EXHIBIT 99.1


FOR IMMEDIATE RELEASE                                 CONTACT:  R. GREGORY LEWIS
                                                                (615) 269-1900

                       J. ALEXANDER'S CORP. EXPECTS HIGHER
                   DILUTED EARNINGS PER SHARE IN FIRST QUARTER

            SIGNIFICANT INCREASE ALSO ANTICIPATED IN SAME STORE SALES

         NASHVILLE, Tenn., April 27, 2004 - J. Alexander's Corporation (AMEX:
JAX), owner and operator of 27 J. Alexander's full-service, contemporary upscale
American restaurants in 12 states, said today that it expects to report fully
diluted earnings per share in the range of $.13 to $.15 for the first quarter
of 2004, up from $.09 fully diluted earnings per share in the same period of
2003. The Company had no pre-opening expense in the 2004 quarter, compared to
pre-opening expense in the 2003 quarter of $271,000.

         Lonnie J. Stout II, chairman, president and chief executive officer,
said the Company's first quarter results for 2004 are also expected to reflect a
same store sales increase of 8.3% over the first three months of the prior year.
Complete results will be reported in May.

         "The first quarter of 2004 was another successful period for J.
Alexander's Corporation," Stout said in reviewing preliminary results. "Strong
guest count increases, combined with moderate menu price increases, were
primarily responsible for driving the same store sales gain, which was the
highest in the past four years.

         "Our sales growth in the first quarter more than offset the impact of
higher food input costs, which increased our cost of sales as a percentage of
sales to an estimated 33.1% in the most recent quarter from 31.8% in last year's
first period," Stout reported.

         Stout said input costs for food have escalated rapidly in recent months
and are up substantially in virtually all categories. The J. Alexander's
Corporation chief executive officer noted that while the momentum of the
Company's solid sales increase is carrying over in the second quarter of 2004,
higher input costs are also continuing to place pressure on profit margins.

         "At this point," Stout continued, "we don't foresee any improvement in
the food cost environment for some time. As a result, we are considering
additional menu price increases to offset the effect of rising food costs.




J. Alexander's - Page 2

         "We will continue to monitor our sales trends and input costs closely
in coming months. We will take whatever actions we believe are appropriate to
offset higher input costs, while being mindful of the importance of maintaining
positive guest count trends," Stout added.

         In other announcements, Stout said the Company has named KPMG LLP as
its independent auditors for 2004. The Company also announced its slate of
nominees for the J. Alexander's Corporation board of directors to be considered
by the shareholders at the annual meeting to be held on May 28, 2004. These
nominees include Lonnie J. Stout II; E. Townes Duncan; J. Bradbury Reed; Garland
G. Fritts; Joseph N. Steakley and Brenda B. Rector. Steakley and Rector are new
nominees, and both meet the qualifications for financial experts as members of
the Board's audit committee.

         J. Alexander's Corporation presently owns and operates in 27 J.
Alexander's restaurants in Alabama, Colorado, Florida, Georgia, Illinois,
Kansas, Kentucky, Louisiana, Michigan, Ohio, Tennessee and Texas. J. Alexander's
is a contemporary American restaurant placing a special emphasis on food quality
and professional service. The Company is based in Nashville, Tennessee.

         This press release contains forward-looking statements that involve
risks and uncertainties. Actual results, performance or developments could
differ materially from those expressed or implied by those forward-looking
statements as a result of known or unknown risks, uncertainties and other
factors, including those described from time-to-time in the Company's filings
with the Securities and Exchange Commission, press releases and other
communications.

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