Exhibit 4.04(l)
[Letterhead]

DATE: May 27,1998

TO: Morton's Restaurant Group
ATTN: Thomas J. Baldwin
FAX: 516-627-1898
PHONE: 516-627-1515

FROM: BankBoston, N.A.("BBNA")
ATTN: Mary M. Scherr, Derivative Confirmations
FAX: 617-434-4284
PHONE: 617-434-4405

RE: EXTENDIBLE SWAP TRANSACTION
[Our Ref: SW57176US/SWN57177US]

The purpose of this letter agreement is to set forth the terms and conditions
of the Extendible Swap Transaction entered into between BankBoston, N.A.
("BBNA") and Morton's Restaurant Group ("Morton's) on the Trade Date
specified below (the "Transaction"). This letter constitutes a "Confirmation"
as referred to in the ISDA Master Agreement specified below.

The definitions and provisions contained in the 1991 ISDA (the
"Definitions"), each as published by the International Swaps and Derivatives
Association, Inc. ("ISDA"), are incorporated into this Confirmation. In the
event of any inconsistency between the Definitions and provisions in this
Confirmation, this Confirmation will govern.

1. This Confirmation evidences a complete binding agreement between
you and us as to the terms of the Transaction to which this Confirmation
relates. In addition, you and we agree to use our best efforts promptly to
negotiate, execute and deliver an agreement in the form of the ISDA Master
Agreement (Multicurrency-Cross Border) (the "ISDA Form") published by
ISDA with such modifications as you and we shall in good faith agree (such
agreement, the "Agreement"). Upon the execution by you and us of the
Agreement, this Confirmation will supplement, form a part of, and be subject
to the Agreement. All provisions contained or incorporated by reference in
the Agreement, upon its execution, shall govern this Confirmation except as
expressly modified below. Until we execute and deliver the Agreement, this
Confirmation shall supplement, form a part of, and be subject to an agreement
in the form of the ISDA Form as if we had executed an agreement in such form
(with a Schedule thereto which provides that Market Quotation and the Second
Method apply for purposes of Section 6(e) of such agreement) on the Trade
Date hereof. In the event of any inconsistency between this Confirmation and
either the ISDA Form or the Agreement, this Confirmation will govern.

2. The terms of the particular Transaction to which this Confirmation
relates are as follows:

National Amount: USD 10,000,000.

Trade Date: May 27, 1998

Effective Date: May 29, 1998

Bank Boston

Termination Date: May 29, 2001, subject to adjustment
according to the Modified Following
Business Day convention and to Section 3 herein.

FIXED AMOUNTS:
Fixed Rate Payer: Morton's

Fixed Rate: 5.70%

Fixed Rate Payment Dates The 29th of February, May, August and November in each
year beginning August 28, 1998, and ending on the
Termination Date, subject to adjustment in accordance
with the Modified Following Business Day convention.

Fixed Rate Day Count Fraction: Actual/360

FLOATING AMOUNTS:
Floating Payer: BBNA

Floating Rate Payment Dates: The 29th of February, May, August and November in
each year beginning August 28, 1998, and ending on
the Termination Date, subject to adjustment in accordance
with the Modified Following Business Day convention.

Floating Rate for Initial
Calculation Period: 5.6875%

Floating Rate Day Count Fraction: Actual/360

Floating Rate Option: USD-LIBOR-BBA

Designated Maturity: Three months

Spread: None

Reset Dates: The first day of each Calculation Period.

Compounding: Inapplicable

Business Days: New York and London

Business Day Convention: Modified Following.

Calculation Agent: BBNA

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3. EXTENDIBLE PROVISION

As long as no Event of Default or Termination Event shall have occurred
and then be continuing, the parties agree that the Floating Rate Payer may
extend the Termination Date of this Transaction by two years and must notify
the Fixed Rate Payer by telephonic notice on May 24, 2001, of its intention
to do so, effective May 29, 2001, whereupon the obligations of the parties
hereunder shall reflect a revised Termination Date of May 29, 2003, and all
other terms of the Transaction shall remain in effect as detailed above.

4. RELATIONSHIP BETWEEN PARTIES

Each party represents to the other party that:

(a) Non-Reliance. It is acting for its own account, and it has made its
own independent decisions to enter into this Transaction and as to whether
this Transaction is appropriate or proper for it based upon its own judgement
and upon advice from such advisors as it has deemed necessary. It is not
relying on any communication (written or oral) of the other party as
investment advice or as a recommendation to enter into this Transaction; it
being understood that information and explanations related to the terms and
conditions of this Transaction shall not be considered investment advice or a
recommendation to enter into this Transaction. It has not received from the
other party any assurance or guarantee as to the expected results of this
Transaction.

(b) Evaluation and Understanding. It is capable of evaluating and
understanding (on its own behalf or through independent professional advice),
and understands and accepts, the terms, conditions and risks of this
Transaction. It is also capable of assuming, and assumes, the financial and
other risks of this Transaction.

(d) Risk Management. It has entered into this Transaction for the purpose
of (i) managing its borrowings or investments, (ii) hedging its underlying
assets or liabilities or (iii) in connection with its line of business.

(e) It is an "eligible swap participant" within the meaning of Commodity
Futures Trading Commission Regulations section 35.1(b)(2).

5. ACCOUNT DETAILS:

Payments to BBNA: Through the Federal Reserve Bank, Boston,
Routing No. ABA 011000390, for A/C BBNA,
Boston, for credit to Arbitrage Settlement
Account #295032, Attn: Swap Desk, 01-13-08

Payments to MORTON'S PLEASE ADVISE

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6. CONTACT INSTRUCTIONS:

BBNA: Swap Desk (Resets/Payments): Tel: (617) 434-1321
FAX: (617) 434-0505

Confirmations: Tel: (617) 434-4405
FAX: (617) 434-4284

MORTON'S: PLEASE ADVISE

Very truly yours,
BANKBOSTON, N.A.

By: /s/ William K. LePard By: /s/ James Mather
---------------------------- ----------------------------
Name: William K. LePard Name: James Mather
Title: Managing Director Title: Managing Director

Agreed and accepted as of the date first above written:
MORTON'S RESTAURANT GROUP

By: /s/ Thomas J. Baldwin
----------------------------
Name: Thomas J. Baldwin
Title: EVP & CFO

PLEASE SIGN AND FAX TO:
617-434-4284
ATTN: MARY SCHERR
REQUEST CORRECTIONS: 617-434-4405.