Centerplate, Inc. Announces Expiration of Tender Offer and Consent Solicitation



    
    Announces Expiration Of Tender Offer For Its 13.5% Senior Subordinated
    Notes Due 2013

    
    STAMFORD, Conn., Jan. 26 /CNW/ -- Centerplate, Inc. (Amex:   CVP; TSX:
CVP.un), announced today that the cash tender offer (the "Offer") to purchase
up to 70% of its 13.5% Senior Subordinated Notes due 2013 expired at 5:00
p.m., New York City time today.  Holders of $73,200,198 of the outstanding
principal amount of the notes, which represents approximately 61.2% of the
$119,596,334.10 outstanding principal amount of the notes, have tendered their
notes and delivered consents.  If all of the tendered notes are accepted for
payment, $46,396,136.10 of notes would remain outstanding (which represents
the notes underlying 8,139,673 of Centerplate's 20,981,813 outstanding IDSs).
    The obligation of Centerplate to accept for payment and purchase the
notes in the Offer, is conditioned upon, among other things, the consummation
of the proposed merger of Centerplate with an affiliate of Kohlberg & Company,
L.L.C., as described in more detail in the Offer to Purchase and Consent
Solicitation Statement dated December 23, 2008.  If all conditions to the
Offer and consent solicitation are satisfied, holders of notes who validly
tendered their notes pursuant to the Offer and validly delivered their
consents pursuant to the consent solicitation and did not validly withdraw
their notes or revoke their consents will receive the offer consideration,
equal to $2.49 per note accepted for payment, plus accrued and unpaid interest
including any deferred interest.
    This announcement is not an offer to purchase, a solicitation of an offer
to sell or a solicitation of consents with respect to any securities.  The
full terms of the Offer and consent solicitation are set forth in the Offer to
Purchase and Consent Solicitation Statement.
    UBS Investment Bank is the Dealer Manager and Solicitation Agent for the
Offer and consent solicitation.  Questions regarding the Offer and consent
solicitation should be directed to UBS at 888-719-4210 or 203-719-4210.
    Requests for documents should be directed to MacKenzie Partners, Inc.,
the Information Agent for the Offer and consent solicitation, at 800-322-2885
or 212-929-5500.
    
    About Centerplate
    
    Centerplate, with its principal executive office in Stamford, CT, is a
leading provider of food and related services including concessions, catering
and merchandise services in more than 130 sports facilities, convention
centers and other entertainment venues throughout the United States and
Canada. Visit the company online at www.centerplate.com.
    
    Forward-Looking Statements
    
    This news release includes forward-looking statements within the meaning
of Section 27A of the Securities Act and Section 21E of the Securities
Exchange Act. These statements may involve risks and uncertainties that could
cause actual results to differ materially from those described in such
statements. Although Centerplate believes that the expectations reflected in
these forward-looking statements are reasonable, the company can give no
assurance that these expectations will prove to have been correct or that they
will occur. Important factors beyond Centerplate's control, including general
economic conditions, the outcome of the company's exploration of alternatives,
consumer spending levels, changing trends in our business and competitive
environment, the company's borrowing capacity and the provisions of the credit
agreement, the provisions of the indenture, adverse weather conditions and
other factors, as well as the risks identified in our most recent annual
report on Form 10-K and other filings with the Securities and Exchange
Commission could cause actual results to differ materially from Centerplate's
expectations. Centerplate undertakes no obligation to update or review any
forward-looking statement, whether as a result of new information, future
developments or otherwise.

    
    Contact Information
    Gael Doar
    Director of Communications
    203-975-5941
    gael.doar@centerplate.com

    




For further information:

For further information: Gael Doar, Director of Communications for
Centerplate, Inc., +1-203-975-5941, gael.doar@centerplate.com Web Site:
http://www.centerplate.com

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CENTERPLATE, INC.

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