From: SANFORD TELLER COMMUNICATIONS                 May 8, 2001
            1365 York Avenue
            New York, NY 10021
            (212) 717-0332

      For:  MORTON'S RESTAURANT GROUP, INC.               FOR IMMEDIATE RELEASE
            3333 New Hyde Park Road
            New Hyde Park, NY  11042
            (516) 627-1515
            www.mortons.com

      Contact:    THOMAS J. BALDWIN, EXECUTIVE VICE PRESIDENT, CHIEF FINANCIAL
                  OFFICER, MORTON'S RESTAURANT GROUP, INC.


      MORTON'S RESTAURANT GROUP TO EXPLORE STRATEGIC ALTERNATIVES;
      ISSUES CAUTION FOR SECOND QUARTER RESULTS

New Hyde Park, NY....Morton's Restaurant Group, Inc. (NYSE: MRG) today announced
that its Board of Directors has determined to evaluate the full range of
strategic alternatives.

      Allen J. Bernstein, Chairman, President, and Chief Executive Officer of
Morton's Restaurant Group, Inc., said, "As part of its continuing efforts to
enhance stockholder value, the Board has directed its financial advisor,
Greenhill & Co., LLC, to assist the Company in exploring its strategic
alternatives, including evaluating a potential sale of the Company. The
process will include an evaluation of the recently proposed transaction, as
well as an evaluation of any offers that may be received. The Board is
committed to the pursuit of this process."

      Due to the current weakened economic environment, unfavorable business
conditions and reduced business travel, the Company also announced that it
expects revenues and operating results to be adversely affected in this second
quarter. In addition, results will be adversely affected by investment banking,
legal and other costs associated with evaluating strategic alternatives and with
the current proxy contest.

                                       -1-



      Mr. Bernstein further stated that, "We continue to operate in an extremely
challenging environment. Coupled with the investment banking and professional
fees being incurred, the outlook for the second quarter has clearly weakened.
Management is in the process of identifying potential cost-cutting initiatives,
including reduced corporate overhead expenditures. Additionally, the Board has
announced that it is freezing the issuance of stock options to senior executives
and that it has suspended the stock repurchase program."

      EXCEPT FOR THE HISTORICAL INFORMATION CONTAINED IN THIS NEWS RELEASE, THE
MATTERS ADDRESSED ARE FORWARD - LOOKING STATEMENTS THAT INVOLVE CERTAIN RISKS
AND UNCERTAINTIES, INCLUDING BUT NOT LIMITED TO, GENERAL ECONOMIC CONDITIONS,
COMPETITIVE ACTIVITIES, THE COMPANY'S EXPANSION PLANS AND RESTAURANT
PROFITABILITY LEVELS AND OTHER MATTERS IDENTIFIED FROM TIME TO TIME IN THE
COMPANY'S PUBLIC REPORTS AND SEC FILINGS. ACTUAL RESULTS MAY VARY.


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