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                                                                   EXHIBIT 99.1



NEWS RELEASE                            CONTACT:  Tom Lawrence
NYSE: JAX                                         (615-244-1818)

FOR IMMEDIATE RELEASE



                  J. ALEXANDER'S DECLINES TO PURSUE DISCUSSIONS

         NASHVILLE, TN., May 28, 1999 - J. Alexander's Corporation said today
that its Board of Directors has declined to pursue discussions with O'Charley's
regarding a restated and contingent proposal by O'Charley's to purchase the
Company at $5.50 in cash per share of common stock contingent upon the Company
repudiating the recent transaction with Solidus, LLC and terminating its current
rights offering.

         "Our Board and management strongly believe that the best way to create
value for our company and its shareholders is to remain independent and
singularly-focused on our concept. Our Board is unanimously and steadfastly
committed to implementing its strategic plan as the best way to serve its
shareholders," said Lonnie J. Stout, II, chairman, president and chief executive
officer.

         For the most recent quarter, J. Alexander's reported net sales of
$19,208,000, up 9.7% from $17,512,000 achieved in the first quarter of 1998. Net
income reached $244,000, or $.04 per share, up sharply from a loss of
$1,104,000, or $.20 per share. Restaurant operating income for the first quarter
of 1999 more than doubled from the first period a year ago, while same store
sales rose nearly 4%.

         J. Alexander's is a contemporary American restaurant placing a special
emphasis on food quality and professional service. The Company presently
operates 20 restaurants in eleven states.