UPDATE: Steak n Shake confirms new corporate HQ

The Steak n Shake Co. updated its Web site this week to reflect a new corporate headquarters address in San Antonio, confirming
an IBJ story
dated Feb. 8.

The company, which has called Indianapolis home since the 1970s, said in a statement
Monday that the headquarters move actually took place in 2009.

Steak n Shake Co. plans to
ask investors for approval to change its corporate name to Biglari
Holdings Inc. at its annual meeting in April. It apparently will not seek approval for the headquarters
move, as IBJ reported.

Most of the employees of the 75-year-old restaurant
chain, a subsidiary company called Steak n Shake Operations Inc., will remain in Indianapolis. The name
on the restaurants will not change.

Company officials refused to
comment for IBJ‘s original story, and attacked the newspaper in its statement
yesterday. The press release, which had a San Antonio dateline and confirmed the parent company’s
move to Texas, nonetheless described the story as "misleading" and containing a "multitude of
errors." It did not specify any error.

Steak n Shake initially posted the release on news distribution service
PR Newswire, but it disappeared a few hours later. The statement remains on the investors section of www.steaknshake.com. 

Company officials did not return a phone message Tuesday morning.

The
company said the reason for the name change to Biglari Holdings is to avoid confusion between the parent company, now a diversified
holding company managed by CEO Sardar Biglari, and the subsidiary companies, including Steak n Shake.

"New
ownership and management are committed to the city of Indianapolis and look forward to continuing as active participants in
the community," the statement said.

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