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<p align="center"><b><font size="3" 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="3" face="Times New Roman">CURRENT REPORT<br />
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<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="3" face="Times New Roman">December 30, 2004</font></b></p>
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<p align="center"><b><font size="3" face="Times New Roman">OUTBACK STEAKHOUSE, INC.</font></b></p>
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<p align="center"><font size="3" face="Times New Roman">(Exact name of registrant as specified in its charter)</font></p>
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<p align="center"><b><font size="3" face="Times New Roman">Delaware</font></b></p>
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<p align="center"><b><font size="3" face="Times New Roman">1-15935</font></b></p>
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<p align="center"><b><font size="3" face="Times New Roman">59-3061413</font></b></p>
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<p align="center"><font size="3" face="Times New Roman">(State or other jurisdiction<br />
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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="3" face="Times New Roman">33607</font></b></p>
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<p align="center"><b><font size="3" face="Times New Roman">(813) 282-1225</font></b></p>
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<p><font size="2" face="Times New Roman">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</font></p>

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<p><b><font size="2" face="Wingdings">o</font>&nbsp;&nbsp;</b> <font size="2">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>

<p><b><font size="2" face="Wingdings">o</font></b>&nbsp;&nbsp; <font size="2">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>

<p><b><font size="2" face="Wingdings">o</font>&nbsp;&nbsp;</b> <font size="2">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>

<p><b><font size="2" face="Wingdings">o</font>&nbsp;&nbsp;</b> <font size="2">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act&nbsp; (17 CFR 240.13e-4(c))</font></p>

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<p><b><u><font size="3" face="Times New Roman">Item&nbsp;1.01</font></u></b></p>
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<p><b><font size="3" face="Times New Roman">Entry into a Material Definitive Agreement</font></b></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;&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;&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></b></p>
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<p><font size="3" face="Times New Roman">On December 30, 2004, we received notification that T-Bird Nevada, LLC (&ldquo;T-Bird&rdquo;) received a one-month extension of the maturity date on its line of credit from Bank of America, N.A. (the &ldquo;bank&rdquo;) that
permits borrowing of up to $35,000,000.&nbsp; T-Bird is a limited liability company owned by our California franchisee.&nbsp; We are the guarantor of T-Bird&rsquo;s line of credit and we include T-Bird in our consolidated financial statements.&nbsp; The outstanding
balance on the line of credit was approximately $30,000,000 as of December 30, 2004 and was originally scheduled to mature December 31, 2004.</font></p>

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<p><font size="3" face="Times New Roman">We are not the primary obligor on the line of credit and we are not aware of any non-compliance with the underlying terms of the line of credit agreement that would result in us having to perform in accordance with the terms
of the guarantee.&nbsp; If a default under the line of credit were to occur requiring us to perform under the guarantee obligation, we have the right to declare all of our California franchisees in default under their franchise agreements.&nbsp; We would also have
the right to recourse under loans T-Bird has made to individual corporations in California, which own the land and/or building for those franchise locations.</font></p>

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<p><font size="3" face="Times New Roman">As of the date of this filing, we understand that T-Bird and the bank are negotiating a longer-term renewal of the line of credit and our guarantee.</font></p>
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<p align="center"><b><font size="3" face="Times New Roman">SIGNATURE</font></b></p>

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<p><font size="3" 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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<p align="center"><b><font size="3" face="Times New Roman">OUTBACK STEAKHOUSE, INC.</font></b></p>
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<p align="center"><font size="3" face="Times New Roman">(Registrant)</font></p>
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<p><font size="3" face="Times New Roman">&nbsp;Date:&nbsp;&nbsp;January 4, 2005</font></p>
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<p><b><font size="3" face="Times New Roman">/s/ Robert S. Merritt</font></b></p>
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<p><font size="3" face="Times New Roman">Robert S. Merritt</font></p>
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<p><font size="3" face="Times New Roman">Senior Vice President and</font></p>
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<p><font size="3" face="Times New Roman">Chief Financial Officer</font></p>
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Outback Steakhouse, Inc. Form 8K January 2005
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)
December 30, 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)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act  (17 CFR 240.13e-4(c))
Item 1.01
Entry into a Material Definitive Agreement
On December 30, 2004, we received notification that T-Bird Nevada, LLC ("T-Bird") received a one-month extension of the maturity date on its line of credit from Bank of America, N.A. (the "bank") that
permits borrowing of up to $35,000,000.  T-Bird is a limited liability company owned by our California franchisee.  We are the guarantor of T-Bird's line of credit and we include T-Bird in our consolidated financial statements.  The outstanding
balance on the line of credit was approximately $30,000,000 as of December 30, 2004 and was originally scheduled to mature December 31, 2004.
We are not the primary obligor on the line of credit and we are not aware of any non-compliance with the underlying terms of the line of credit agreement that would result in us having to perform in accordance with the terms
of the guarantee.  If a default under the line of credit were to occur requiring us to perform under the guarantee obligation, we have the right to declare all of our California franchisees in default under their franchise agreements.  We would also have
the right to recourse under loans T-Bird has made to individual corporations in California, which own the land and/or building for those franchise locations.
As of the date of this filing, we understand that T-Bird and the bank are negotiating a longer-term renewal of the line of credit and our guarantee.
SIGNATURE
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:  January 4, 2005
By:
/s/ Robert S. Merritt
Robert S. Merritt
Senior Vice President and
Chief Financial Officer