July 2010 - ALL PERSONS AND ENTITIES WHO HELD SHARES OF LANDRY’S RESTAURANTS, INC. (“LANDRY’S”) COMMON STOCK AT ANY POINT BETWEEN SEPTEMBER 17, 2008 AND JANUARY 11, 2009, INCLUSIVE, EXCLUDING CERTAIN PERSONS AND ENTITIES; AND ALL PERSONS AND ENTITIES WHO HELD SHARES OF LANDRY’S COMMON STOCK AT ANY POINT BETWEEN NOVEMBER 3, 2009 AND THE CLOSING OF A SALE/MERGER TRANSACTION OF LANDRY’S, EXCLUDING CERTAIN PERSONS AND ENTITIES. YOU MAY HAVE AS A CLASS MEMBER WITH RESPECT TO THE ABOVE-CAPTIONED CONSOLIDATED SHAREHOLDER CLASS ACTION AND DERIVATIVE LAWSUIT (THE “ACTION” OR “LITIGATION”), INCLUDING YOUR POSSIBLE RIGHT TO RECEIVE CASH FROM THE SETTLEMENT FUND CREATED FOR THE BENEFIT OF THE 2008 TRANSACTION SUBCLASS.

Plaintiff Louisiana Municipal Police Employees’ Retirement System (“LMPERS” or “Plaintiff”), on behalf of itself and the 2008 Transaction Subclass, has reached a proposed settlement of Counts I, II, III and IX of the Complaint in the Action, pursuant to which the Defendants have agreed to pay a total of $14,500,000 in cash (“2008 Class Settlement”).

February 2009 - Plaintiff filed a complaint in Delaware Chancery Court styled Louisiana Municipal Police Employees’ Retirement System v. Tilman J. Fertitta, et al. asserting breach of fiduciary duty claims against Fertitta and the 2008 Fertitta Entities, the Outside Director Defendants, Scheinthal, and nominal defendant Landry’s concerning the amendment and subsequent termination of the $21 merger agreement and a derivative claim on behalf of Landry’s against the Board for failure to seek payment of the $24 million reverse termination fee. In short, Plaintiff alleged that Fertitta had abused his fiduciary position in order to force a renegotiation of the $21 merger agreement for self-interested purposes. Plaintiff also alleged that the Outside Director Defendants acted in bad faith in failing to protect Landry’s and its shareholders from Fertitta’s alleged misconduct. Defendants denied these allegations.