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<title>Outback Steakhouse, Inc. Form 8K September 2004</title>
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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 />
</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><font size="3" face="Times New Roman">Date of Report (Date of earliest event reported)</font></p>
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<p align="center"><b><font size="3" face="Times New Roman">September 3, 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 />
 of incorporation)</font></p>
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 Number)</font></p>
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 &nbsp; Identification No.)</font></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="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.&nbsp;01</font></u></b></p>
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<p><b><font size="3" face="Times New Roman">&nbsp;</font></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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<p><font size="3" face="Times New Roman">&nbsp;</font></p>
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<p><b><font size="3" face="Times New Roman">&nbsp;</font></b></p>
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<p><font size="3" face="Times New
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;</font></p>
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<p><font size="3" face="Times New Roman">On September 3, 2004, we signed two agreements for the purchase of an additional ownership interest in Outback/Fleming&rsquo;s, LLC (the &ldquo;LLC&rdquo;), our joint venture that operates Fleming's Prime Steakhouse and Wine
Bars.&nbsp; Copies of the agreements and our press release announcing the transactions are attached as exhibits.</font></p>

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<p><font size="3" face="Times New Roman">Pursuant to the agreements, effective September 1, 2004, we acquired an additional 39% interest in the LLC from our partners (FPSH Limited Partnership and AWA III Steakhouses, Inc.) for approximately $39,000,000.&nbsp; Total
consideration included approximately $24,300,000 in cash and $14,700,000 paid in satisfaction of amounts outstanding under loans previously made by us to our partners.&nbsp; The acquisition of the additional ownership interest was contemplated in the original
operating agreement of the LLC and the option to acquire the additional percentage was triggered upon the joint venture opening its 20<sup>th</sup> Fleming&rsquo;s, which occurred in the first half of 2004.&nbsp; As a result of the transaction, we now own 90% of the
joint venture and our partners retain a 10% ownership interest.</font></p>

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<p><font size="3" face="Times New Roman">We also have certain other related party affiliations with the sellers.&nbsp; A. William Allen, III is the majority owner and president of AWA III Steakhouses, Inc., which sold us a 9.75% interest in the LLC.&nbsp; Mr. Allen
is also President of West Coast Concepts for Outback Steakhouse, Inc.&nbsp; Paul M. Fleming is the manager of PKCR, LLC, the sole general partner of FPSH Limited Partnership, which sold us a 29.25% interest in the LLC.&nbsp; Mr. Fleming is also a principal of PLCK
Holdings, LLC, which holds a 50% interest in OS/PLCK, LLC, a joint venture with Outback Steakhouse, Inc. that operates Paul Lee&rsquo;s Chinese Kitchens.</font></p>
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<p><font size="3" face="Times New
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<p><b><u><font size="3" face="Times New Roman">Item&nbsp;9.01&nbsp;</font></u></b></p>
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<p><b><font size="3" face="Times New Roman">&nbsp;</font></b></p>
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<p><b><font size="3" face="Times New Roman">Financial Statements and Exhibits</font></b></p>
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<p><font size="3" face="Times New Roman">&nbsp;</font></p>
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<p><b><font size="3" face="Times New Roman">&nbsp;</font></b></p>
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<p><font size="3" face="Times New
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<p><b><font size="3" face="Times New Roman">&nbsp;</font></b></p>
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<p><font size="3" face="Times New Roman">(c) Exhibits.&nbsp;</font></p>
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<p><u><font size="3" face="Times New Roman">Exhibit No.</font></u></p>
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<p><b><font size="3" face="Times New Roman">&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><b><font size="3" face="Times New Roman">&nbsp;</font></b></p>
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<p><font size="3" face="Times New Roman">10.1</font></p>
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<p><b><font size="3" face="Times New Roman">&nbsp;</font></b></p>
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<p><font size="3" face="Times New Roman">Purchase Agreement by and between Outback Steakhouse, Inc., OS Prime, Inc., AWA III Steakhouses, Inc., and A. William Allen, III</font></p>
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<p><b><font size="3" face="Times New Roman">&nbsp;</font></b></p>
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<p><b><font size="3" face="Times New Roman">&nbsp;</font></b></p>
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<p><font size="3" face="Times New Roman">10.2</font></p>
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<p><font size="3" color="black" face="Times New Roman">Purchase Agreement by and between Outback Steakhouse, Inc., OS Prime, Inc., FPSH Limited Partnership, and Paul M. Fleming</font></p>
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<p><b><font size="3" face="Times New Roman">&nbsp;</font></b></p>
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<p><b><font size="3" face="Times New Roman">&nbsp;</font></b></p>
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<p><font size="3" face="Times New Roman">99.1</font></p>
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<p><font size="3" face="Times New Roman">Press Release dated September 8, 2004</font></p>
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<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><font size="3" face="Times New
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><font size="3" face="Times New
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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><font size="3" face="Times New Roman">&nbsp;</font></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;September 10, 2004</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">&nbsp;</font></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">&nbsp;</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">&nbsp;</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 September 2004
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)
September 3, 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 September 3, 2004, we signed two agreements for the purchase of an additional ownership interest in Outback/Fleming's, LLC (the "LLC"), our joint venture that operates Fleming's Prime Steakhouse and Wine
Bars.  Copies of the agreements and our press release announcing the transactions are attached as exhibits.
Pursuant to the agreements, effective September 1, 2004, we acquired an additional 39% interest in the LLC from our partners (FPSH Limited Partnership and AWA III Steakhouses, Inc.) for approximately $39,000,000.  Total
consideration included approximately $24,300,000 in cash and $14,700,000 paid in satisfaction of amounts outstanding under loans previously made by us to our partners.  The acquisition of the additional ownership interest was contemplated in the original
operating agreement of the LLC and the option to acquire the additional percentage was triggered upon the joint venture opening its 20
th
Fleming's, which occurred in the first half of 2004.  As a result of the transaction, we now own 90% of the
joint venture and our partners retain a 10% ownership interest.
We also have certain other related party affiliations with the sellers.  A. William Allen, III is the majority owner and president of AWA III Steakhouses, Inc., which sold us a 9.75% interest in the LLC.  Mr. Allen
is also President of West Coast Concepts for Outback Steakhouse, Inc.  Paul M. Fleming is the manager of PKCR, LLC, the sole general partner of FPSH Limited Partnership, which sold us a 29.25% interest in the LLC.  Mr. Fleming is also a principal of PLCK
Holdings, LLC, which holds a 50% interest in OS/PLCK, LLC, a joint venture with Outback Steakhouse, Inc. that operates Paul Lee's Chinese Kitchens.
Item 9.01
Financial Statements and Exhibits
(c) Exhibits.
Exhibit No.
10.1
Purchase Agreement by and between Outback Steakhouse, Inc., OS Prime, Inc., AWA III Steakhouses, Inc., and A. William Allen, III
10.2
Purchase Agreement by and between Outback Steakhouse, Inc., OS Prime, Inc., FPSH Limited Partnership, and Paul M. Fleming
99.1
Press Release dated September 8, 2004
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:  September 10, 2004
By:
/s/ Robert S. Merritt
Robert S. Merritt
Senior Vice President and
Chief Financial Officer