Exhibit 4.8


   Dear Shareholder:

   In response to shareholder interest, The Marcus Corporation is pleased to
   offer its shareholders of record the opportunity to participate in our
   Dividend Reinvestment and Associate Stock Purchase Plan.  The plan is
   intended to help you expand your stock ownership in The Marcus Corporation
   by allowing you to reinvest the cash dividends you receive and make
   supplemental cash investments in additional shares of common stock.  This
   voluntary plan allows you to buy our shares at a lower cost than you would
   normally incur on your own since you won't have to pay brokerage
   commissions or service charges to buy shares.

   There are two ways you can take advantage of the plan:

        (1)  you can reinvest all or part of your common stock cash dividends
             in additional shares, and

        (2)  you can purchase more shares with additional cash payments.

   Details of the plan are explained in this brochure and prospectus.  To
   participate in the plan, just complete and mail the enclosed shareholder
   authorization card.

   We hope this plan will be helpful to you in achieving your investment
   objectives.  As always, thank you for your interest and support.

   Sincerely,

   Stephen H. Marcus

   
                                  PLAN SUMMARY

   Dividend Reinvestment

   This is a simple and automatic way to apply your quarterly common stock
   cash dividends to buy more stock.  By authorizing The Marcus Corporation
   to pay all or part of your cash dividends to your agent, Firstar Trust
   Company, the Trust Company will use your dividends to buy additional
   shares of stock for your account.  The shares purchased with your
   dividends will also earn future dividends for reinvestment, helping your
   investment compound and grow even faster.

   Supplemental Cash Investments

   You can also send the Trust Company a check each month (or less
   frequently) payable to "Firstar Trust Company" for an amount between $100
   to $1,500 to buy additional shares of The Marcus Corporation common stock. 
   You need not invest regularly and you may vary the amount invested each
   time within the prescribed dollar limits.  All cash dividends earned on
   these shares will automatically be reinvested in additional shares of The
   Marcus Corporation common stock.

   Plan Features

   -    You may reinvest all or part of your quarterly cash dividends.

   -    You pay no service fees or brokerage commissions on purchases.

   -    You can send in a check for between $100 and $1,500 to supplementally
        purchase additional shares of The Marcus Corporation common stock
        monthly or less frequently.

   -    Participation in the plan is voluntary and can be terminated at any
        time.

   -    You receive an easy-to-understand account statement from the Trust
        Company following each investment.

   -    All stock certificates are retained by the Trust Company in your
        account, preventing their loss or theft.

   -    To obtain your stock certificates or end your participation in the
        plan, simply send the Trust Company a written request.

   -    You must own stock of record (in your own name) to participate.  Your
        broker will transfer shares held in street or nominee name to your
        name upon request.

   -    Fees and commissions from the sale of stock are your responsibility.

   -    Your investment in our common stock is subject to market risk,
        including the risk that our stock value may go down after you buy
        shares.  There is no guarantee of stock performance.

   

   How to Enroll

   To participate in the plan, simply complete the enclosed authorization
   card and mail it to:

   Firstar Trust Company
   Corporate Trust Department
   P.O. Box 2077
   Milwaukee, WI  53201-2077

   For reinvestment of dividends, the form must be received at least two
   business days before the record date for a dividend payment.  If the form
   is received after that time, dividend reinvestment will begin with the
   next quarterly cash dividend payment.  Supplemental cash investments must
   be received by the tenth day of the month to be invested that month.

   Prospectus

   The Prospectus, which provides the complete terms and conditions of the
   plan, begins on Page 5.  Please read the Prospectus carefully before
   deciding to participate in the plan.

   For Additional Information:

   Call toll free 1-800-637-7549
   or in the Milwaukee area call: 276-3737