Exhibit 99

                PRESS RELEASE OF EACO CORPORATION


      EACO  Corporation (EACO-OTCBB) announced today that it  has
entered into an asset purchase agreement under which it will sell
to  Banner  Buffets, LLC 16 restaurants that  EACO  now  operates
under the Whistle Junction, Florida Buffet and Ryan's names.  The
total  purchase  price for the restaurant premises  and  all  the
equipment and other assets used in the restaurant operations will
be  $29,950,000; $25,950,000 in cash at closing and a  promissory
note  for  $4 million.  The promissory note pays monthly interest
at  8%  per  annum  and  calls for a reduction  in  principal  of
$1.5  million on its second anniversary, an additional  reduction
of  $1.5 million on its third anniversary, with the remainder  to
be  paid  on  the  fourth anniversary.  The note  is  secured  by
restaurant equipment valued at less than $1 million.  Pursuant to
the  asset purchase agreement, Banner Buffets will pay up  to  an
additional $250,000 for each restaurant converted to the  Whistle
Junction concept between February 1, 2005 and the closing,  which
is  expected to be in mid-April.  At or prior to the closing, the
remaining 4 restaurants operated under the Ryan's brand  will  be
converted to Whistle Junction or Florida Buffets brands.

      Banner  Buffets is not acquiring any of the liabilities  of
EACO  but  is  assuming  obligations  under  capital  leases   of
approximately $6 million.  At closing, mortgages and other  liens
encumbering the properties totaling about $12.6 million  will  be
paid off.

      Banner  Buffets  has a 30-day due diligence  period  during
which it may terminate the transaction if the review reveals  any
information  that  could have a material adverse  effect  on  its
ability to consummate the transaction which cannot be cured prior
to the closing.  If the Buyer terminates under that provision, it
is  entitled to receive back the $500,000 escrow deposit  it  has
made.  In the event that Buyer fails to obtain suitable financing
within the due diligence period, EACO may terminate the agreement
and retain $250,000 of the deposit.

       The   transaction  is  subject  to  shareholder  approval.
Following  the expiration of the 30-day due diligence period,  an
Information Statement will be mailed to EACO's shareholders fully
describing  the transaction and its impact on the  Company.   The
Company  currently  plans that following  the  closing,  it  will
continue  to own 2 restaurant properties, one of which is  leased
to   another   operator,  and  continue  to  lease  2  additional
restaurants which are now subleased to other operators.  It  will
also  seek out other business opportunities.  The asset  purchase
agreement provides that the Company and its principal shareholder
will  not  for  5  years  after the closing  participate  in  any
restaurant similar to or in competition with the current business
of  the  Company or Banner Buffets within 30 miles of any of  the
sold restaurants.

      For  more information, contact Edward Alexander, President,
at 904-249-4197.