Industry News | December 20, 2006

Jack in the Box Inc. Announces Preliminary Results of Its Modified ''Dutch Auction'' Tender Offer

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Jack in the Box Inc. today announced the preliminary results of its modified "Dutch Auction" tender offer, which expired at 12:00 midnight, EST, on December 19, 2006. In accordance with the terms and conditions of the tender offer, and based on the preliminary count by Mellon Investor Services LLC, the depositary for the tender offer, Jack in the Box expects to accept for purchase approximately 2,336,023 shares of its common stock at a purchase price of $61.00 per share, for a total cost of approximately $142.5 million.

Based on a preliminary count by the depositary, approximately 2,336,023 shares of common stock were tendered and not withdrawn at prices at or below the purchase price.

Stockholders who tendered shares in the tender offer at or below the purchase price will have all of their tendered common shares purchased, subject to certain limited exceptions.

The number of shares to be purchased and the purchase price per share are preliminary. Final results for the tender offer will be determined subject to confirmation by the depositary of the proper delivery of the shares validly tendered and not withdrawn. The actual number of shares to be purchased and the final purchase price per share will be announced following the completion of the confirmation process. Payment for the shares accepted for purchase will occur promptly thereafter.

The number of shares that the company expects to purchase in the tender offer represents approximately 6.5 percent of its currently outstanding common stock. In the tender offer, the company offered to purchase up to approximately 5,500,000 shares of its common stock at a price not less than $55.00 nor greater than $61.00 per share, for a maximum aggregate repurchase price of up to $335.5 million.

The joint dealer managers for the tender offer are Wachovia Securities and Morgan Stanley; the information agent is D.F. King & Co., Inc.; and the depositary is Mellon Investor Services LLC. All inquiries about the tender offer should be directed to the information agent at (888) 628-8208. Banks and brokers may call (212) 269-5550.