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<title>Avery 10b4-1 Trading Plan #3 2004-02-18</title>
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<p align="center"><b><font size="2" face="Times New Roman">UNITED STATES<br />
SECURITIES AND EXCHANGE COMMISSION<br />
</font></b>Washington, D.C. 20549</p>

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<p align="center"><b><font size="4" face="Times New Roman">FORM 8-K</font></b></p>

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<p align="center"><b><font size="2" face="Times New Roman">CURRENT REPORT<br />
</font></b></p>

<p align="center"><b><font size="2" face="Times New Roman">PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</font></b></p>

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<p align="center"><b><font size="2" face="Times New Roman">February 18, 2004</font></b></p>
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<p align="center"><b><font size="2" face="Times New Roman">OUTBACK STEAKHOUSE, INC.</font></b></p>
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<p align="center"><b><font size="2" face="Times New Roman">Delaware</font></b></p>
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<p align="center"><b><font size="2" face="Times New Roman">1-15935</font></b></p>
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<p align="center"><b><font size="2" face="Times New Roman">59-3061413</font></b></p>
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<p><b><font size="3" face="Times New Roman">2202 North West Shore Boulevard, Suite 500, Tampa, FL</font></b></p>
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<p align="center"><b><font size="2" face="Times New Roman">33607</font></b></p>
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<p align="center"><b><font size="2" face="Times New Roman">(813) 282-1225</font></b></p>
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<p><b><font size="2" face="Times New Roman">Item 5. Other Events</font></b></p>

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<p><b><u><font size="2" face="Times New Roman">Item&nbsp;5.&nbsp;</font></u></b></p>
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<p><font size="2" color="black" face="Times New Roman">Paul E. Avery, a director of the Company, and director and officer of certain affiliates of the Company, entered into a stock trading plan on February 18, 2004, in accordance with Rule 10b5-1 to exercise stock
options to purchase, and upon exercise to sell, up to 150,000 shares of the Company&rsquo;s common stock.&nbsp;&nbsp; The plan provides for option exercises and subsequent sales of specified share amounts at specific market prices, subject to specified
limitations.&nbsp; Option exercises and sales pursuant to this plan may begin on February 20, 2004 and will terminate on January 24, 2005, unless terminated sooner in accordance with the plan&rsquo;s terms.&nbsp; This plan was established during the Company&rsquo;s
trading &ldquo;window.&rdquo; In addition, Mr. Avery has informed the Company that he will publicly disclose any stock exercises and stock sales made under the Rule 10b5-1 plan as required by the securities laws.</font></p>
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<b>SIGNATURES</b><br />
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<p><font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>
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Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p align="center"><b><font size="2" face="Times New Roman">OUTBACK STEAKHOUSE, INC.</font></b></p>
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<p align="center"><font size="2" face="Times New Roman">(Registrant)</font></p>
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<p><font size="2" face="Times New Roman">Date:&nbsp;&nbsp;February 20, 2004</font></p>
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<p><b><font size="3" face="Times New Roman">/s/ Joseph J. Kadow</font></b></p>
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<p><font size="2" face="Times New Roman">Joseph J. Kadow</font></p>
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<p><font size="2" face="Times New Roman">Senior Vice President,</font></p>
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<p><font size="2" face="Times New Roman">General Counsel and Secretary</font></p>
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Avery 10b4-1 Trading Plan #3 2004-02-18
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported)
February 18, 2004
OUTBACK STEAKHOUSE, INC.
(Exact name of registrant as specified in its charter)
Delaware
1-15935
59-3061413
(State or other jurisdiction
of incorporation)
(Commission File
Number)
(IRS Employer
Identification No.)
2202 North West Shore Boulevard, Suite 500, Tampa, FL
33607
(Address of principle executive offices)
(Zip Code)
Registrant's telephone number, including area code
(813) 282-1225
Not applicable.
(Former name or former address, if changed since last report)
Item 5. Other Events
Item 5.
Other Events
Paul E. Avery, a director of the Company, and director and officer of certain affiliates of the Company, entered into a stock trading plan on February 18, 2004, in accordance with Rule 10b5-1 to exercise stock
options to purchase, and upon exercise to sell, up to 150,000 shares of the Company's common stock.   The plan provides for option exercises and subsequent sales of specified share amounts at specific market prices, subject to specified
limitations.  Option exercises and sales pursuant to this plan may begin on February 20, 2004 and will terminate on January 24, 2005, unless terminated sooner in accordance with the plan's terms.  This plan was established during the Company's
trading "window." In addition, Mr. Avery has informed the Company that he will publicly disclose any stock exercises and stock sales made under the Rule 10b5-1 plan as required by the securities laws.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
OUTBACK STEAKHOUSE, INC.
(Registrant)
Date:  February 20, 2004
By:
/s/ Joseph J. Kadow
Joseph J. Kadow
Senior Vice President,
General Counsel and Secretary