GRAND HAVANA ENTERPRISES, INC.

Grand Havana Enterprises, Inc. (Grand Havana), incorporated in 1993, owns and operates two private membership cigar clubs under the Grand Havana Room name. These cigar clubs are located in Beverly Hills, California and New York, New York. The Company also owns and operates one retail cigar store under the name Grand Havana House of Cigars. The retail store, which specializes in premium cigars, cigar accessories and related merchandise, is located adjacent to the Beverly Hills Grand Havana Room. For the fiscal year ended September 25, 2005, Grand Havana generated approximately 58% of its net revenue from its cigar club operations, and approximately 42% of its revenue from monthly dues and sales of cigars and other smoking related merchandise.

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The Grand Havana Rooms, the Company’s private membership cigar clubs, are targeted primarily towards affluent cigar smokers and their guests. The Grand Havana Room concept is to provide a private club where members can keep their cigars and smoking accessories for use while at the Grand Havana Room. Each Grand Havana Room offers corporate and individual memberships for a one-time initiation fee and monthly dues thereafter. The New York Grand Havana Room previously offered a social membership, which permitted a member to use the Grand Havana Room facilities, but did not provide the member with a locker or humidor. This type of membership was suspended in March 2003. As of September 25, 2005, both clubs offer private, shared and corporate memberships. Each Grand Havana Room includes a private smoking lounge, a full bar and food service. The Grand Havana Rooms also sell premium cigars and cigar and tobacco accessories. All facilities of the Grand Havana Rooms are available for use only by members and their guests.

The first Grand Havana Room opened in Beverly Hills, California in June 1995. In December 1998, the Beverly Hills Grand Havana Room was expanded in response to the demand for more memberships. Since December 2000, the Company has sublet a portion of its space to Mistral Brasserie, LLC and then to Luce of Beverly Hills, LLC, which have operated a restaurant open to the public, provided food for members of the Beverly Hills Grand Havana Room, and allowed unrestricted access to some of Grand Havana’s humidors. All alcoholic and non-alcoholic beverages continue to be served by the Company. The Beverly Hills Grand Havana Room maintains a waiting list for membership.

The New York Grand Havana Room opened in May 1997 and is located on the 39th floor of 666 Fifth Avenue in New York, New York. The New York Grand Havana Room provides a smoking lounge, bar, restaurant and conference facilities. The New York Grand Havana Room maintains a waiting list for membership.

Group or Branch:
LOVES ENTERPRISES INC

Address:
Third Floor 90025, LOS ANGELES, CA, UNITED STATES OF AMERICA
Phone/Fax:
+1 310 475 5600
+1 310 441 2100
[email protected]
www.grandhavana.com

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