar & Kitchen. With 21 locations to date, our consolidated net revenues were approximately $1.8 million in February 2014, despite dreadful weather for approximately three days at 11 of our U.S. restaurants, as well as February being a short and historically slow month. We continue to make steady progress in our gross profits and our South African Hooters achieved EBITDA positive results in 2013. I continue to believe we will achieve positive EBITDA for the Company by the fourth quarter of 2014."

"We are excited to see successful penetration of the Hooters brand in our existing territories overseas, with Nottingham giving us great momentum to find new Hooters sites in the United Kingdom. We believe we have a great opportunity to expand our other concepts in both domestic and international markets. We look forward to announcing our first quarter 2014 results with all our new restaurants (Spoon and Hooters Pacific Northwest) integrated for two months of the quarter."

For full disclosure relating to our year-end financial information, please refer to Chanticleer's Annual Report on Form 10-K, filed with the SEC on March 31, 2014, available online at www.sec.gov.

Use of Non-GAAP Measures
Chanticleer Holdings, Inc. prepares its condensed consolidated financial statements in accordance with United States generally accepted accounting principles ("GAAP"). In addition to disclosing financial results prepared in accordance with GAAP, the company discloses information regarding EBITDA, which differs from the term EBITDA as it is commonly used. In addition to adjusting net income (loss) from continuing operations to exclude taxes, interest, and depreciation and amortization, EBITDA also excludes pre-opening costs for our restaurants, non-cash expenses for services, change in fair value of derivative liability and gain on extinguishment of debt. EBITDA is not a measure of performance defined in accordance with GAAP. However, EBITDA is used internally in planning and evaluating the company's operating performance. Accordingly, management believes that disclosure of this metric offers investors, bankers and other stakeholders an additional view of the company's operations that, when coupled with the GAAP results, provides a more complete understanding of the company's financial results.

EBITDA should not be considered as an alternative to net loss or to net cash used in operating activities as a measure of operating results or of liquidity. It may not be comparable to similarly titled measures used by other companies, and it excludes financial information that some may consider important in evaluating the company's performance. A reconciliation of GAAP net income (loss) to EBITDA is included in the accompanying financial schedules.

About Chanticleer Holdings, Inc.
Headquartered in a Charlotte, NC, Chanticleer Holdings, Inc. (HOTR), together with its subsidiaries, owns and operates restaurant brands in the United States and internationally. The Company is a franchisee owner of Hooters® restaurants in international markets including England, South Africa, Hungary, and Brazil and has joint ventured with the current Hooters franchisee in Australia. The Company also owns and operates American Roadside Burgers, Spoon Bar & Kitchen and owns a majority interest in Just Fresh restaurants in the U.S.
For further information, please visit www.chanticleerholdings.com
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Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify these forward-looking statements by the words "anticipate," "estimate," "plan," "project," "continuing," "ongoing," "target," "aim," "expect," "believe," "intend," "may," "will," "should," "could," or the negative of these words and other comparable words. Forward-looking statements are based on expectations, forecasts, and assumptions by our management and involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those stated, including, without limitation:

• Operating losses continuing for the foreseeable future; we may never be profitable;

• Inherent risks in expansion of operations, including our ability to acquire additional territories, generate profits from new restaurants, find suitable sites and develop and construct locations in a timely and cost-effective way;

• General risk factors affecting the restaurant industry, including current economic climate, costs of labor and food prices;

• Intensive competition in our industry and competition with national, regional chains and independent restaurant operators;

• Our rights to operate and franchise Hooters-branded restaurants are dependent on the Hooters' franchise agreements;

• Our business depends on our relationship with Hooters;

• We do not have full operational control over the businesses of our franchise partners;

• Failure by Hooters to protect its intellectual property rights, including its brand image;

• Our business has been adversely affected by declines in discretionary spending and may be affected by changes in consumer preferences;

• Increases in costs, including food, labor and energy prices;

• Our business and the growth of our Company is dependent on the skills and expertise of management and key personnel;

• Constraints could effect our ability to maintain competitive cost structure, including, but not limited to labor constraints;

• Work stoppages at our restaurants or supplier facilities or other interruptions of production;

• Our food service business and the restaurant industry are subject to extensive government regulation;

• We may be subject to significant foreign currency exchange controls in certain countries in which we operate;

• Inherent risk in foreign operation;

• We may not attain our target development goals and aggressive development could cannibalize existing sales;

• Current conditions in the global financial markets and the distressed economy;

• A decline in market share or failure to achieve growth;

• Unusual or significant litigation, governmental investigations or adverse publicity, or otherwise;

• Adverse effects on our operations resulting from the current class action litigation in which the Company is one of several defendants;

• Adverse effects on our results from a decrease in or cessation or clawback of government incentives related to investments; and

• Adverse effects on our operations resulting from certain geo-political or other events.

Chanticleer cannot be certain that any expectation, forecast, or assumption made in preparing any forward-looking statements will prove accurate, or that any projection will be realized. It is to be expected that there will be differences between projected and actual results. The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its web site or otherwise. We undertake no obligation to update the forward-looking statements provided to reflect events or circumstances that occur after the date on which they were made. Further information on our business, including important factors which could affect actual results are discussed in the Company's filings with the SEC, including its Annual Report on Form 10-K under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations."