| x      | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|---------------------------------------------------------------------------------------|
|   | For the Fiscal Year Ended: May 31, 2011                                               |

| o      | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|-------------------------------------------------------------------------------------------|
|   | For the transition period from __________ to _________                                    |

| GEORGIA                                                        |   | 63-0475239                           |
|----------------------------------------------------------------|--------|--------------------------------------|
| (State or other jurisdiction of incorporation or organization) |   | (I.R.S. Employer Identification No.) |

|                                    |                                      |
|-----------------------------------------|-------------------------------------------|
| Title of each class                     | Name of each exchange on which registered |
| Common Stock, par value $0.01 per share | New York Stock Exchange                   |

----

| Index      |
|------------|
| PART I     |   |   |
|       |   |   |
| Item 1.    | Business | 4-10 |
| Item 1A.   | Risk Factors | 10-16 |
| Item 1B.   | Unresolved Staff Comments | 16 |
| Item 2.    | Properties | 16-18 |
| Item 3.    | Legal Proceedings | 18 |
| Item 4.    | (Removed and Reserved) | 18 |
|       |   |   |
| PART II    |   |   |
|       |   |   |
| Item 5.    | Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities |  19 |
| Item 6.    | Selected Financial Data | 20 |
| Item 7.    | Management's Discussion and Analysis of Financial Condition and Results of Operations | 21-38 |
| Item 7A.   | Quantitative and Qualitative Disclosure About Market Risk | 39 |
| Item 8.    | Financial Statements and Supplementary Data | 40-79 |
| Item 9.    | Changes in and Disagreements With Accountants on Accounting and Financial Disclosure | 80 |
| Item 9A.   | Controls and Procedures | 80 |
| Item 9B.   | Other Information | 80 |
|       |   |   |
| PART III   |   |   |
|       |   |   |
| Item 10.   | Directors, Executive Officers and Corporate Governance | 81 |
| Item 11.   | Executive Compensation | 81 |
| Item 12.   | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 81 |
| Item 13.   | Certain Relationships and Related Transactions, and Director Independence | 81 |
| Item 14.   | Principal Accounting Fees and Services | 81 |
|       |   |   |
| PART IV    |   |   |
|       |   |   |
| Item 15.   | Exhibits and Financial Statement Schedule | 82 |
| Signatures |   | 83 |

----

| ·   | general economic conditions; |
|--------------------|------------------------------|

| ·   | changes in promotional, couponing and advertising strategies; |
|--------------------|---------------------------------------------------------------|

| ·   | changes in our guests’ disposable income; |
|--------------------|-------------------------------------------------|

| ·   | consumer spending trends and habits; |
|--------------------|--------------------------------------|

| ·   | increased competition in the restaurant market; |
|--------------------|-------------------------------------------------|

| ·   | laws and regulations affecting labor and employee benefit costs, including further potential increases in state and federally mandated minimum wages, and healthcare reform; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | guests’ acceptance of changes in menu items; |
|--------------------|----------------------------------------------------|

| ·   | guests’ acceptance of our development prototypes, remodeled restaurants, and conversion strategy; |
|--------------------|---------------------------------------------------------------------------------------------------------|

| ·   | mall-traffic trends; |
|--------------------|----------------------|

| ·   | changes in the availability and cost of capital; |
|--------------------|--------------------------------------------------|

| ·   | weather conditions in the regions in which Company-owned and franchised restaurants are operated; |
|--------------------|---------------------------------------------------------------------------------------------------|

| ·   | costs and availability of food and beverage inventory; |
|--------------------|--------------------------------------------------------|

| ·   | our ability to attract and retain qualified managers, franchisees and team members; |
|--------------------|-------------------------------------------------------------------------------------|

| ·   | impact of adoption of new accounting standards; |
|--------------------|-------------------------------------------------|

| ·   | impact of food-borne illnesses resulting from an outbreak at either Ruby Tuesday or other restaurant concepts; |
|--------------------|----------------------------------------------------------------------------------------------------------------|

| ·   | effects of actual or threatened future terrorist attacks in the United States; and |
|--------------------|------------------------------------------------------------------------------------|

| ·   | significant fluctuations in energy prices. |
|--------------------|--------------------------------------------|

----

PART I

----

----

----

----

----

| Name                  | Age    | Position                                                     |
|-----------------------|--------|--------------------------------------------------------------|
|                  |   |                                                         |
| Samuel E. Beall, III  | 61     | Chairman of the Board, Chief Executive Officer and President |
| Kimberly M. Grant     | 40     | Executive Vice President                                     |
| Marguerite N. Duffy   | 50     | Senior Vice President, Chief Financial Officer               |
| Michael R. Beck       | 49     | Senior Vice President, Chief Development Officer             |
| John Brisco           | 68     | President – International Development                  |
| Daniel P. Dillon, Jr. | 46     | Senior Vice President, Brand Development                     |
| Nicolas N. Ibrahim    | 50     | Senior Vice President, Chief Technology Officer              |
| Robert F. LeBoeuf     | 49     | Senior Vice President, Chief People Officer                  |
| Mark D. Young         | 44     | Senior Vice President, Chief Marketing Officer               |

----

Item 1A. Risk Factors

----

| ·   | the ability to timely and effectively meet customer demands and maintain our strong customer base; |
|--------------------|----------------------------------------------------------------------------------------------------|

| ·   | the hiring, training, and retention of excellent restaurant managers and staff; |
|--------------------|---------------------------------------------------------------------------------|

| ·   | the ability to manage costs and prudently allocate capital resources; |
|--------------------|-----------------------------------------------------------------------|

| ·   | the ability to create and implement an effective marketing/advertising strategy; |
|--------------------|----------------------------------------------------------------------------------|

| ·   | the ability to leverage sales following the completion of our conversions; and |
|--------------------|--------------------------------------------------------------------------------|

| ·   | the ability to provide menu items with strong customer preference at attractive prices. |
|--------------------|-----------------------------------------------------------------------------------------|

----

----

----

----

|   ●   | economic factors (including economic slowdowns or other inflation-related issues); |
|---------------------------------|------------------------------------------------------------------------------------|

|   ●   | demographic changes, particularly with regard to dining and discretionary spending habits, in the areas in which our restaurants are located; |
|---------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------|

|   ●   | changes in consumer preferences; |
|---------------------------------|----------------------------------|

| ●   | changes in federal or state income tax laws; |
|---------------------|----------------------------------------------|

| ●   | seasonal fluctuations due to the days of the week on which holidays occur, which may impact spending patterns; |
|---------------------|----------------------------------------------------------------------------------------------------------------|

| ●   | natural disasters such as hurricanes, tornados, blizzards, floods, or other severe weather; |
|---------------------|---------------------------------------------------------------------------------------------|

| ●   | effects of war or terrorist activities and any governmental responses thereto; and |
|---------------------|------------------------------------------------------------------------------------|

| ●   | increased insurance and/or self-insurance costs. |
|---------------------|--------------------------------------------------|

----

Item 1B. Unresolved Staff Comments

Item 2. Properties

----

|           | Number of Ruby Tuesday Restaurants |
|----------------|------------------------------------|
| State          | Company                            |   | Franchise |   | Total System |
|           |                               |   |   |   |   |
| Domestic:      |                               |   |   |   |   |
| Alabama        | 44                                 |   | – |   | 44 |
| Arizona        | 6                                  |   | – |   | 6 |
| Arkansas       | 7                                  |   | – |   | 7 |
| California     | –                            |   | 1 |   | 1 |
| Colorado       | 12                                 |   | – |   | 12 |
| Connecticut    | 17                                 |   | – |   | 17 |
| Delaware       | 7                                  |   | – |   | 7 |
| Florida        | 79                                 |   | 1 |   | 80 |
| Georgia        | 55                                 |   | – |   | 55 |
| Idaho          | –                            |   | 1 |   | 1 |
| Illinois       | 3                                  |   | 19 |   | 22 |
| Indiana        | 13                                 |   | – |   | 13 |
| Iowa           | 1                                  |   | 5 |   | 6 |
| Kansas         | 2                                  |   | – |   | 2 |
| Kentucky       | 8                                  |   | – |   | 8 |
| Louisiana      | 5                                  |   | – |   | 5 |
| Maine          | 10                                 |   | – |   | 10 |
| Maryland       | 32                                 |   | – |   | 32 |
| Massachusetts  | 10                                 |   | – |   | 10 |
| Michigan       | 24                                 |   | 1 |   | 25 |
| Minnesota      | 12                                 |   | – |   | 12 |
| Mississippi    | 8                                  |   | – |   | 8 |
| Missouri       | 26                                 |   | – |   | 26 |
| Nebraska       | 8                                  |   | – |   | 8 |
| Nevada         | 1                                  |   | – |   | 1 |
| New Hampshire  | 5                                  |   | – |   | 5 |
| New Jersey     | 26                                 |   | 1 |   | 27 |
| New Mexico     | –                            |   | 1 |   | 1 |
| New York       | 34                                 |   | – |   | 34 |
| North Carolina | 56                                 |   | – |   | 56 |
| North Dakota   | –                            |   | 4 |   | 4 |
| Ohio           | 36                                 |   | – |   | 36 |
| Oklahoma       | –                            |   | 2 |   | 2 |
| Oregon         | 3                                  |   | – |   | 3 |
| Pennsylvania   | 44                                 |   | – |   | 44 |
| Rhode Island   | 3                                  |   | – |   | 3 |
| South Carolina | 33                                 |   | – |   | 33 |
| South Dakota   | –                            |   | 3 |   | 3 |
| Tennessee      | 38                                 |   | – |   | 38 |
| Texas          | 2                                  |   | 3 |   | 5 |
| Utah           | 1                                  |   | – |   | 1 |
| Virginia       | 66                                 |   | – |   | 66 |
| Washington     | 1                                  |   | – |   | 1 |
| Washington, DC | 3                                  |   | – |   | 3 |
| West Virginia  | 8                                  |   | – |   | 8 |
| Wisconsin      | 1                                  |   | 1 |   | 2 |
| Total Domestic | 750                                |   | 43 |   | 793 |

----

|                                                                            | Number of Ruby Tuesday Restaurants |
|---------------------------------------------------------------------------------|------------------------------------|
| Country                                                                         | Company                            |   | Franchise |   | Total System |
|                                                                            |                               |   |   |   |   |
| International:                                                                  |                               |   |   |   |   |
| Canada                                                                          | –                            |   | 1 |   | 1 |
| Chile                                                                           | –                            |   | 9 |   | 9 |
| Egypt                                                                           | –                            |   | 2 |   | 2 |
| Greece                                                                          | –                            |   | 2 |   | 2 |
| Guam*                                                                           | –                            |   | 1 |   | 1 |
| Hawaii*                                                                         | –                            |   | 4 |   | 4 |
| Honduras                                                                        | –                            |   | 1 |   | 1 |
| Hong Kong                                                                       | –                            |   | 4 |   | 4 |
| Iceland                                                                         | –                            |   | 2 |   | 2 |
| India                                                                           | –                            |   | 9 |   | 9 |
| Kuwait                                                                          | –                            |   | 6 |   | 6 |
| Romania                                                                         | –                            |   | 2 |   | 2 |
| Saudi Arabia                                                                    | –                            |   | 3 |   | 3 |
| Trinidad                                                                        | –                            |   | 3 |   | 3 |
| United Arab Emirates                                                            | –                            |   | 3 |   | 3 |
| United Kingdom                                                                  | –                            |   | 1 |   | 1 |
| Total International                                                             | –                            |   | 53 |   | 53 |
|                                                                            | 750                                |   | 96 |   | 846 |
|                                                                            |                               |   |
| * Guam and Hawaii are treated as international locations for internal purposes. |                               |

|      | Number of Other Concept Restaurants |
|-----------|-------------------------------------|
| State     | Marlin & Ray’s            |   | Truffles |   | Wok Hay |
|      |                                |   |   |   |   |
| Georgia   | –                             |   | 1 |   | – |
| Tennessee | 1                                   |   | – |   | 2 |
| Total     | 1                                   |   | 1 |   | 2 |

Item 3. Legal Proceedings

Item 4. (Removed and Reserved)

----

PART II

| Fiscal Year Ended May 31, 2011 |   | Fiscal Year Ended June 1, 2010 |   |
|--------------------------------|--------|--------------------------------|--------|
|                           |   |                           |   |   |   |   |   | Per Share |   |   |   |   |   |   |   |   |   | Per Share |   |
|                           |   |                           |   |   |   |   |   | Cash |   |   |   |   |   |   |   |   |   | Cash |   |
| Quarter                        |   | High                           |   |   | Low |   |   | Dividends |   | Quarter |   | High |   |   | Low |   |   | Dividends |   |
|     First       |   | $                              | 10.83  |   |   | $ | 7.63 |   |   |   | -- |   |    First |   | $ | 8.16 |   |   | $ | 5.81 |   |   |   | -- |   |
|     Second      |   | $                              | 13.30  |   |   | $ | 9.24 |   |   |   | -- |   |    Second |   | $ | 9.38 |   |   | $ | 6.12 |   |   |   | -- |   |
|     Third       |   | $                              | 15.57  |   |   | $ | 12.65 |   |   |   | -- |   |    Third |   | $ | 8.40 |   |   | $ | 6.37 |   |   |   | -- |   |
|     Fourth      |   | $                              | 13.65  |   |   | $ | 10.00 |   |   |   | -- |   |    Fourth |   | $ | 12.55 |   |   | $ | 8.12 |   |   |   | -- |   |

----

Item 6. Selected Financial Data

|                                                              |   | Fiscal Year |
|-------------------------------------------------------------------|--------|-------------|
|                                                              |   | 2011        |   |   | 2010 |   |   | 2009 |   |   | 2008 |   |   | 2007 |   |
| Revenues:                                                         |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Restaurant sales and operating revenue                            |   | $           | 1,258,015 |   |   | $ | 1,188,043 |   |   | $ | 1,239,104 |   |   | $ | 1,346,721 |   |   | $ | 1,395,212 |   |
| Franchise revenue                                                 |   |        | 7,147 |   |   |   | 6,753 |   |   |   | 9,452 |   |   |   | 13,583 |   |   |   | 15,015 |   |
|   Total revenue                                         |   | $           | 1,265,162 |   |   | $ | 1,194,796 |   |   | $ | 1,248,556 |   |   | $ | 1,360,304 |   |   | $ | 1,410,227 |   |
|                                                              |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income/(loss) before income taxes (a)                             |   | $           | 52,622 |   |   | $ | 57,758 |   |   | $ | (42,866 | )  |   | $ | 23,699 |   |   | $ | 132,398 |   |
| Provision/(benefit) for income taxes                              |   |        | 5,744 |   |   |   | 12,414 |   |   |   | (24,948 | ) |   |   | (2,678 | ) |   |   | 40,730 |   |
|                                                              |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income/(loss)                                                 |   | $           | 46,878 |   |   | $ | 45,344 |   |   | $ | (17,918 | ) |   | $ | 26,377 |   |   | $ | 91,668 |   |
|                                                              |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings/(loss) per share:                                        |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     Basic                                     |   | $           | 0.73 |   |   | $ | 0.74 |   |   | $ | (0.35 | ) |   | $ | 0.51 |   |   | $ | 1.60 |   |
|     Diluted                                   |   | $           | 0.72 |   |   | $ | 0.73 |   |   | $ | (0.35 | ) |   | $ | 0.51 |   |   | $ | 1.59 |   |
|                                                              |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average common and                                       |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     common equivalent shares:                 |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     Basic                                     |   |        | 64,029 |   |   |   | 61,533 |   |   |   | 51,395 |   |   |   | 51,572 |   |   |   | 57,204 |   |
|     Diluted                                   |   |        | 64,948 |   |   |   | 61,870 |   |   |   | 51,395 |   |   |   | 51,688 |   |   |   | 57,633 |   |
|                                                              |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| All fiscal years contained 52 weeks.                              |
|                                                              |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other financial data:                                             |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    Total assets                                    |   | $           | 1,187,026 |   |   | $ | 1,064,029 |   |   | $ | 1,124,196 |   |   | $ | 1,271,937 |   |   | $ | 1,230,256 |   |
|    Long-term debt and capital leases, less current |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|       maturities                    |   | $           | 329,184 |   |   | $ | 276,490 |   |   | $ | 476,566 |   |   | $ | 588,142 |   |   | $ | 512,559 |   |
|    Shareholders’ equity                      |   | $           | 591,713 |   |   | $ | 538,100 |   |   | $ | 416,366 |   |   | $ | 431,518 |   |   | $ | 439,326 |   |
|    Cash dividends per share of common stock        |   |        | -- |   |   |   | -- |   |   |   | -- |   |   | $ | 0.25 |   |   | $ | 0.50 |   |
|    Closures and impairments (a)                    |   | $           | 6,249 |   |   | $ | 3,776 |   |   | $ | 54,951 |   |   | $ | 6,453 |   |   | $ | 6,140 |   |
|    Interest expense, net                           |   | $           | 12,353 |   |   | $ | 16,355 |   |   | $ | 33,940 |   |   | $ | 31,352 |   |   | $ | 19,965 |   |
|    Company same-restaurant sales change            |   |        | 0.9 | % |   |   | (1.3 | )% |   |   | (7.9 | )% |   |   | (9.8 | )% |   |   | (1.4 | )% |
|    Net cash provided by operating activities       |   | $           | 116,292 |   |   | $ | 140,264 |   |   | $ | 102,569 |   |   | $ | 101,889 |   |   | $ | 184,662 |   |
|    Purchases of property and equipment             |   | $           | 26,684 |   |   | $ | 17,672 |   |   | $ | 17,186 |   |   | $ | 116,918 |   |   | $ | 125,827 |   |

----

Item 7. Management's Discussion and Analysis

----

| ·   | Enhance Sales and Margins of Our Core Brand.  We have evolved our existing menu items to support our high-quality casual dining position, broaden our appeal with product extensions offering more variety and cravability, and provide our guests with compelling value.  Late in the second quarter of fiscal 2010, we introduced a menu which included an expanded appetizer line and new dinner entrees featuring a variety of lobster combinations.  Additionally, we have also launched a Sunday brunch offering and enhanced our bar area with high definition televisions and an enhanced food and drink menu, both of which have driven incremental sales and traffic in addition to enhancing the overall perception of the Ruby Tuesday brand.  In the first quarter of fiscal 2011, we rolled out a new menu, began offering a complimentary bread program, and enhanced our fresh garden bar and Sunday brunch.  Our new menu items include 10 entrees; Fit & Trim offerings, which include 12 menu items that are 700 calories or less; and side offerings which now include fresh grilled green beans, fresh grilled zucchini, baked mac ‘n cheese, and blue cheese coleslaw.  We enhanced our garden bar with more variety and freshness by adding over 10 new items.  The addition of our fresh baked garlic cheese biscuits should further increase the overall value perception of our brand, in line with other high-quality casual dining restaurants.  Lastly, our Sunday brunch menu now includes 15 total items, and has been enhanced with the addition of French toast and new omelets. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Increase Shareholder Returns Through New Concept Conversions.  Part of our long-term plan is to get more out of existing restaurants by generating higher average restaurant volumes and thus more profit and cash flow with minimal capital investment.  Therefore, we will be converting certain underperforming Ruby Tuesday concept restaurants into other high-quality casual dining brands which might be better suited for success in selected markets.  To that end, on July 22, 2010, we entered into a licensing agreement with Gourmet Market, Inc. which allows us to operate multiple restaurants under the Truffles name.  Truffles is an upscale casual dining café featuring seafood and steaks which currently operates three restaurants in the vicinity of Hilton Head Island, South Carolina.  Our potential conversion concepts now include Truffles, Wok Hay (an Asian bistro which we own), and Marlin & Ray’s, which is our new internally-developed seafood concept.  We anticipate converting approximately six to eight Company-owned Ruby Tuesday restaurants to the Marlin & Ray’s, Truffles, or Wok Hay concepts in fiscal 2012.  We believe the low capital requirement and potential increased revenue and EBITDA for these conversions have the potential to provide attractive cash-on-cash returns for our shareholders. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Focus on Low Risk, Low Capital-Intensive, High-Return Growth.  In an effort to be prudent with our capital and in order to maximize returns for our shareholders, we are starting to slowly grow our Company in a low risk, low capital intensive manner.  Over time, we plan on opening Company-owned, smaller inline-type Ruby Tuesday restaurants.  Additionally, on September 13, 2010, we entered into a licensing agreement with LFMG International, LLC (“Lime”) which allows us to operate multiple restaurants under the Lime Fresh Mexican Grill® name.  Lime is a fast casual Mexican concept that currently operates several restaurants primarily in the vicinity of Miami, Florida.  Given that the fast casual segment of our industry is a proven and growing segment where demand exceeds supply, we believe opening smaller, inline locations under the Lime brand is a potential growth option for us.  We expect to open seven to nine Company-owned Lime restaurants in fiscal 2012.  The ability to enter the growing fast casual segment with a strong brand such as Lime and further expand our Ruby Tuesday Company-owned brand provides a growth option that has the potential to create long-term value for our shareholders with relatively low risk. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ·   | Allocate Capital to Enhance Shareholder Value.  During the past year, we continued to strengthen our balance sheet through deleveraging and also entered into a new Credit Facility which provides us with greater flexibility.  If we are successful in continuing to stabilize our same-restaurant sales and maintaining or lowering our cost structure, we have the opportunity to generate substantial levels of free cash flow given our modest capital expenditure needs.  We define “free cash flow” to be the net amount remaining when purchases of property and equipment are subtracted from net cash provided by operating activities.  Our near-term capital requirements are relatively modest as we anticipate converting six to eight Ruby Tuesday concept restaurants into other concepts, opening one to two new restaurants, and opening approximately seven to nine smaller, inline Lime restaurants in fiscal 2012. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  Fiscal Year |  Company-Owned |  Domestic Franchise   | International Franchise |  Total |
|-------------------|---------------------|----------------------------|-------------------------|-------------|
| 2011              |  750      |    43  | 53                      | 846         |
| 2010              |  656      |  165             | 58                      | 879         |
| 2009              |  672      |  173             | 56                      | 901         |
| 2008              |  721      |  170             | 54                      | 945         |
| 2007              |  680      |  199             | 54                      | 933         |

| ·   | 109 Company-owned Ruby Tuesday restaurants were acquired, including 106 purchased from certain of our franchise partnerships and three purchased from a traditional domestic franchisee; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | We opened our first Truffles and Marlin & Ray’s concept restaurants, each of which was converted from an existing Ruby Tuesday concept restaurant; |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | 15 Company-owned Ruby Tuesday restaurants were closed, three of which have been converted to then-existing concepts, one in anticipation of conversion to another high-quality casual dining concept, and two as the result of tornadic activity in April 2011; and |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ·   | Aside from the restaurants sold to the Company, seven franchise restaurants were opened and 25 were closed.  Additionally, a traditional international franchisee opened one Wok Hay restaurant. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | No Company-owned Ruby Tuesday restaurants were opened; |
|--------------------|--------------------------------------------------------|

| ·   | 16 Company-owned Ruby Tuesday restaurants were closed; |
|--------------------|--------------------------------------------------------|

| ·   | Six (two domestic and four international) franchise restaurants were opened and 12 (10 domestic and two international) were closed; and |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------|

| ·   | We sold 11.5 million shares of Ruby Tuesday, Inc. common stock in an underwritten public offering, receiving approximately $73.1 million in net proceeds from the sale of the shares, after deducting underwriting discounts and offering expenses. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Fiscal Year | Company-Owned                                                                                                 | Franchise (a)     |
|-------------|---------------------------------------------------------------------------------------------------------------|-------------------|
| 2011        |               $ 1,258.0                 | $ 289.4           |
| 2010        |                  1,188.0 |   368.9 |
| 2009        |                  1,239.1 |  383.7       |
| 2008        |                  1,346.7 |  412.0       |
| 2007        |                  1,395.2 |  471.6       |

| (a)   | Includes sales of all domestic and international franchised Ruby Tuesday restaurants. |
|-----------------|---------------------------------------------------------------------------------------|

|                                                       | 2011                   |   | 2010                      |   | 2009                      |   |
|------------------------------------------------------------|------------------------|--------|---------------------------|--------|---------------------------|--------|
| Company restaurant sales (in thousands)                    | $1,258,015             |   | $1,188,043                |   | $1,239,104                |   |
| Company restaurant sales growth-percentage                 |   5.9%       |   |   (4.1)%        |   |   (8.0)%        |   |
|                                                       |                   |   |                      |   |                      |   |
| Franchise revenue (in thousands) (a)                       | $7,147                 |   | $6,753                    |   | $9,452                    |   |
| Franchise revenue growth-percentage                        |    5.8% |   |    (28.6)% |   |    (30.4)% |   |
|                                                       |                   |   |                      |   |                      |   |
| Total revenue (in thousands)                               | $1,265,162             |   | $1,194,796                |   | $1,248,556                |   |
| Total revenue growth-percentage                            |   5.9%       |   |   (4.3)%        |   |   (8.2)%        |   |
|                                                       |                   |   |                      |   |                      |   |
| Company same-restaurant sales growth percentage            | 0.9%                   |   |   (1.3)%        |   | (7.9)%                    |   |
|                                                       |                   |   |                      |   |                      |   |
| Company average restaurant volumes                         | $1.81 million          |   | $1.79 million             |   | $1.80 million             |   |
| Company average restaurant volumes growth percentage  |  1.5%             |   |  (0.9)%              |   |  (5.1)%              |   |

| (a)   | Franchise revenue includes royalty, license, and development fees paid to us by our franchisees, exclusive of support service fees of $3.1 million, $4.6 million, and $6.3 million, in fiscal years 2011, 2010, and 2009, respectively, which are recorded as an offset to selling, general, and administrative expenses. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                          | 2011          |   | 2010         |   | 2009         |   |
|-----------------------------------------------|---------------|--------|--------------|--------|--------------|--------|
| Franchise restaurant sales (in thousands) (a) | $289,446      |   | $368,937     |   | $383,738     |   |
| Franchise restaurant sales growth-percentage  |  (21.5)% |   |  (3.9)% |   |  (6.9)% |   |

| (a)   |  Includes sales of all domestic and international franchised Ruby Tuesday restaurants. |
|-----------------|---------------------------------------------------------------------------------------------|

----

|                                                                                   | 2011   |   | 2010   |   | 2009   |   |
|----------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Restaurant sales and operating revenue                                                 | 99.4   | %      | 99.4   | %      | 99.2   | %      |
| Franchise revenue                                                                      | 0.6    |   | 0.6    |   | 0.8    |   |
|    Total revenue                                                        | 100.0  |   | 100.0  |   | 100.0  |   |
| Operating costs and expenses:                                                          |   |   |   |   |   |   |
|    (As a percentage of restaurant sales and operating                   |   |   |   |   |   |   |
|      revenue):                                                |   |   |   |   |   |   |
|      Cost of merchandise                                      | 29.1   |   | 29.0   |   | 28.2   |   |
|      Payroll and related costs                                | 33.6   |   | 33.4   |   | 34.0   |   |
|      Other restaurant operating costs                         | 20.4   |   | 20.3   |   | 20.7   |   |
|      Depreciation                                             | 5.0    |   | 5.4    |   | 6.1    |   |
|    (As a percentage of total revenue):                                  |   |   |   |   |   |   |
|      Selling, general, and administrative, net of support     |   |   |   |   |   |   |
|        service fees                                 | 6.8    |   | 5.9    |   | 6.6    |   |
|      Closures and impairments                                 | 0.5    |   | 0.3    |   | 4.4    |   |
|      Goodwill impairment                                      |   |   |   |   | 1.5    |   |
|      Equity in losses/(earnings) of unconsolidated franchises |   |   |   |   |   |   |
|      Interest expense, net                                    | 1.0    |   | 1.4    |   | 2.7    |   |
| Total operating costs and expenses                                                     | 95.8   |   | 95.2   |   | 103.4  |   |
| Income/(loss) before income taxes                                                      | 4.2    |   | 4.8    |   | (3.4   | )      |
| Provision/(benefit) for income taxes                                                   | 0.5    |   | 1.0    |   | (2.0   | )      |
| Net income/(loss)                                                                      | 3.7    | %      | 3.8    | %      | (1.4   | )%     |

----

| Total revenue                        |   | $      | 76,068 |   |
|--------------------------------------|--------|--------|--------|--------|
|                                 |   |   |   |   |
| Cost of merchandise                  |   |   | 22,349 |   |
| Payroll and related costs            |   |   | 25,535 |   |
| Other restaurant operating costs     |   |   | 16,499 |   |
| Depreciation                         |   |   | 3,432  |   |
| Selling, general, and administrative |   |   | 4,431  |   |
|                                 |   |   | 72,246 |   |
| Income before income taxes           |   | $      | 3,822  |   |

| Total revenue                        |   | $      | 29,358 |   |
|--------------------------------------|--------|--------|--------|--------|
|                                 |   |   |   |   |
| Cost of merchandise                  |   |   | 8,802  |   |
| Payroll and related costs            |   |   | 14,172 |   |
| Other restaurant operating costs     |   |   | 10,129 |   |
| Depreciation                         |   |   | 2,000  |   |
| Selling, general, and administrative |   |   | 2,098  |   |
|                                 |   |   | 37,201 |   |
| Net loss                             |   | $      | (7,843 | )      |

----

----

| Net gain on franchise acquisitions                  |   | $      | (6,676 | )      |
|-----------------------------------------------------|--------|--------|--------|--------|
| Rent and leasing                                    |   |   | (2,427 | )      |
| Supplies                                            |   |   | (2,231 | )      |
| Bad debt expense                                    |   |   | (1,159 | )      |
| Insurance                                           |   |   | (915   | )      |
| Franchise partnership debt guarantees               |   |   | 6,705  |   |
| Repairs                                             |   |   | 1,831  |   |
| Cable package upgrades                              |   |   | 1,065  |   |
| Credit card fees                                    |   |   | 900    |   |
| Reduced Visa/Mastercard antitrust settlement income |   |   | 838    |   |
| Other increases                                     |   |   | 1,254  |   |
| Net reductions                                      |   | $      | (815   | )      |

| Utilities                            |   | $      | 3,277  |   |
|--------------------------------------|--------|--------|--------|--------|
| Bad debt expense                     |   |   | 1,960  |   |
| Rent and leasing                     |   |   | 1,535  |   |
| Supplies                             |   |   | 1,050  |   |
| Visa/MasterCard antitrust settlement |   |   | 922    |   |
| Other                                |   |   | 889    |   |
| Repairs                              |   |   | (3,069 | )      |
| Insurance                            |   |   | (1,578 | )      |
| Net reductions                       |   | $      | 4,986  |   |

----

----

----

|                                                       | 2011   | 2010    | 2009   |
|------------------------------------------------------------|--------|---------|--------|
| Net cash provided by operating activities                  | $      | 116,292 |   | $ | 140,264 |   | $ | 102,569 |   |
| Net cash (used)/provided by investing activities           |   | (24,492 | )      |   | (9,439 | ) |   | 3,195 |   |
| Net cash used by financing activities                      |   | (91,647 | )      |   | (131,016 | ) |   | (112,036 | ) |
| Net increase/(decrease) in cash and short-term investments | $      | 153     |   | $ | (191 | ) | $ | (6,272 | ) |

----

----

----

|                                                               |  Payments Due By Period           |
|--------------------------------------------------------------------|----------------------------------------|
|                                                               |                                   | Less than | 1-3 | 3-5 | More than 5 |
|                                                               | Total                                  | 1 year | years | years | years |
| Notes payable and other   long-term debt, including |                                   |   |   |   |   |   |   |   |   |   |
|    current maturities (a)                      | $     122,832      |   | $      15,090 |   | $       29,529 |   | $     30,367 |   | $     47,846 |   |
| Revolving credit facility (a)                                      | 177,000                                |   |   |   |   |   | 177,000 |   |   |   |
| Senior notes (Series B) (a)                                        | 44,442                                 |   |   |   | 44,442 |   |   |   |   |   |
| Interest (b)                                                       | 47,494                                 |   | 11,583 |   | 16,805 |   | 9,758 |   | 9,348 |   |
| Operating leases (c)                                               | 363,523                                |   | 44,368 |   | 78,901 |   | 63,646 |   | 176,608 |   |
| Purchase obligations (d)                                           | 112,816                                |   | 53,534 |   | 30,910 |   | 25,280 |   | 3,092 |   |
| Pension obligations (e)                                            | 40,698                                 |   | 10,968 |   | 6,422 |   | 5,002 |   | 18,306 |   |
|    Total (f)                                        | $     908,805 |   | $    135,543 |   | $     207,009 |   | $   311,053 |   | $   255,200 |   |

| (a)   | See Note 7 to the Consolidated Financial Statements for more information on our debt. |
|-----------------|---------------------------------------------------------------------------------------|

| (b)   | Amounts represent contractual interest payments on our fixed-rate debt instruments.  Interest payments on our variable-rate revolving credit facility and variable-rate notes payable with balances of $177.0 million and $16.4 million, respectively, as of May 31, 2011 have been excluded from the amounts shown above, primarily because the balance outstanding under our revolving credit facility, described further in Note 7 of the Consolidated Financial Statements, fluctuates daily.  The interest rates on the other excluded debt can fluctuate monthly.  Additionally, the amounts shown above include interest payments on the Series B Notes at the current interest rate of 7.17%.  This rate could be different in the future based upon certain leverage ratios. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | This amount includes operating leases totaling $2.7 million for which sublease income from franchisees or others is expected.  Certain of these leases obligate us to pay maintenance costs, utilities, real estate taxes, and insurance, which are excluded from the amounts shown above.  See Note 6 to the Consolidated Financial Statements for more information. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d)   | The amounts for purchase obligations include cash commitments under contract for food items and supplies, utility contracts, and other miscellaneous commitments. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (e)   | See Note 9 to the Consolidated Financial Statements for more information. |
|-----------------|---------------------------------------------------------------------------|

| (f)   | This amount excludes $5.2 million of unrecognized tax benefits due to the uncertainty regarding the timing of future cash outflows associated with such obligations. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                    |  Payments Due By Period |
|-------------------------|------------------------------|
|                    |                         | Less than | 1-3 | 3-5 | More than 5 |
|                    | Total                        | 1 year | years | years | years |
| Letters of credit       | $    8,284    |   | $    8,284 |   | $             |   | $             |   | $             |   |
| Divestiture guarantees  | 5,880                        |   | 1,392 |   | 996 |   | 990 |   | 2,502 |   |
|    Total | $  14,164          |   | $    9,676 |   | $      996 |   | $      990 |   | $   2,502 |   |

----

----

----

----

Item 7A. Quantitative and Qualitative

Disclosure About Market Risk

----

Item 8. Financial Statements and Supplementary Data

|                                                                                                  |   |
|-------------------------------------------------------------------------------------------------------|--------|
| Consolidated Statements of Operations for the Fiscal Years Ended                                      |   |
|       May 31, 2011, June 1, 2010, and June 2, 2009                      | 41     |
|                                                                                                  |   |
| Consolidated Balance Sheets as of May 31, 2011 and June 1, 2010                                       | 42     |
|                                                                                                  |   |
| Consolidated Statements of Shareholders' Equity and Comprehensive Income/(Loss)                       |   |
|      for the Fiscal Years Ended May 31, 2011, June 1, 2010, and June 2, 2009 | 43     |
|                                                                                                  |   |
| Consolidated Statements of Cash Flows for the Fiscal Years Ended                                      |   |
|      May 31, 2011, June 1, 2010, and June 2, 2009                            | 44     |
|                                                                                                  |   |
| Notes to Consolidated Financial Statements                                                            | 45-77  |
|                                                                                                  |   |
| Reports of Independent Registered Public Accounting Firm                                              | 78-79  |

----

|  Ruby Tuesday, Inc. and Subsidiaries                                                   |   |                      |        |
|---------------------------------------------------------------------------------------------|--------|---------------------------|-------------|
| Consolidated Financial Statements                                                           |   |                      |        |
| Consolidated Statements of Operations                                                       |   |                      |        |
| (In thousands, except per-share data)                                                       |   |                      |        |
|                                                                                        |   |                      |        |
|                                                                                        |   | For the Fiscal Year Ended |        |
|                                                                                        |   | May 31,                   |        |   | June 1, |   |   | June 2, |   |
|                                                                                        |   | 2011                      |        |   | 2010 |   |   | 2009 |   |
|                                                                                        |   |                      |        |   |   |   |   |   |   |
| Revenue:                                                                                    |   |                      |        |   |   |   |   |   |   |
|  Restaurant sales and operating revenue                                                |   | $                         | 1,258,015   |   |   | $ | 1,188,043 |   |   | $ | 1,239,104 |   |
|  Franchise revenue                                                                     |   |                      | 7,147       |   |   |   | 6,753 |   |   |   | 9,452 |   |
|                                                                                        |   |                      | 1,265,162   |   |   |   | 1,194,796 |   |   |   | 1,248,556 |   |
|                                                                                        |   |                      |        |   |   |   |   |   |   |   |   |   |
| Operating costs and expenses:                                                               |   |                      |        |   |   |   |   |   |   |   |   |   |
|  Cost of merchandise                                                                   |   |                      | 365,653     |   |   |   | 344,462 |   |   |   | 349,362 |   |
|  Payroll and related costs                                                             |   |                      | 422,230     |   |   |   | 396,877 |   |   |   | 421,023 |   |
|  Other restaurant operating costs                                                      |   |                      | 256,632     |   |   |   | 240,947 |   |   |   | 256,063 |   |
|  Depreciation                                                                          |   |                      | 62,878      |   |   |   | 63,767 |   |   |   | 74,973 |   |
|  Selling, general, and administrative, net of support service                          |   |                      |        |   |   |   |   |   |   |   |   |   |
|     fee income totaling $3,129 in 2011, $4,610 in 2010                  |   |                      |        |   |   |   |   |   |   |   |   |   |
|     and $6,295 in 2009                                                  |   |                      | 85,971      |   |   |   | 70,526 |   |   |   | 82,167 |   |
|  Closures and impairments                                                              |   |                      | 6,249       |   |   |   | 3,776 |   |   |   | 54,951 |   |
|  Goodwill impairment                                                                   |   |                      |        |   |   |   |   |   |   |   | 18,957 |   |
|  Equity in losses/(earnings) of unconsolidated franchises                              |   |                      | 574         |   |   |   | 328 |   |   |   | (14 | ) |
|  Interest expense, net of interest income totaling                                     |   |                      |        |   |   |   |   |   |   |   |   |   |
|     $522 in 2011, $990 in 2010 and $1,052 in 2009                       |   |                      | 12,353      |   |   |   | 16,355 |   |   |   | 33,940 |   |
|                                                                                        |   |                      | 1,212,540   |   |   |   | 1,137,038 |   |   |   | 1,291,422 |   |
|                                                                                        |   |                      |        |   |   |   |   |   |   |   |   |   |
| Income/(loss) before income taxes                                                           |   |                      | 52,622      |   |   |   | 57,758 |   |   |   | (42,866 | ) |
| Provision/(benefit) for income taxes                                                        |   |                      | 5,744       |   |   |   | 12,414 |   |   |   | (24,948 | ) |
|                                                                                        |   |                      |        |   |   |   |   |   |   |   |   |   |
| Net income/(loss)                                                                           |   | $                         | 46,878      |   |   | $ | 45,344 |   |   | $ | (17,918 | ) |
|                                                                                        |   |                      |        |   |   |   |   |   |   |   |   |   |
| Earnings/(loss) per share:                                                                  |   |                      |        |   |   |   |   |   |   |   |   |   |
|     Basic                                                               |   | $                         |   0.73 |   |   | $ |   0.74 |   |   | $ | (0.35 | ) |
|     Diluted                                                             |   | $                         |   0.72 |   |   | $ |   0.73 |   |   | $ | (0.35 | ) |
|                                                                                        |   |                      |        |   |   |   |   |   |   |   |   |   |
| Weighted average shares:                                                                    |   |                      |        |   |   |   |   |   |   |   |   |   |
|     Basic                                                               |   |                      | 64,029      |   |   |   | 61,533 |   |   |   | 51,395 |   |
|     Diluted                                                             |   |                      | 64,948      |   |   |   | 61,870 |   |   |   | 51,395 |   |
|  The accompanying notes are an integral part of the consolidated financial statements. |   |

----

Ruby Tuesday, Inc. and Subsidiaries

|                                                                                                                                   |   | May 31,2011 |      |   | June 1,2010 |   |
|----------------------------------------------------------------------------------------------------------------------------------------|--------|-------------|-----------|--------|-------------|--------|
| Assets:                                                                                                                                |   |        |      |   |        |   |
| Current assets:                                                                                                                        |   |        |      |   |        |   |
|     Cash and short-term investments                                                                                |   | $           | 9,722     |   |        | $      | 9,569 |   |
|     Accounts and notes receivable, net                                                                             |   |        | 7,531     |   |        |   | 9,746 |   |
|     Inventories:                                                                                                   |   |        |      |   |        |   |   |   |
|          Merchandise                                                                      |   |        | 25,627    |   |        |   | 21,145 |   |
|          China, silver and supplies                                                       |   |        | 8,843     |   |        |   | 7,668 |   |
|     Income tax receivable                                                                                          |   |        | 3,077     |   |        |   |   |   |
|     Deferred income taxes                                                                                          |   |        | 14,429    |   |        |   | 13,794 |   |
|     Prepaid rent and other expenses                                                                                |   |        | 12,797    |   |        |   | 11,154 |   |
|     Assets held for sale                                                                                           |   |        | 1,340     |   |        |   | 3,234 |   |
|          Total current assets                                                             |   |        | 83,366    |   |        |   | 76,310 |   |
|                                                                                                                                   |   |        |      |   |        |   |   |   |
| Property and equipment, net                                                                                                            |   |        | 1,031,151 |   |        |   | 943,486 |   |
| Goodwill                                                                                                                               |   |        | 15,571    |   |        |   |   |   |
| Notes receivable, net                                                                                                                  |   |        |      |   |        |   | 269 |   |
| Other assets                                                                                                                           |   |        | 56,938    |   |        |   | 43,964 |   |
| Total assets                                                                                                                           |   | $           | 1,187,026 |   |        | $      | 1,064,029 |   |
|                                                                                                                                   |   |        |      |   |        |   |   |   |
| Liabilities and Shareholders' Equity:                                                                                                  |   |        |      |   |        |   |   |   |
| Current liabilities:                                                                                                                   |   |        |      |   |        |   |   |   |
|     Accounts payable                                                                                                    |   | $           | 29,807    |   |        | $      | 22,951 |   |
|     Accrued liabilities:                                                                                           |   |        |      |   |        |   |   |   |
|          Taxes, other than income taxes                                                   |   |        | 23,425    |   |        |   | 19,905 |   |
|          Payroll and related costs                                                             |   |        | 17,829    |   |        |   | 22,425 |   |
|          Insurance                                                                             |   |        | 6,581     |   |        |   | 8,219 |   |
|          Deferred revenue – gift cards                                                   |   |        | 8,731     |   |        |   | 8,473 |   |
|          Rent and other                                                                        |   |        | 17,861    |   |        |   | 18,983 |   |
|      Current maturities of long-term debt, including capital leases                                           |   |        | 15,090    |   |        |   | 12,776 |   |
|      Income tax payable                                                                                       |   |        |      |   |        |   | 1,049 |   |
|          Total current liabilities                                                        |   |        | 119,324   |   |        |   | 114,781 |   |
|                                                                                                                                   |   |        |      |   |        |   |   |   |
| Long-term debt and capital leases, less current maturities                                                                             |   |        | 329,184   |   |        |   | 276,490 |   |
| Deferred income taxes                                                                                                                  |   |        | 42,923    |   |        |   | 40,010 |   |
| Deferred escalating minimum rent                                                                                                       |   |        | 44,291    |   |        |   | 42,305 |   |
| Other deferred liabilities                                                                                                             |   |        | 59,591    |   |        |   | 52,343 |   |
| Total liabilities                                                                                                                      |   |        | 595,313   |   |        |   | 525,929 |   |
|                                                                                                                                   |   |        |      |   |        |   |   |   |
| Commitments and contingencies (Note 12)                                                                                                |   |        |      |   |        |   |   |   |
|                                                                                                                                   |   |        |      |   |        |   |   |   |
| Shareholders’ equity:                                                                                                            |   |        |      |   |        |   |   |   |
|      Common stock, $0.01 par value; (authorized:  100,000  shares;                        |   |        |      |   |        |   |   |   |
|           issued:  2011 – 65,098 shares, 2010 – 64,492 shares) |   |        | 651       |   |        |   | 645 |   |
|      Capital in excess of par value                                                                           |   |        | 104,941   |   |        |   | 98,337 |   |
|      Retained earnings                                                                                        |   |        | 499,173   |   |        |   | 452,295 |   |
|      Deferred compensation liability payable in Company stock                                                 |   |        | 1,556     |   |        |   | 2,036 |   |
|      Company stock held by Deferred Compensation Plan                                                         |   |        | (1,556    | )      |        |   | (2,036 | ) |
|      Accumulated other comprehensive loss                                                                     |   |        | (13,052   | )      |        |   | (13,177 | ) |
|                                                                                                                                   |   |        | 591,713   |   |        |   | 538,100 |   |
| Total liabilities and shareholders' equity                                                                                             |   | $           | 1,187,026 |   |        | $      | 1,064,029 |   |

----

| Ruby Tuesday, Inc. and Subsidiaries                                           |
|-------------------------------------------------------------------------------|
| Consolidated Statements of Shareholders’ Equity                         |
| and Comprehensive Income/(Loss)                                               |
| (In thousands, except per-share data)                                         |
|                                                                          |   |   |   |   |   |   |   |   |   |   | Company Stock |   |   |   |   |   |   |
|                                                                          |   |   |   |   |   |   |   |   | Held by the |   | Accumulated |   |   |   |   |
|                                                                          | Common Stock |   | Capital In |   |   |   | Deferred |   | Deferred |   | Other |   | Total |   |   |
|                                                                          | Issued |   | Excess of |   | Retained |   | Compensation |   | Compensation |   | Comprehensive |   | Shareholders’ |   |   |
| Shares                                                                        |   | Amount | Par Value | Earnings | Liability | Plan | Loss | Equity |   |
|                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance, June 3, 2008                                                         | 52,772 |   | $528 |   | $15,081 |   | $425,606 |   | $2,877 |   | $(2,877 | ) | $(9,697 | ) | $431,518 |   |   |
|    Net loss                                                    |   |   |   |   |   |   | (17,918 | ) |   |   |   |   |   |   | (17,918 | ) |   |
|    Pension and post-retirement                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|        benefit plans, net of taxes         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|        of $1,372                           |   |   |   |   |   |   |   |   |   |   |   |   | (2,085 | ) | (2,085 | ) |   |
|    Comprehensive loss                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (20,003 | ) |   |
|    Adjustment to change measurement                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|        date of pension and post-retirement |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|        benefit plans, net of taxes of $237 |   |   |   |   |   |   | (360 | ) |   |   |   |   | (135 | ) | (495 | ) |   |
|        and $89, respectively               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    Adjustment to split-dollar life                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|        insurance, net of taxes of $248     |   |   |   |   |   |   | (377 | ) |   |   |   |   |   |   | (377 | ) |   |
|    Shares issued pursuant to                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|        compensation plans, net of          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|        cancellations                       | 34 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    Share-based compensation, net of                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|        taxes of $274                       |   |   |   |   | 5,723 |   |   |   |   |   |   |   |   |   | 5,723 |   |   |
|    Changes in Deferred                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|        Compensation Plan                   |   |   |   |   |   |   |   |   | (677 | ) | 677 |   |   |   | 0 |   |   |
| Balance, June 2, 2009                                                         | 52,806 |   | 528 |   | 20,804 |   | 406,951 |   | 2,200 |   | (2,200 | ) | (11,917 | ) | 416,366 |   |   |
|    Net income                                                  |   |   |   |   |   |   | 45,344 |   |   |   |   |   |   |   | 45,344 |   |   |
|    Pension and post-retirement                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|        benefit plans, net of taxes         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|        of $829                             |   |   |   |   |   |   |   |   |   |   |   |   | (1,260 | ) | (1,260 | ) |   |
|    Comprehensive income                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 44,084 |   |   |
|    Common stock offering                                       | 11,500 |   | 115 |   | 73,010 |   |   |   |   |   |   |   |   |   | 73,125 |   |   |
|    Shares issued pursuant to                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|        compensation plans, net of          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|        cancellations                       | 186 |   | 2 |   | (2 | ) |   |   |   |   |   |   |   |   | 0 |   |   |
|    Share-based compensation, net of                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|        taxes of $2,741                     |   |   |   |   | 4,525 |   |   |   |   |   |   |   |   |   | 4,525 |   |   |
|    Changes in Deferred                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|        Compensation Plan                   |   |   |   |   |   |   |   |   | (164 | ) | 164 |   |   |   | 0 |   |   |
| Balance, June 1, 2010                                                         | 64,492 |   | 645 |   | 98,337 |   | 452,295 |   | 2,036 |   | (2,036) |   | (13,177 | ) | 538,100 |   |   |
|    Net income                                                  |   |   |   |   |   |   | 46,878 |   |   |   |   |   |   |   | 46,878 |   |   |
|    Pension and post-retirement                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|        benefit plans, net of taxes         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|        of $82                              |   |   |   |   |   |   |   |   |   |   |   |   | 125 |   | 125 |   |   |
|    Comprehensive income                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 47,003 |   |   |
|    Shares issued pursuant to                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|        compensation plans, net of          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|        cancellations                       | 606 |   | 6 |   | 1,897 |   |   |   |   |   |   |   |   |   | 1,903 |   |   |
|    Share-based compensation, net of                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|        taxes of $3,156                     |   |   |   |   | 4,707 |   |   |   |   |   |   |   |   |   | 4,707 |   |   |
|    Changes in Deferred                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|        Compensation Plan                   |   |   |   |   |   |   |   |   | (480 | ) | 480 |   |   |   | 0 |   |   |
| Balance, May 31, 2011                                                         | 65,098 |   | $651 |   | $104,941 |   | $499,173 |   | $1,556 |   | $(1,556 | ) | $(13,052 | ) | $591,713 |   |   |

----

Ruby Tuesday, Inc. and Subsidiaries

| (In thousands)                                                                                                                                        |   | For the Fiscal Year Ended |    |
|-------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------|---------|
|                                                                                                                                                  |   | May 31, 2011              |    |   | June 1, 2010 |   |   | June 2, 2009 |   |
| Operating activities:                                                                                                                                 |   |                      |    |   |   |   |   |   |   |
|      Net income/(loss)                                                                                                       |   | $                         | 46,878  |   |   | $ | 45,344 |   |   | $ | (17,918 | ) |
|      Adjustments to reconcile net income/(loss) to net                                                                       |   |                      |    |   |   |   |   |   |   |   |   |   |
|         cash provided by operating activities:                                                                |   |                      |    |   |   |   |   |   |   |   |   |   |
|             Depreciation                                                                  |   |                      | 62,878  |   |   |   | 63,767 |   |   |   | 74,973 |   |
|             Amortization of intangibles                                                   |   |                      | 1,477   |   |   |   | 652 |   |   |   | 726 |   |
|              Provision for bad debts                                                 |   |                      | 570     |   |   |   | 1,730 |   |   |   | 3,690 |   |
|              Deferred income taxes                                                   |   |                      | (1,486  | ) |   |   | 19,516 |   |   |   | (16,315 | ) |
|              Loss on impairments, including disposition of assets                    |   |                      | 6,916   |   |   |   | 3,059 |   |   |   | 42,500 |   |
|              Goodwill impairment                                                     |   |                      |    |   |   |   |   |   |   |   | 18,957 |   |
|              Equity in losses/(earnings) of unconsolidated franchises                |   |                      | 574     |   |   |   | 328 |   |   |   | (14 | ) |
|              Share-based compensation expense                                        |   |                      | 7,863   |   |   |   | 7,266 |   |   |   | 6,007 |   |
|              Excess tax benefits from share-based compensation                       |   |                      | (599    | ) |   |   |   |   |   |   |   |   |
|              Gain on franchise partnership acquisitions, net of settlement losses    |   |                      | (6,676  | ) |   |   |   |   |   |   |   |   |
|              Other                                                                   |   |                      | 708     |   |   |   | 1,941 |   |   |   | 1,869 |   |
|              Changes in operating assets and liabilities:                            |   |                      |    |   |   |   |   |   |   |   |   |   |
|                  Receivables                                     |   |                      | 265     |   |   |   | (2,748 | ) |   |   | 33 |   |
|                  Inventories                                     |   |                      | (2,453  | ) |   |   | (7,788 | ) |   |   | 329 |   |
|                  Income taxes                                    |   |                      | (4,126  | ) |   |   | 9,681 |   |   |   | (924 | ) |
|                  Prepaid and other assets                        |   |                      | (1,013  | ) |   |   | (2,281 | ) |   |   | 6,911 |   |
|                  Accounts payable, accrued and other liabilities |   |                      | 4,516   |   |   |   | (203 | ) |   |   | (18,255 | ) |
| Net cash provided by operating activities                                                                                                             |   |                      | 116,292 |   |   |   | 140,264 |   |   |   | 102,569 |   |
|                                                                                                                                                  |   |                      |    |   |   |   |   |   |   |   |   |   |
| Investing activities:                                                                                                                                 |   |                      |    |   |   |   |   |   |   |   |   |   |
|      Purchases of property and equipment                                                                                     |   |                      | (26,684 | ) |   |   | (17,672 | ) |   |   | (17,186 | ) |
|      Acquisition of franchise and other entities, net of cash acquired                                                       |   |                      | (4,257  | ) |   |   |   |   |   |   | (673 | ) |
|      Proceeds from disposal of assets                                                                                        |   |                      | 6,741   |   |   |   | 5,479 |   |   |   | 11,660 |   |
|      Reductions in Deferred Compensation Plan assets                                                                         |   |                      | 535     |   |   |   | 694 |   |   |   | 6,643 |   |
|      Other, net                                                                                                              |   |                      | (827    | ) |   |   | 2,060 |   |   |   | 2,751 |   |
| Net cash (used)/provided by investing activities                                                                                                      |   |                      | (24,492 | ) |   |   | (9,439 | ) |   |   | 3,195 |   |
|                                                                                                                                                  |   |                      |    |   |   |   |   |   |   |   |   |   |
| Financing activities:                                                                                                                                 |   |                      |    |   |   |   |   |   |   |   |   |   |
|      Net payments on revolving credit facility                                                                               |   |                      | (67,900 | ) |   |   | (115,300 | ) |   |   | (95,300 | ) |
|      Principal payments on other long-term debt                                                                              |   |                      | (23,437 | ) |   |   | (88,841 | ) |   |   | (16,736 | ) |
|      Proceeds from issuance of stock, net of fees                                                                            |   |                      |    |   |   |   | 73,125 |   |   |   |   |   |
|      Proceeds from exercise of stock options                                                                                 |   |                      | 1,903   |   |   |   |   |   |   |   |   |   |
|      Excess tax benefits from share-based compensation                                                                       |   |                      | 599     |   |   |   |   |   |   |   |   |   |
|      Payments for debt issuance costs                                                                                        |   |                      | (2,812  | ) |   |   |   |   |   |   |   |   |
| Net cash used by financing activities                                                                                                                 |   |                      | (91,647 | ) |   |   | (131,016 | ) |   |   | (112,036 | ) |
|                                                                                                                                                  |   |                      |    |   |   |   |   |   |   |   |   |   |
| Increase/(decrease) in cash and short-term investments                                                                                                |   |                      | 153     |   |   |   | (191 | ) |   |   | (6,272 | ) |
| Cash and short-term investments:                                                                                                                      |   |                      |    |   |   |   |   |   |   |   |   |   |
|      Beginning of year                                                                                                       |   |                      | 9,569   |   |   |   | 9,760 |   |   |   | 16,032 |   |
|      End of year                                                                                                             |   | $                         | 9,722   |   |   | $ | 9,569 |   |   | $ | 9,760 |   |
|                                                                                                                                                  |   |                      |    |   |   |   |   |   |   |   |   |   |
| Supplemental disclosure of cash flow information-                                                                                                     |   |                      |    |   |   |   |   |   |   |   |   |   |
|      Cash paid/(received) for:                                                                                               |   |                      |    |   |   |   |   |   |   |   |   |   |
|       Interest, net of amount capitalized                                                                               |   | $                         | 12,442  |   |   | $ | 18,944 |   |   | $ | 34,171 |   |
|       Income taxes, net                                                                                                 |   | $                         | 8,924   |   |   | $ | (14,100 | ) |   | $ | (7,050 | ) |
| Significant non-cash investing and financing activities-                                                                                              |   |                      |    |   |   |   |   |   |   |   |   |   |
|      Retirement of fully depreciated assets                                                                                  |   | $                         | 15,830  |   |   | $ | 27,491 |   |   | $ | 45,445 |   |
|      Reclassification of properties to/(from) assets held for sale or receivables                                            |   | $                         | 3,405   |   |   | $ | (8,175 | ) |   | $ | 9,580 |   |
|      Assumption of debt and capital leases related to franchise                                                              |   |                      |    |   |   |   |   |   |   |   |   |   |
|         partnership acquisitions                                                                              |   | $                         | 147,005 |   |   |   |   |   |   |   |   |   |
|      Liability for claim settlements and insurance receivables                                                               |   | $                         | (2,332  | ) |   | $ | 2,607 |   |   | $ | (660 | ) |
|  The accompanying notes are an integral part of the consolidated financial statements.                                                           |   |                      |    |   |   |   |   |   |   |

----

Ruby Tuesday, Inc. and Subsidiaries

----

----

|                                                              |   | 2011                               |   | 2010                               |   | 2009                                                    |
|-------------------------------------------------------------------|--------|------------------------------------|--------|------------------------------------|--------|---------------------------------------------------------|
|   Net income/(loss)                                     | $      | 46,878                             | $      | 45,344                             | $      | (17,918)                                                |
|                                                              |   |                               |   |                               |   |                                                    |
|   Weighted-average common shares outstanding            |   | 64,029                             |   | 61,533                             |   | 51,395                                                  |
|   Dilutive effect of stock options and restricted stock |   |      919  |   |      337  |   |         – |
|   Weighted average common and dilutive potential        |   |                               |   |                               |   |                                                    |
|     common shares outstanding                 |   | 64,948                             |   | 61,870                             |   | 51,395                                                  |
|   Basic earnings/(loss) per share                       | $      |      0.73 | $      |      0.74 | $      |     (0.35)                          |
|   Diluted earnings/(loss) per share                     | $      |      0.72 | $      |      0.73 | $      |     (0.35)                          |

|                          |   | 2011                              |   | 2010                              |   | 2009              |
|-------------------------------|--------|-----------------------------------|--------|-----------------------------------|--------|-------------------|
|   Stock options     |   |   2,517                 |   |   4,450                 |   |   4,802 |
|   Restricted shares |   |      421 |   |      884 |   |   1,388 |
|   Total             |   |   2,938                 |   |   5,334                 |   |   6,190 |

----

| Balance at June 2, 2009            |                                                                                         |
|------------------------------------|----------------------------------------------------------------------------------------------|
|    and June 1, 2010 |  $             – |
| Acquisitions                       | 15,571                                                                                       |
| Balance at May 31, 2011            |  $  15,571                                                                    |

----

|                         |   | 2011                 |   |   | 2010                    |   |
|------------------------------|--------|----------------------|--------|--------|-------------------------|--------|
|                         |   | Gross CarryingAmount |   |   | AccumulatedAmortization |   |   | Gross CarryingAmount |   |   | AccumulatedAmortization |   |
|                         |   |                 |   |   |                    |   |   |   |   |   |   |   |
| Reacquired franchise rights  |   | $                    | 14,900 |   |                    | $      | 2,956 |   |   | $ | 4,658 |   |   | $ | 1,780 |   |
| Favorable lease valuations * |   |                 | 2,023  |   |                    |   | 63 |   |   |   | – |   |   |   | – |   |
| Trademarks                   |   |                 | 836    |   |                    |   | 672 |   |   |   | 1,659 |   |   |   | 1,222 |   |
|                         |   | $                    | 17,759 |   |                    | $      | 3,691 |   |   | $ | 6,317 |   |   | $ | 3,002 |   |

| ·   | Level 1 – Observable inputs such as quoted prices in active markets for identical assets or liabilities; |
|--------------------|----------------------------------------------------------------------------------------------------------------|

| ·   | Level 2 – Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and |
|--------------------|----------------------------------------------------------------------------------------------------------------------------|

| ·   | Level 3 – Unobservable inputs which require the reporting entity to develop its own assumptions. |
|--------------------|--------------------------------------------------------------------------------------------------------|

----

----

| Fiscal Year |   | Franchise Partnerships |   | Other Domestic |   | International |   | Total |
|-------------|--------|------------------------|--------|----------------|--------|---------------|--------|-------|
| 2011        |   | 1                      |   | 4              |   | 3*            |   | 8     |
| 2010        |   | –                |   | 2              |   | 4             |   | 6     |
| 2009        |   | –                |   | 10             |   | 9             |   | 19    |

----

| Property and equipment                                               |   | $      | 137,075  |   |
|----------------------------------------------------------------------|--------|--------|----------|--------|
| Goodwill                                                             |   |   | 15,571   |   |
| Reacquired franchise rights                                          |   |   | 10,242   |   |
| Other intangible assets, net of liabilities of $1,288                |   |   | 735      |   |
| Deferred income taxes                                                |   |   | 380      |   |
| Long-term debt and capital leases                                    |   |   | (147,005 | )      |
| Other net liabilities                                                |   |   | (4,536   | )      |
| Notes receivable                                                     |   |   | (1,529   | )      |
|    Net impact on Consolidated Balance Sheet           |   |   | 10,933   |   |
|                                                                 |   |   |     |   |
| Gain on settlement of preexisting contracts, net                     |   |   | (4,906   | )      |
| Gain on acquisitions                                                 |   |   | (1,770   | )      |
|    Net impact on Consolidated Statement of Operations |   |   | (6,676   | )      |
| Aggregate cash purchase prices                                       |   | $      | 4,257    |   |

----

|                                 |   | (Unaudited)  |   |
|--------------------------------------|--------|--------------|--------|
|                                 |   | May 31, 2011 |   |
|                                 |   |         |   |
| Total revenue                        |   | $            | 76,068 |   |
|                                 |   |         |   |   |
| Cost of merchandise                  |   |         | 22,349 |   |
| Payroll and related costs            |   |         | 25,535 |   |
| Other restaurant operating costs     |   |         | 16,499 |   |
| Depreciation                         |   |         | 3,432  |   |
| Selling, general, and administrative |   |         | 4,431  |   |
|                                 |   |         | 72,246 |   |
| Income before income taxes           |   | $            | 3,822  |   |

|                                   | (Unaudited) |
|----------------------------------------|-------------|
|                                   |        | May 31, 2011 |   | June 1, 2010 |
|   Total revenue              | $           | 1,375,469 | $ | 1,379,853 |
|   Net income                 | $           |      45,928 | $ |      45,352 |
|   Basic earnings per share   | $           |          0.72 | $ |          0.74 |
|   Diluted earnings per share | $           |          0.71 | $ |          0.73 |

| ·   | Elimination of the franchises’ historical intangible asset amortization expense (approximately $0.2 million for the year ended May 31, 2011, and $0.2 million for the year ended June 1, 2010). |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Elimination of RTI’s franchise revenue (approximately $0.5 million for the year ended May 31, 2011, and $1.7 million for the year ended June 1, 2010). |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Elimination of RTI’s support service fee income and marketing reimbursements (approximately $2.1 million for the year ended May 31, 2011, and $4.3 million for the year ended June 1, 2010). |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Elimination of RTI’s equity in losses of unconsolidated franchises (approximately $0.6 million for the year ended May 31, 2011, and $0.3 million for the year ended June 1, 2010). |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Elimination of RTI’s bad debt expense relating to notes receivable and lines of credit due from the acquired franchises (approximately $0.2 million for the year ended May 31, 2011, and $0.9 million for the year ended June 1, 2010). |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Additional amortization expense (approximately $0.8 million for the year ended May 31, 2011, and $1.5 million for the year ended June 1, 2010) related to reacquired franchise rights. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ·   | Additional depreciation expense (approximately $0.6 million for the year ended May 31, 2011, and $1.3 million for the year ended June 1, 2010) related to the fair value adjustments to property and equipment acquired. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Reduced interest expense (approximately $0.8 million for the year ended May 31, 2011, and $1.3 million for the year ended June 1, 2010) related to the fair value adjustments of acquired franchise debt. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Elimination of $0.2 million of costs incurred for the year ended May 31, 2011, which are directly attributable to the acquisitions, and which do not have a continuing impact on the combined company’s operating results.  Included in these costs are advisory and legal costs incurred by RTI. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                    |   | 2011   |   |   | 2010   |   |
|---------------------------------------------------------|--------|--------|--------|--------|--------|--------|
|                                                    |   |   |   |   |   |   |
| Rebates receivable                                      |   | $      | 1,055  |   |   | $      | 643 |   |
| Amounts due from franchisees                            |   |   | 2,506  |   |   |   | 5,439 |   |
| Other receivables                                       |   |   | 3,970  |   |   |   | 3,508 |   |
| Current portion of notes receivable                     |   |   | 41     |   |   |   | 4,603 |   |
|                                                    |   |   | 7,572  |   |   |   | 14,193 |   |
| Less allowances for doubtful notes and equity           |   |   |   |   |   |   |   |   |
|        method losses |   |   | 41     |   |   |   | 4,447 |   |
|                                                    |   | $      | 7,531  |   |   | $      | 9,746 |   |

----

|                                                                |   | 2011   |    |   | 2010   |   |
|---------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|
|                                                                |   |   |    |   |   |   |
| Notes receivable from domestic franchisees                          |   | $      | 41      |   |   | $      | 7,026 |   |
| Less current maturities (included in accounts and                   |   |   |    |   |   |   |   |   |
|        notes receivable)         |   |   | 41      |   |   |   | 4,603 |   |
|                                                                |   |   | – |   |   |   | 2,423 |   |
| Less allowances for doubtful notes and equity                       |   |   |    |   |   |   |   |   |
|        method losses, noncurrent |   |   | – |   |   |   | 2,154 |   |
| Total notes receivable, net -- noncurrent                      |   | $      | – |   |   | $      | 269 |   |

----

|   |                                | 2011                                         |   | 2010                                   |   |
|--------|-------------------------------------|----------------------------------------------|--------|----------------------------------------|--------|
|   | Land                                | $      256,761 |   | $     218,806      |   |
|   | Buildings                           | 512,177                                      |   | 461,159                                |   |
|   | Improvements                        | 427,169                                      |   | 399,874                                |   |
|   | Restaurant equipment                | 279,319                                      |   | 268,071                                |   |
|   | Other equipment                     | 93,944                                       |   | 90,411                                 |   |
|   | Construction in progress and other* | 28,077                                       |   | 27,898                                 |   |
|   |                                | 1,597,447                                    |   | 1,466,219                              |   |
|   | Less accumulated depreciation       | 566,296                                      |   | 522,733                                |   |
|   |                                | $  1,031,151                       |   | $     943,486 |   |

|                         |   |   |    |
|------------------------------|--------|--------|---------|
| 2012                         |   | $      | 44,368  |   |
| 2013                         |   |   | 41,515  |   |
| 2014                         |   |   | 37,386  |   |
| 2015                         |   |   | 33,750  |   |
| 2016                         |   |   | 29,896  |   |
| Subsequent years             |   |   | 176,608 |   |
| Total minimum lease payments |   | $      | 363,523 |   |

----

|                             |   | Franchisees |   |   | Others |   |    | Total  |   |
|----------------------------------|--------|-------------|--------|--------|--------|--------|---------|--------|--------|
| 2012                             |   | $           | 569    |   |   | $      | 259     |   |   | $ | 828 |   |
| 2013                             |   |        | 574    |   |   |   | 196     |   |   |   | 770 |   |
| 2014                             |   |        | 201    |   |   |   | 179     |   |   |   | 380 |   |
| 2015                             |   |        | 117    |   |   |   | 157     |   |   |   | 274 |   |
| 2016                             |   |        | 93     |   |   |   | 73      |   |   |   | 166 |   |
| Subsequent years                 |   |        | 265    |   |   |   | – |   |   |   | 265 |   |
| Total minimum sub-lease payments |   | $           | 1,819  |   |   | $      | 864     |   |   | $ | 2,683 |   |

|                   |   | 2011   |   |   | 2010   |   |   | 2009   |   |
|------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Minimum rent           |   | $      | 43,841 |   |   | $      | 43,474 |   |   | $ | 47,479 |   |
| Contingent rent        |   |   | 741    |   |   |   | 424    |   |   |   | 357 |   |
|                   |   |   | 44,582 |   |   |   | 43,898 |   |   |   | 47,836 |   |
| Sublease rental income |   |   | (1,217 | )      |   |   | (3,218 | )      |   |   | (3,752 | ) |
|                   |   | $      | 43,365 |   |   | $      | 40,680 |   |   | $ | 44,084 |   |

|                                   |   | 2011   |    |   | 2010   |   |
|----------------------------------------|--------|--------|---------|--------|--------|--------|
| Revolving credit facility              |   | $      | 177,000 |   |   | $      | 203,800 |   |
| Series B senior notes:                 |   |   |    |   |   |   |   |   |
|     due April 2013 |   |   | 44,442  |   |   |   | 48,442 |   |
| Mortgage loan obligations              |   |   | 122,546 |   |   |   | 36,834 |   |
| Capital lease obligations              |   |   | 286     |   |   |   | 190 |   |
|                                   |   |   | 344,274 |   |   |   | 289,266 |   |
| Less current maturities                |   |   | 15,090  |   |   |   | 12,776 |   |
|                                   |   | $      | 329,184 |   |   | $      | 276,490 |   |

| 2012             |   | $      | 15,090  |   |
|------------------|--------|--------|---------|--------|
| 2013             |   |   | 60,694  |   |
| 2014             |   |   | 13,277  |   |
| 2015             |   |   | 11,539  |   |
| 2016             |   |   | 195,828 |   |
| Subsequent years |   |   | 47,846  |   |
|             |   | $      | 344,274 |   |

----

----

|                                                               |   | 2011   |    |   | 2010   |   |    | 2009   |   |
|--------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|
|  Impairments for:                                             |   |   |    |   |   |   |    |   |   |
|   Restaurants closed during current fiscal year          |   | $      | 12      |   |   | $      | – |   |   | $ | 18,319 |   |
|   Open restaurants                                       |   |   | 4,498   |   |   |   | 2,240   |   |   |   | 12,138 |   |
|   Surplus properties                                     |   |   | 1,588   |   |   |   | 941     |   |   |   | 8,954 |   |
|   Company airplane                                       |   |   | – |   |   |   | – |   |   |   | 1,231 |   |
|   Other                                                  |   |   | – |   |   |   | – |   |   |   | 501 |   |
|                                                               |   |   | 6,098   |   |   |   | 3,181   |   |   |   | 41,143 |   |
|   Dead site costs                                        |   |   | 120     |   |   |   | 258     |   |   |   | 2,159 |   |
|   Closing expense including rent and other lease charges |   |   | (333    | )      |   |   | 756     |   |   |   | 10,254 |   |
|   Other closing expense                                  |   |   | 317     |   |   |   | 601     |   |   |   | 2,113 |   |
|   Loss/(gain) on sale of surplus properties              |   |   | 47      |   |   |   | (1,020  | )      |   |   | (718 | ) |
|                                                               |   | $      | 6,249   |   |   | $      | 3,776   |   |   | $ | 54,951 |   |

|                                                                           |   | 2011   |   |    | 2010   |   |
|--------------------------------------------------------------------------------|--------|--------|--------|---------|--------|--------|
|   Beginning of year                                                  |   | $      | 4,969  |    |   | $      | 11,128 |   |
|     Lease obligation assumed with franchise acquisitions   |   |   | 396    |    |   |   | – |   |
|     Closing expense including rent and other lease charges |   |   | (333   | )  |   |   | 756 |   |
|     Payments                                               |   |   | (2,372 | )  |   |   | (6,915 | ) |
|   End of year                                                        |   | $      | 2,660  |    |   | $      | 4,969 |   |

----

|                      | TargetAllocation | 2011 Allocation | 2010Allocation  |
|---------------------------|------------------|-----------------|-----------------|
| Equity securities         | 60-80%           |   71% |   67% |
| Fixed income securities   | 20-40%           |   28% |   30% |
| Cash and cash equivalents | 0%               |   1%  |   3%  |
|                      |             |            |            |
| Total                     | 100%             | 100%            | 100%            |

----

|                                            |   | Fair Value Measurements |   |
|-------------------------------------------------|--------|-------------------------|--------|
|                                            |   | Total Fair Value        |   |   | Quoted Prices in Active Markets for Identical Assets(Level 1) |   |   | Significant Other Observable Inputs (Level 2) |   |   | Significant Unobservable Inputs(Level 3) |   |
| Cash and cash equivalents                       |   | $                       | 84     |   |   | $ | – |   |   | $ | 84 |   |   | $ | – |   |
| Equity securities                               |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    U.S.-based companies          |   |                    | 4,257  |   |   |   | 4,257 |   |   |   | – |   |   |   | – |   |
|    International-based companies |   |                    | 447    |   |   |   | 447 |   |   |   | – |   |   |   | – |   |
| Fixed income securities                         |   |                    | 1,889  |   |   |   | 1,889 |   |   |   |   |   |   |   |   |   |
|    Total                         |   | $                       | 6,677  |   |   | $ | 6,593 |   |   | $ | 84 |   |   | $ | – |   |

----

|                                   |   | Pension Benefits                         |   |
|----------------------------------------|--------|------------------------------------------|--------|
|                                   |   | 2011                                     |   |   | 2010 |   |   | 2009 |   |
|                                   |   |                                     |   |   |   |   |   |   |
| Service cost                           |   | $                                        | 517    |   |   | $ | 450 |   |   | $ | 410 |   |
| Interest cost                          |   |                                     | 2,290  |   |   |   | 2,490 |   |   |   | 2,412 |   |
| Expected return on plan assets         |   |                                     | (392   | ) |   |   | (422 | ) |   |   | (673 | ) |
| Amortization of prior service cost (a) |   |                                     | 327    |   |   |   | 327 |   |   |   | 327 |   |
| Recognized actuarial loss              |   |                                     | 1,593  |   |   |   | 1,385 |   |   |   | 967 |   |
| Net periodic benefit cost              |   | $                                        | 4,335  |   |   | $ | 4,230 |   |   | $ | 3,443 |   |
|                                   |   |                                     |   |
|                                   |   | Postretirement Medical and Life Benefits |   |
|                                   |   | 2011                                     |   |   |   | 2010 |   |   |   | 2009 |   |
|                                   |   |                                     |   |   |   |   |   |   |   |   |   |   |
| Service cost                           |   | $                                        | 9      |   |   | $ | 10 |   |   | $ | 9 |   |
| Interest cost                          |   |                                     | 75     |   |   |   | 85 |   |   |   | 86 |   |
| Amortization of prior service cost (a) |   |                                     | (60    | ) |   |   | (64 | ) |   |   | (64 | ) |
| Recognized actuarial loss              |   |                                     | 112    |   |   |   | 102 |   |   |   | 105 |   |
| Net periodic benefit cost              |   | $                                        | 136    |   |   | $ | 133 |   |   | $ | 136 |   |

|                                    |   | Pension Benefits |   |   | Postretirement Medicaland Life Benefits |
|-----------------------------------------|--------|------------------|--------|--------|-----------------------------------------|
|                                    |   | 2011             |   |   | 2010                                    |   |   | 2011 |   |   | 2010 |   |
| Prior service cost                      |   | $                | 0      |   |                                    | $ | 0 |   |   | $ | 0 |   |   | $ | 0 |   |
| Net actuarial loss                      |   |             | 1,502  |   |                                    |   | 3,648 |   |   |   | 264 |   |   |   | 191 |   |
| Amortization of prior service cost      |   |             | (327   | )      |                                    |   | (327 | )  |   |   | 60 |   |   |   | 64 |   |
| Amortization of actuarial gain          |   |             | (1,593 | )      |                                    |   | (1,385 | )  |   |   | (112 | ) |   |   | (102 | )  |
| Total recognized in accumulated         |   |             |   |   |                                    |   |   |   |   |   |   |   |   |   |   |   |
|    other comprehensive income |   | $                | (418   | )      |                                    | $ | 1,936 |   |   | $ | 212 |   |   | $ | 153 |   |
|                                    |   |             |   |   |                                    |   |   |   |   |   |   |   |   |   |   |   |

| Total recognized in net periodic               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|    benefit cost and accumulated |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    other comprehensive income        |   | $      | 3,917  |   |   | $      | 6,166  |   |   | $      | 348    |   |   | $      | 286    |   |

----

|                                   |  Pension Benefits | Postretirement Medicaland Life Benefits |
|----------------------------------------|------------------------|-----------------------------------------|
|                                   |                   | 2011                                    |   |   | 2010 |   |   | 2011 |   |   | 2010 |   |
| Change in benefit obligation:          |                   |                                    |   |   |   |   |   |   |   |   |   |   |
| Beginning projected benefit obligation | $                      | 42,602                                  |   | $ | 40,314 |   | $ | 1,423 |   | $ | 1,368 |   |
| Service cost                           |                   | 517                                     |   |   | 450 |   |   | 9 |   |   | 10 |   |
| Interest cost                          |                   | 2,290                                   |   |   | 2,490 |   |   | 75 |   |   | 85 |   |
| Actuarial loss                         |                   | 2,577                                   |   |   | 3,836 |   |   | 264 |   |   | 191 |   |
| Benefits paid                          |                   | (2,350                                  | ) |   | (4,488 | ) |   | (365 | ) |   | (231 | ) |
| Benefit obligation at end of year      | $                      | 45,636                                  |   | $ | 42,602 |   | $ | 1,406 |   | $ | 1,423 |   |
|                                   |                   |                                    |   |   |   |   |   |   |   |   |   |   |
| Change in plan assets:                 |                   |                                    |   |   |   |   |   |   |   |   |   |   |
| Beginning fair value of plan assets    | $                      | 5,929                                   |   | $ | 5,780 |   | $ | 0 |   | $ | 0 |   |
| Actual return on plan assets           |                   | 1,467                                   |   |   | 603 |   |   |   |   |   |   |   |
| Employer contributions                 |                   | 1,438                                   |   |   | 4,034 |   |   | 365 |   |   | 231 |   |
| Benefits paid (1)                      |                   | (2,350                                  | ) |   | (4,488 | ) |   | (365 | ) |   | (231 | ) |
| Other                             |                   | 193                                |   |   |   |   |   |   |   |   |   |   |
| Fair value of plan assets at           |                   |                                    |   |   |   |   |   |   |   |   |   |   |
|    end of year               | $                      | 6,677                                   |   | $ | 5,929 |   | $ | 0 |   | $ | 0 |   |
|                                   |                   |                                    |   |   |   |   |   |   |   |   |   |   |

| (1) Benefits paid during fiscal 2010 include lump-sum payouts of accrued benefits to an executive who               |
|---------------------------------------------------------------------------------------------------------------------|
| retired under the provisions of the Executive Supplemental Pension Plan during January 2009.  Fiscal 2010 |
| benefits paid to this executive totaled $1.8 million.                                                               |

|                                                   |   |    |   |   |    |   |   |   |   |   |   |   |
|--------------------------------------------------------|--------|---------|--------|--------|---------|--------|--------|--------|--------|--------|--------|--------|
| Funded status at end of year                           | $      | (38,959 | )*     | $      | (36,673 | )*     | $      | (1,406 | )      | $      | (1,423 | )      |
|                                                   |   |    |   |   |    |   |   |   |   |   |   |   |
| Amounts recognized in the Consolidated Balance Sheets: |   |    |   |   |    |   |   |   |   |   |   |   |
| Accrued liabilities – payroll and related        |   |    |   |   |    |   |   |   |   |   |   |   |
|    costs                                | $      | (9,844  | )      | $      | (9,592  | )      | $      | (123   | )      | $      | (129   | )      |
| Other deferred liabilities                             |   | (29,115 | )      |   | (27,081 | )      |   | (1,283 | )      |   | (1,294 | )      |
| Net amount recognized at year-end                      | $      | (38,959 | )      | $      | (36,673 | )      | $      | (1,406 | )      | $      | (1,423 | )      |

| Amounts recognized in accumulated other comprehensive income/(loss): |   |    |   |   |    |   |   |   |   |   |   |   |
|----------------------------------------------------------------------|--------|---------|--------|--------|---------|--------|--------|--------|--------|--------|--------|--------|
| Prior service (cost) credit                                          | $      | (370    | )      | $      | (698    | )      | $      | 157    |   | $      | 217    |   |
| Net actuarial loss                                                   |   | (20,042 | )      |   | (20,132 | )      |   | (1,387 | )      |   | (1,236 | )      |
| Total amount recognized                                              | $      | (20,412 | )      | $      | (20,830 | )      | $      | (1,230 | )      | $      | (1,019 | )      |

| * | The funded status reflected above includes the liabilities attributable to all of the Pension Plans but only the assets of the Retirement Plan as the other plans are not considered funded for ERISA purposes. To provide a source for the payment of benefits under the Executive Supplemental Pension Plan and the Management Retirement Plan, we own whole-life insurance contracts on some of the participants. The cash value of these policies was $27.2 million and $25.2 million at May 31, 2011 and June 1, 2010, respectively.  In addition, we held in trust $0.9 million and $2.4 million of cash and cash equivalents as of May 31, 2011 and June 1, 2010, respectively, relating to these policies.  We maintain a rabbi trust to hold the policies and death benefits as they are received. |
|---|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                         |   | Pension Benefits |   |   | Postretirement Medicaland Life Benefits |   |
|------------------------------|--------|------------------|--------|--------|-----------------------------------------|--------|
|                         |   | May 31, 2011     |   |   | June 1, 2010                            |   |   | May 31, 2011 |   |   | June 1, 2010 |   |
| Projected benefit obligation |   | $                | 45,636 |   |                                    | $      | 42,602 |   |   | $ | 1,406 |   |   | $ | 1,423 |   |
| Accumulated benefit          |   |             |   |   |                                    |   |   |   |   |   |   |   |   |   |   |   |
|    obligation |   |             | 44,064 |   |                                    |   | 41,233 |   |   |   | 1,406 |   |   |   | 1,423 |   |
| Fair value of plan assets    |   |             | 6,677  |   |                                    |   | 5,929 |   |   |   | 0 |   |   |   | 0 |   |

|                           | Pension Benefits                         |
|--------------------------------|------------------------------------------|
|                           | 2011                                     | 2010 | 2009 |
| Discount rate                  | 5.5%                                     | 6.5% | 6.4% |
| Expected return on plan assets | 7.0%                                     | 8.0% | 8.0% |
| Rate of compensation increase  | 2.0%                                     | 3.1% | 3.6% |
|                           |                                     |   |   |
|                           | Postretirement Medical and Life Benefits |
|                           | 2011                                     | 2010 | 2009 |
| Discount rate                  | 5.5%                                     | 6.5% | 6.4% |
| Rate of compensation increase  | 2.0%                                     | 3.0% | 3.5% |

|                          | Pension Benefits                         |
|-------------------------------|------------------------------------------|
|                          | 2011                                     | 2010 |
| Discount rate                 | 5.3%                                     | 5.5% |
| Rate of compensation increase | 2.0%                                     | 2.0% |
|                          |                                     |   |
|                          | Postretirement Medical and Life Benefits |
|                          | 2011                                     | 2010 |
| Discount rate                 | 5.3%                                     | 5.5% |
| Rate of compensation increase | 2.0%                                     | 2.0% |

----

|       |  Pension Benefits | Postretirement Medicaland Life Benefits |
|------------|------------------------|-----------------------------------------|
| 2012  |  $                |    10,845 (1)            |  $ | 123 |
| 2013       |                   | 3,161                                   |   | 126 |
| 2014       |                   | 3,011                                   |   | 124 |
| 2015       |                   | 2,346                                   |   | 118 |
| 2016       |                   | 2,415                                   |   | 123 |
| 2017-2021  |                   | 17,716                             |   | 590 |

----

|      |   | 2011   |   |   | 2010   |   |   | 2009   |   |
|-----------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Current:  |   |   |   |   |   |   |   |   |   |
| Federal   |   | $      | 5,378  |   |   | $      | (6,387 | )      |   | $ | (9,134 | ) |
| State     |   |   | 1,720  |   |   |   | (822   | )      |   |   | 300 |   |
| Foreign   |   |   | 132    |   |   |   | 107    |   |   |   | 201 |   |
|      |   |   | 7,230  |   |   |   | (7,102 | )      |   |   | (8,633 | ) |
| Deferred: |   |   |   |   |   |   |   |   |   |   |   |   |
| Federal   |   |   | (2,218 | )      |   |   | 16,900 |   |   |   | (10,499 | ) |
| State     |   |   | 732    |   |   |   | 2,616  |   |   |   | (5,816 | ) |
|      |   |   | (1,486 | )      |   |   | 19,516 |   |   |   | (16,315 | ) |
|      |   | $      | 5,744  |   |   | $      | 12,414 |   |   | $ | (24,948 | ) |

|                                                      |   |                   |     |   |                   |   |
|-----------------------------------------------------------|--------|------------------------|----------|--------|------------------------|--------|
|                                                      |   |    2011 |     |   |    2010 |   |
| Deferred tax assets:                                      |   |                   |     |   |                   |   |
|    Employee benefits                       |   | $                      | 26,857   |   |                   | $      | 29,516 |   |
|    Escalating minimum rents                |   |                   | 18,151   |   |                   |   | 17,242 |   |
|    General business credits carryforward   |   |                   | 10,957   |   |                   |   | 7,976 |   |
|    State net operating losses              |   |                   | 6,822    |   |                   |   | 5,996 |   |
|    Insurance reserves                      |   |                   | 5,886    |   |                   |   | 4,809 |   |
|    Gift certificate income                 |   |                   | 1,684    |   |                   |   | 1,403 |   |
|    Goodwill                                |   |                   | 1,664    |   |                   |   | 1,904 |   |
|    Closed restaurant lease reserves        |   |                   | 794      |   |                   |   | 1,711 |   |
|    Unearned income                         |   |                   | 621      |   |                   |   | 1,633 |   |
|    Other                                   |   |                   | 6,740    |   |                   |   | 4,174 |   |
| Gross deferred tax assets                                 |   |                   | 80,176   |   |                   |   | 76,364 |   |
|    Deferred tax asset valuation allowances |   |                   | (1,501   | )      |                   |   | – |   |
| Net deferred tax assets                                   |   | $                      | 78,675   |   |                   | $      | 76,364 |   |
|                                                      |   |                   |     |   |                   |   |   |   |
| Deferred tax liabilities:                                 |   |                   |     |   |                   |   |   |   |
|    Depreciation                            |   |                   | (94,005  | )      |                   |   | (89,542 | ) |
|    Partnership investments                 |   |                   | (3,328   | )      |                   |   | (5,156 | ) |
|    Smallwares                              |   |                   | (2,698   | )      |                   |   | (2,340 | ) |
|    Prepaid deductions                      |   |                   | (2,323   | )      |                   |   | (1,864 | ) |
|    Other                                   |   |                   | (4,815   | )      |                   |   | (3,678 | ) |
| Total deferred tax liabilities                            |   |                   | (107,169 | )      |                   |   | (102,580 | ) |
| Net deferred tax liability                                |   | $                      | (28,494  | )      |                   | $      | (26,216 | ) |
|                                                      |   |                   |     |   |                   |   |   |   |

| Reported in Consolidated Balance Sheets as:                                |   |   |    |   |   |   |
|----------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|
|     Deferred income taxes – current asset        |   | $      | 14,429  |   |   | $      | 13,794 |   |
|     Deferred income taxes – noncurrent liability |   |   | (42,923 | )      |   |   | (40,010 | ) |
|                                                                       |   | $      | (28,494 | )      |   | $      | (26,216 | ) |

----

|                                                                   |   | 2011   |    |   | 2010   |   |    | 2009   |   |
|------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|
|                                                                   |   |   |    |   |   |   |    |   |   |
| Statutory federal income taxes                                         |   | $      | 18,418  |   |   | $      | 20,215  |   |   | $ | (15,003 | ) |
| State income taxes, net of federal income   tax benefit |   |   | 228     |   |   |   | 955     |   |   |   | (3,586 | ) |
| FICA tip credit                                                        |   |   | (8,264  | )      |   |   | (7,735  | )      |   |   | (6,321 | ) |
| Work opportunity tax credit                                            |   |   | (2,624  | )      |   |   | (1,352  | )      |   |   | (1,443 | ) |
| Other federal tax credits                                              |   |   | (197    | )      |   |   | (179    | )      |   |   | (241 | ) |
| Goodwill impairment                                                    |   |   | – |   |   |   | – |   |   |   | 2,571 |   |
| Other, net                                                             |   |   | (1,817  | )      |   |   | 510     |   |   |   | (925 | ) |
|                                                                   |   | $      | 5,744   |   |   | $      | 12,414  |   |   | $ | (24,948 | ) |

|                                                                 |   | 2011   |    |   | 2010   |   |
|----------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|
| Beginning of year                                                    |   | $      | 3,415   |   |   | $      | 4,505 |   |
|   Additions for tax positions related to the current year  |   |   | 624     |   |   |   | 666 |   |
|   Reductions for tax positions related to the current year |   |   | – |   |   |   | (98 | ) |
|   Additions for tax positions of prior years               |   |   | 1,668   |   |   |   | 107 |   |
|   Reductions for tax positions of prior years              |   |   | (60     | )      |   |   | (366 | ) |
|   Reductions for settlements with taxing authorities       |   |   | – |   |   |   | (459 | ) |
|   Reductions due to statute settlements                    |   |   | (476    | )      |   |   | (940 | ) |
| End of year                                                          |   | $      | 5,171   |   |   | $      | 3,415 |   |

----

----

|                    |    Options | WeightedAverageExercisePrice |  Weighted Average Remaining Contractual Term (years) |   Aggregate Intrinsic Value |
|-------------------------|---------------------------|------------------------------|-----------------------------------------------------------|---------------------------------------|
| Balance at June 3, 2008 | 6,835                     |                         | $                                                         | 25.36                                 |   |   |
| Granted                 | 282                       |                         |                                                      | 6.50                                  |   |   |
| Exercised               | –                   |                         |                                                      | –                               |   |   |
| Forfeited               | (2,315                    | )                            |                                                      | 27.84                                 |   |   |
|                    |                      |                         |                                                      |                                  |   |   |
| Balance at June 2, 2009 | 4,802                     |                         | $                                                         | 23.06                                 |   |   |
| Granted                 | 622                       |                         |                                                      | 6.58                                  |   |   |
| Exercised               | –                   |                         |                                                      | –                               |   |   |
| Forfeited               | (1,378                    | )                            |                                                      | 25.46                                 |   |   |
|                    |                      |                         |                                                      |                                  |   |   |
| Balance at June 1, 2010 | 4,046                     |                         | $                                                         | 19.70                                 |   |   |
| Granted                 | 927                       |                         |                                                      | 9.39                                  |   |   |
| Exercised               | (249                      | )                            |                                                      | 7.64                                  |   |   |
| Forfeited               | (1,485                    | )                            |                                                      | 29.70                                 |   |   |
| Balance at May 31, 2011 | 3,239                     |                         | $                                                         | 13.10                                 | 3.45 | $ 6,096 |
|                    |                      |                         |                                                      |                                  |   |   |
| Exercisable             | 1,900                     |                         | $                                                         | 16.33                                 | 1.78 | $ 3,314 |

----

|                            | 2011   | 2010   | 2009   |
|---------------------------------|--------|--------|--------|
|                            |   |   |   |
| Risk-free interest rate         | 1.52%  | 2.20%  | 2.83%  |
| Expected dividend yield         | 0%     | 0%     | 0%     |
| Expected stock price volatility | 0.7336 | 0.6945 | 0.404  |
| Expected life (in years)        | 4.50   | 4.50   | 3.97   |

|                            |               | 2011                      |               | 2010                                                                      | 2009         |
|---------------------------------|--------------------|---------------------------|--------------------|---------------------------------------------------------------------------|--------------|
|                            |   Shares | WeightedAverageFair Value |   Shares | WeightedAverageFair Value                                                 |  Shares | WeightedAverageFair Value |
| Performance-Based Vesting:      |               |                      |               |                                                                      |         |   |   |   |   |   |
| Non-vested at beginning of year | 721                |                      | $                  | 7.13                    | 1,195        | $ | 7.64 | 1,285 | $ | 12.06 |
| Granted                         | –            |                      |               | –            | 348          |   | 6.58 | 279 |   | 7.00 |
| Vested                          | (421               | )                         |               | 7.05                    | (186)        |   | 7.64 | – |   | – |
| Forfeited                       | (1                 | )                         |               | 7.82                    | (636)        |   | 7.64 | (369) |   | 22.50 |
| Non-vested at end of year       | 299                |                      | $                  | 7.24                    | 721          | $ | 7.13 | 1,195 | $ | 7.64 |
|                            |               |                      |               |                                                                      |         |   |   |   |   |   |
| Service-Based Vesting:          |               |                      |               |                                                                      |         |   |   |   |   |   |
| Non-vested at beginning of year | 427                |                      | $                  | 7.42                    | 208          | $ | 8.97 | 105 | $ | 15.67 |
| Granted                         | 235                |                      |               | 10.21                   | 299          |   | 7.01 | 127 |   | 5.41 |
| Vested                          | (111               | )                         |               | 9.39                    | (78)         |   | 9.99 | (21) |   | 20.67 |
| Forfeited                       | –            |                      |               | –            | (2)          |   | 7.63 | (3) |   | 7.81 |
| Non-vested at end of year       | 551                |                      | $                  | 8.22                    | 427          | $ | 7.42 | 208 | $ | 8.97 |

----

----

----

----

|                                           |   | Level  |   |   | May 31, 2011 |   |    | June 1, 2010 |   |
|------------------------------------------------|--------|--------|--------|--------|--------------|--------|---------|--------------|--------|
| Deferred compensation plan – Assets      |   |   | 1      |   |         | $      | 8,792   |         |   | $ | 7,684 |   |
| Deferred compensation plan – Liabilities |   |   | 1      |   |         |   | (8,792  | )            |   |   | (7,684 | ) |
|    Total                        |   |   |   |   |         | $      | – |         |   | $ | – |   |

|                              | Fair Value Measurements |   |
|-----------------------------------|-------------------------|--------|
|                              | May 31, 2011            |   | Level 1 |   | Level 2 |   | Level 3 |   | Losses |   |
| Long-lived assets held for sale * |                    | $      | 24,686 |   |   | $ | – |   |   | $ | 24,686 |   |   | $ | – |   |   | $ | 1,600 |   |
| Long-lived assets held for use    |                    |   | 747 |   |   |   | – |   |   |   | 747 |   |   |   | – |   |   |   | 4,498 |   |
|    Total           |                    | $      | 25,433 |   |   | $ | – |   |   | $ | 25,433 |   |   | $ | – |   |   | $ | 6,098 |   |

|                              | Fair Value Measurements |   |
|-----------------------------------|-------------------------|--------|
|                              | June 1, 2010            |   | Level 1 |   | Level 2 |   | Level 3 |   | Losses |   |
| Long-lived assets held for sale * |                    | $      | 28,015 |   |   | $ | – |   |   | $ | 28,015 |   |   | $ | – |   |   | $ | 941 |   |
| Long-lived assets held for use    |                    |   | 3,685 |   |   |   | – |   |   |   | 3,685 |   |   |   | – |   |   |   | 2,240 |   |
|    Total           |                    | $      | 31,700 |   |   | $ | – |   |   | $ | 31,700 |   |   | $ | – |   |   | $ | 3,181 |   |

----

|                                       |   | May 31, 2011   |    |   | June 1, 2010 |   |
|--------------------------------------------|--------|----------------|---------|--------|--------------|--------|
|                                       |   | CarryingAmount |    |   | Fair Value   |   |   | CarryingAmount |   |   | FairValue |   |
| Deferred Compensation Plan                 |   |           |    |   |         |   |   |   |   |   |   |   |
|   investment in RTI common stock |   | $              | 1,556   |   |         | $      | 1,653 |   |   | $ | 2,036 |   |   | $ | 1,760 |   |
| Notes receivable, gross*                   |   |           | 41      |   |         |   | 55 |   |   |   | 7,026 |   |   |   | 7,016 |   |
| Long-term debt and capital leases          |   |           | 344,274 |   |         |   | 348,272 |   |   |   | 289,266 |   |   |   | 291,512 |   |
| Franchise partnership guarantees           |   |           | – |   |         |   | – |   |   |   | 791 |   |   |   | 817 |   |
| Letters of credit                          |   |           | – |   |         |   | 178 |   |   |   | – |   |   |   | 329 |   |

|                                 |   | For the Year Ended May 31, 2011 |    |
|--------------------------------------|--------|---------------------------------|---------|
|                                 |   | FirstQuarter                    |    |   | SecondQuarter |   |   | ThirdQuarter |   |   | FourthQuarter |   |   | Total |   |
|                                 |   |                            |    |   |   |   |   |   |   |   |   |   |   |   |   |
| Revenues                             |   | $                               | 302,686 |   |   | $ | 290,451 |   |   | $ | 319,063 |   |   | $ | 352,962 |   |   | $ | 1,265,162 |   |
| Gross profit*                        |   | $                               | 57,741  |   |   | $ | 45,001 |   |   | $ | 54,367 |   |   | $ | 63,538 |   |   | $ | 220,647 |   |
| Income before income taxes           |   | $                               | 16,077  |   |   | $ | 5,268 |   |   | $ | 15,545 |   |   | $ | 15,732 |   |   | $ | 52,622 |   |
| Provision/(benefit) for income taxes |   |                            | 3,680   |   |   |   | 703 |   |   |   | (455 | ) |   |   | 1,816 |   |   |   | 5,744 |   |
| Net income                           |   | $                               | 12,397  |   |   | $ | 4,565 |   |   | $ | 16,000 |   |   | $ | 13,916 |   |   | $ | 46,878 |   |
|                                 |   |                            |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings per share:                  |   |                            |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     Basic        |   | $                               | 0.19    |   |   | $ | 0.07 |   |   | $ | 0.25 |   |   | $ | 0.22 |   |   | $ | 0.73 |   |
|     Diluted      |   | $                               | 0.19    |   |   | $ | 0.07 |   |   | $ | 0.25 |   |   | $ | 0.21 |   |   | $ | 0.72 |   |

----

|                            |   | For the Year Ended June 1, 2010 |    |
|---------------------------------|--------|---------------------------------|---------|
|                            |   | FirstQuarter                    |    |   | SecondQuarter |   |   | ThirdQuarter |   |   | FourthQuarter |   |   | Total |   |
|                            |   |                            |    |   |   |   |   |   |   |   |   |   |   |   |   |
| Revenues                        |   | $                               | 300,612 |   |   | $ | 273,464 |   |   | $ | 307,265 |   |   | $ | 313,455 |   |   | $ | 1,194,796 |   |
| Gross profit*                   |   | $                               | 48,949  |   |   | $ | 38,802 |   |   | $ | 61,149 |   |   | $ | 63,610 |   |   | $ | 212,510 |   |
| Income before income taxes      |   | $                               | 7,442   |   |   | $ | 820 |   |   | $ | 22,272 |   |   | $ | 27,224 |   |   | $ | 57,758 |   |
| Provision for income taxes      |   |                            | 1,298   |   |   |   | 389 |   |   |   | 4,473 |   |   |   | 6,254 |   |   |   | 12,414 |   |
| Net income                      |   | $                               | 6,144   |   |   | $ | 431 |   |   | $ | 17,799 |   |   | $ | 20,970 |   |   | $ | 45,344 |   |
|                            |   |                            |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings per share:             |   |                            |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     Basic** |   | $                               | 0.11    |   |   | $ | 0.01 |   |   | $ | 0.28 |   |   | $ | 0.33 |   |   | $ | 0.74 |   |
|     Diluted |   | $                               | 0.11    |   |   | $ | 0.01 |   |   | $ | 0.28 |   |   | $ | 0.33 |   |   | $ | 0.73 |   |

----

Report of Independent Registered Public Accounting Firm

----

----

Item 9. Changes in and Disagreements With Accountants on

Item 9A. Controls and Procedures

Item 9B. Other Information

----

Item 10. Directors, Executive Officers and Corporate Governance

Item 11. Executive Compensation

Item 12. Security Ownership of Certain Beneficial Owners

Item 13. Certain Relationships and Related Transactions, and Director Independence

Item 14. Principal Accounting Fees and Services

----

Item 15. Exhibits and Financial Statement Schedule

|                           |                     |   | Charged/                                 |   | Charged/                              |   |                                      |   |                                                |   |
|--------------------------------|--------------------------|--------|------------------------------------------|--------|---------------------------------------|--------|-------------------------------------------|--------|-----------------------------------------------------|--------|
|                           | Balance at               |   | (Credited)                               |   | (Credited)                            |   |                                      |   |                                                |   |
|                           | Beginning                |   | to Costs                                 |   | to other                              |   |                                      |   | Balance at                                          |   |
| Description                    | of Period                |   | and Expenses                             |   | Accounts                              |   | Write-offs                                |   | End of Period                                       |   |
|                           |                     |   |                                     |   | (a)                                   |   | (b)                                       |   |                                                |   |
| Allowance for Doubtful Notes   |                     |   |                                     |   |                                  |   |                                      |   |                                                |   |
|                           |                     |   |                                     |   |                                  |   |                                      |   |                                                |   |
| Fiscal Year Ended June 1, 2011 | $   5,077 |   | $      570 |   | $     (4,811 | )      | $      (795 | )      | $        41 |   |
|                           |                     |   |                                     |   |                                  |   |                                      |   |                                                |   |
| Fiscal Year Ended June 1, 2010 |    6,052  |   |    1,730                  |   |                                  |   |    (2,705                  | )      |    5,077                             |   |
|                           |                     |   |                                     |   |                                  |   |                                      |   |                                                |   |
| Fiscal Year Ended June 2, 2009 |    3,027  |   |     3,690            |   |                                  |   |       (665  | )      |   6,052                                   |   |

| (a)   | As further discussed in Note 3 to the Consolidated Financial Statements, in fiscal 2011 the Company acquired the remaining membership interests of 11 franchise partnerships.  The $4.8 million combined allowance for doubtful notes as well as the corresponding notes receivable from the acquired franchise partnerships were eliminated as part of the purchase price allocation. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | In fiscal 2011, the Company forgave various debts owed by its Seattle and Utah franchises. |
|-----------------|--------------------------------------------------------------------------------------------|

|   |      |
|--------|--------------------------|

----

SIGNATURES

|                       Name  | Position                                                                             | Date                 |
|------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------|----------------------|
| /s/ Samuel E. Beall, IIISamuel E. Beall, III                                                                                                   | Chairman of the Board, President and Chief Executive Officer                         | Date: August 1, 2011 |
|                                                                                                                                           |                                                                                 |                 |
| /s/ Marguerite N. DuffyMarguerite N. Duffy                                                                                                     | Senior Vice President,Chief Financial Officer, and Principal Accounting Officer | Date: August 1, 2011 |
|                                                                                                                                           |                                                                                 |                 |
| /s/ Claire L. ArnoldClaire L. Arnold                                                                                                           | Director                                                                             | Date: August 1, 2011 |
|                                                                                                                                           |                                                                                 |                 |
| /s/ Steven R. BeckerSteven R. Becker                                                                                                           | Director                                                                             | Date: August 1, 2011 |
|                                                                                                                                           |                                                                                 |                 |
| /s/ Kevin T. ClaytonKevin T. Clayton                                                                                                           | Director                                                                             | Date: August 1, 2011 |
|                                                                                                                                           |                                                                                 |                 |
| /s/ Matthew A. DrapkinMatthew A. Drapkin                                                                                                       | Director                                                                             | Date: August 1, 2011 |
|                                                                                                                                           |                                                                                 |                 |
| /s/ James A. Haslam, IIIJames A. Haslam, III                                                                                                   | Director                                                                             | Date: August 1, 2011 |
|                                                                                                                                           |                                                                                 |                 |
| /s/ Bernard Lanigan Jr.Bernard Lanigan Jr.                                                                                                     | Director                                                                             | Date: August 1, 2011 |
|                                                                                                                                           |                                                                                 |                 |
| /s/ Dr. Donald RatajczakDr. Donald Ratajczak                                                                                                   | Director                                                                             | Date: August 1, 2011 |
|                                                                                                                                           |                                                                                 |                 |
| /s/ Stephen I. SadoveStephen I. Sadove                                                                                                         | Director                                                                             | Date: August 1, 2011 |
|                                                                                                                                           |                                                                                 |                 |

----

| ExhibitNumber |   |                                                    Description of Exhibit                                                                                                                                                                      |
|---------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| *             |   | Management contract or compensatory plan or arrangement.                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| +             |   | Filed herewith.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 3.1           |   | Articles of Incorporation, as amended, of Ruby Tuesday, Inc. (incorporated by reference from Exhibit 3.1 to Form 8-B filed on March 15, 1996 (File No. 1-12454)).                                                                                                                                                                                                                                                                                                                                             |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 3.2           |   | Bylaws, as amended and restated, of Ruby Tuesday, Inc. (incorporated by reference from Exhibit 3.1 to Form 8-K filed on October 8, 2009 (File No. 1-12454)).                                                                                                                                                                                                                                                                                                                                                  |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 4.1           |   | Specimen Common Stock Certificate. (incorporated by reference from Exhibit 4.1 to Form 8-B filed on March 15, 1996 (File No. 1-12454)).                                                                                                                                                                                                                                                                                                                                                                       |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.1          |   | Ruby Tuesday, Inc. Executive Supplemental Pension Plan, amended and restated as of January 1, 2007. (incorporated by reference from Exhibit 10.1 to the Ruby Tuesday, Inc. Annual Report on Form 10-K for the fiscal year ended June 5, 2007 (File No. 1-12454)).*                                                                                                                                                                                                                                            |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.2     |   | First Amendment, dated as of April 2, 2008, to the Ruby Tuesday, Inc. Executive Supplemental Pension Plan (Amended and Restated as of January 1, 2007) (incorporated by reference from Exhibit 10.6 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended March 4, 2008 (File No. 1-12454)).*                                                                                                                                                                                         |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.3          |   | Second Amendment, dated as of December 31, 2008, to the Ruby Tuesday, Inc. Executive Supplemental Pension Plan (Amended and Restated as of January 1, 2007) (incorporated by reference from Exhibit 10.1 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended December 2, 2008 (File No. 1-12454)).*                                                                                                                                                                                 |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.4          |   | Third Amendment, dated as of January 6, 2010, to the Ruby Tuesday, Inc. Executive Supplemental Pension Plan (Amended and Restated as of January 1, 2007) (incorporated by reference from Exhibit 10.3 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended December 1, 2009 (File No. 1-12454)).*                                                                                                                                                                                    |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.5          |   | Ruby Tuesday, Inc. Stock Incentive and Deferred Compensation Plan for Directors (Amended and Restated as of October 8, 2008) (File No. 1-12454)).* +                                                                                                                                                                                                                                                                                                                                                          |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.6          |   | First Amendment, dated as of July 21, 2011, to the Ruby Tuesday, Inc. Stock Incentive and Deferred Compensation Plan for Directors (Amended and Restated as of October 8, 2008) (File No. 1-12454)).* +                                                                                                                                                                                                                                                                                                       |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.7          |   | Ruby Tuesday, Inc. 2003 Stock Incentive Plan (formerly the 1996 Non-Executive Stock Incentive Plan (formerly the Morrison Restaurants Inc. 1993 Non-Executive Stock Incentive Plan)) (incorporated by reference from Exhibit 10(h) to the Morrison Restaurants Inc. Annual Report on Form 10-K for the fiscal year ended June 5, 1993 (File No. 0-1750) and by reference from Exhibit 10.10 to the Ruby Tuesday, Inc. Annual Report on Form 10-K for the fiscal year ended June 1, 2004 (File No. 1-12454)).* |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.8          |   | First Amendment, dated as of July 6, 2005, to the 2003 Stock Incentive Plan (incorporated by reference from Exhibit 10.14 to the Ruby Tuesday, Inc. Annual Report on Form 10-K for the fiscal year ended June 6, 2006 (File No. 1-12454)).*                                                                                                                                                                                                                                                                   |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.9          |   | Second Amendment, dated as of July 11, 2006, to the 2003 Stock Incentive Plan (incorporated by reference from Exhibit 10.3 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended December 5, 2006 (File No. 1-12454)).*                                                                                                                                                                                                                                                               |

----

|   |   |                                                                                                                                                                                                                                                                                                                                                                               |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.10  |   | Ruby Tuesday, Inc. 2006 Executive Incentive Compensation Plan (incorporated by reference from Exhibit 10.2 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended December 5, 2006 (File No. 1-12454)).*                                                                                                                                                    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                               |
| 10.11  |   | Morrison Restaurants Inc. Deferred Compensation Plan, as restated effective January 1, 1994, together with amended and restated Trust Agreement, dated as of December 1, 1992, to Deferred Compensation Plan (incorporated by reference from Exhibit 10(i) to the Morrison Restaurants Inc. Annual Report on Form 10-K for the fiscal year ended June 5, 1993 (File No. 0-1750)).* |
|   |   |                                                                                                                                                                                                                                                                                                                                                                               |
| 10.12  |   | Morrison Restaurants Inc. Management Retirement Plan together with First Amendment, dated as of June 30, 1994 and Second Amendment, dated as of July 31, 1995 (incorporated by reference from Exhibit 10(n) to the Morrison Restaurants Inc. Annual Report on Form 10-K for the fiscal year ended June 3, 1995 (File No. 1-12454)).*                                               |
|   |   |                                                                                                                                                                                                                                                                                                                                                                               |
| 10.13  |   | Form of Third Amendment to Management Retirement Plan (incorporated by reference from Exhibit 10.32 to Form 8-B filed on March 15, 1996 (File No. 1-12454)).*                                                                                                                                                                                                                      |
|   |   |                                                                                                                                                                                                                                                                                                                                                                               |
| 10.14  |   | Form of Fourth Amendment to Management Retirement Plan (incorporated by reference from Exhibit 10.14 to the Ruby Tuesday, Inc. Annual Report on Form 10-K for the fiscal year ended June 3, 2003 (File No. 1-12454)).*                                                                                                                                                             |
|   |   |                                                                                                                                                                                                                                                                                                                                                                               |
| 10.15  |   | Form of Fifth Amendment to Management Retirement Plan (incorporated by reference from Exhibit 10.15 to the Ruby Tuesday, Inc. Annual Report on Form 10-K for the fiscal year ended June 3, 2003 (File No. 1-12454)).*                                                                                                                                                         |
| 10.16  |   | Sixth Amendment, dated as of April 9, 2001, to the Ruby Tuesday, Inc. Management Retirement Plan (incorporated by reference from Exhibit 10.41 to the Ruby Tuesday, Inc. Annual Report on Form 10-K for the fiscal year ended June 5, 2001 (File No. 1-12454)).*                                                                                                                   |
|   |   |                                                                                                                                                                                                                                                                                                                                                                               |
| 10.17  |   | Seventh Amendment (dated as of October 5, 2004) to the Ruby Tuesday, Inc. Management Retirement Plan (incorporated by reference from Exhibit 99.5 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended November 30, 2004 (File No. 1-12454)).*                                                                                                            |
|   |   |                                                                                                                                                                                                                                                                                                                                                                               |
| 10.18  |   | Morrison Retirement Plan, amended and restated as of October 7, 2009 (incorporated by reference from Exhibit 10.1 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended December 1, 2009 (File No. 1-12454)).*                                                                                                                                             |
|   |   |                                                                                                                                                                                                                                                                                                                                                                               |
| 10.19  |   | Executive Group Life and Executive Accidental Death and Dismemberment Plan (incorporated by reference from Exhibit 10(q) to the Morrison Restaurants Inc. Annual Report on Form 10-K for the fiscal year ended June 3, 1989 (File No. 0-1750)).*                                                                                                                                   |
|   |   |                                                                                                                                                                                                                                                                                                                                                                               |
| 10.20  |   | Morrison Restaurants Inc. Executive Life Insurance Plan (incorporated by reference from Exhibit 10(a)(a) to the Morrison Restaurants Inc. Annual Report on Form 10-K for the fiscal year ended June 4, 1994 (File No. 1-12454)).*                                                                                                                                                  |
|   |   |                                                                                                                                                                                                                                                                                                                                                                               |
| 10.21  |   | Form of First Amendment to the Morrison Restaurants Inc. Executive Life Insurance Plan (incorporated by reference from Exhibit 10.25 to the Ruby Tuesday, Inc. Annual Report on Form 10-K for the fiscal year ended June 3, 2003 (File No. 1-12454)).*                                                                                                                             |
|   |   |                                                                                                                                                                                                                                                                                                                                                                               |
| 10.22  |   | Second Amendment (dated as of January 1, 2004) to the Ruby Tuesday Inc. Executive Life Insurance Plan (formerly the Morrison Restaurants Inc. Executive Life Insurance Plan) (incorporated by reference from Exhibit 99.2 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended November 30, 2004 (File No. 1-12454)).*                                    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                               |
| 10.23  |   | Ruby Tuesday Inc. Executive Life Insurance Premium Plan dated as of January 1, 2004 (incorporated by reference from Exhibit 99.1 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter                                                                                                                                                                           |

----

|   |   | ended November 30, 2004 (File No. 1-12454)).*                                                                                                                                                                                                                               |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                             |
| 10.24  |   | Ruby Tuesday, Inc. 1996 Stock Incentive Plan, restated as of September 30, 1999 (incorporated by reference from Exhibit 99.1 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended September 3, 2000 (File No. 1-12454)).*                               |
|   |   |                                                                                                                                                                                                                                                                             |
| 10.25  |   | First Amendment, dated as of July 10, 2000, to the restated Ruby Tuesday, Inc. 1996 Stock Incentive Plan (incorporated by reference from Exhibit 99.2 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended September 3, 2000 (File No. 1-12454)).*      |
|   |   |                                                                                                                                                                                                                                                                             |
| 10.26  |   | Ruby Tuesday, Inc. Salary Deferral Plan, amended and restated as of October 7, 2009 (incorporated by reference from Exhibit 10.2 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended December 1, 2009 (File No. 1-12454)).*                            |
|   |   |                                                                                                                                                                                                                                                                             |
| 10.27  |   | First Amendment, dated as of April 6, 2011, to the Ruby Tuesday, Inc. Salary Deferral Plan (incorporated by reference from Exhibit 10.1 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended March 1, 2011 (File No. 1-12454)).*                        |
|   |   |                                                                                                                                                                                                                                                                             |
| 10.28  |   | Ruby Tuesday, Inc. Deferred Compensation Plan Trust Agreement restated as of June 1, 2001 (incorporated by reference from Exhibit 10.44 to the Ruby Tuesday, Inc. Annual Report on Form 10-K for the fiscal year ended June 5, 2001 (File No. 1-12454)).*                        |
|   |   |                                                                                                                                                                                                                                                                             |
| 10.29  |   | First Amendment, dated as of June 10, 2002, to the Ruby Tuesday, Inc. Deferred Compensation Plan Trust Agreement (incorporated by reference from Exhibit 10.58 to the Ruby Tuesday, Inc. Annual Report on Form 10-K for the fiscal year ended June 4, 2002 (File No. 1-12454)).* |
|   |   |                                                                                                                                                                                                                                                                             |
| 10.30  |   | Ruby Tuesday, Inc. Restated Deferred Compensation Plan, dated as of November 26, 2002 (incorporated by reference from Exhibit 99.2 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended December 3, 2002 (File No. 1-12454)).*                          |
|   |   |                                                                                                                                                                                                                                                                             |
| 10.31  |   | Ruby Tuesday, Inc. 2005 Deferred Compensation Plan (incorporated by reference from Exhibit 10.1 to Form 8-K filed on January 18, 2005 (File No. 1-12454)).*                                                                                                                      |
|   |   |                                                                                                                                                                                                                                                                             |
| 10.32  |   | First Amendment, dated as of December 14, 2006, to the Ruby Tuesday, Inc. 2005 Deferred Compensation Plan (incorporated by reference from Exhibit 10.6 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended December 5, 2006 (File No. 1-12454)).*      |
|   |   |                                                                                                                                                                                                                                                                             |
| 10.33  |   | Second Amendment, dated as of July 11, 2007, to the Ruby Tuesday, Inc. 2005 Deferred Compensation Plan (incorporated by reference from Exhibit 10.40 to the Ruby Tuesday, Inc. Annual Report on Form 10-K for the fiscal year ended June 5, 2007 (File No. 1-12454)).*           |
|   |   |                                                                                                                                                                                                                                                                             |
| 10.34  |   | Third Amendment, dated as of December 30, 2008, to the Ruby Tuesday, Inc. 2005 Deferred Compensation Plan (incorporated by reference from Exhibit 10.3 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended December 2, 2008 (File No. 1-12454)).*      |
|   |   |                                                                                                                                                                                                                                                                             |
| 10.35  |   | Fourth Amendment, dated as of December 31, 2008, to the Ruby Tuesday, Inc. 2005 Deferred Compensation Plan (incorporated by reference from Exhibit 10.4 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended December 2, 2008 (File No. 1-12454)).*     |
|   |   |                                                                                                                                                                                                                                                                             |
| 10.36  |   | Fifth Amendment, dated as April 6, 2011, to the Ruby Tuesday, Inc. 2005 Deferred Compensation Plan (incorporated by reference from Exhibit 10.2 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended March 1, 2011 (File No. 1-12454)).*                |
|   |   |                                                                                                                                                                                                                                                                             |
| 10.37  |   | Form of Non-Qualified Stock Option Award and Terms and Conditions (ESOP) (incorporated by reference from Exhibit 10.1 to Form 8-K filed on April 1, 2005 (File No. 1-12454)).*                                                                                                   |

----

|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.38  |   | Form of Non-Qualified Stock Option Award and Terms and Conditions (MSOP) (incorporated by reference from Exhibit 10.2 to Form 8-K filed on April 1, 2005 (File No. 1-12454)).*                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.39  |   | Form of Non-Qualified Stock Option Award and Terms and Conditions (Beall) (incorporated by reference from Exhibit 10.3 to Form 8-K filed on April 1, 2005 (File No. 1-12454)).*                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.40  |   | Consulting Agreement, dated as of January 8, 2009, by and between Ruby Tuesday, Inc. and Global Partner Ships, Inc. (incorporated by reference from Exhibit 10.6 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended December 2, 2008 (File No. 1-12454)).                                                                                                                                                                                                                                                                                                                                           |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.41  |   | Description of Cash Bonus Plan (incorporated by reference to Form 8-K filed on July 14, 2006 (File No. 1-12454)).*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.42  |   | Distribution Agreement, dated as of March 2, 1996, by and among Morrison Restaurants Inc., Morrison Fresh Cooking, Inc. and Morrison Health Care, Inc. (incorporated by reference from Exhibit 10.23 to Form 8-B filed on March 15, 1996 (File No. 1-12454)).                                                                                                                                                                                                                                                                                                                                                                  |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.43  |   | Amended and Restated Tax Allocation and Indemnification Agreement, dated as of March 2, 1996, by and among Morrison Restaurants Inc., Custom Management Corporation of Pennsylvania, Custom Management Corporation, John C. Metz & Associates, Inc., Morrison International, Inc., Morrison Custom Management Corporation of Pennsylvania, Morrison Fresh Cooking, Inc., Ruby Tuesday, Inc., a Delaware corporation, Ruby Tuesday (Georgia), Inc., a Georgia corporation, Tias, Inc. and Morrison Health Care, Inc. (incorporated by reference from Exhibit 10.24 to Form 8-B filed on March 15, 1996 (File No. 1-12454)). |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.44  |   | Agreement Respecting Employee Benefit Matters, dated as of March 2, 1996, by and among Morrison Restaurants Inc., Morrison Fresh Cooking, Inc. and Morrison Health Care, Inc. (incorporated by reference from Exhibit 10.25 to Form 8-B filed on March 15, 1996 (File No. 1-12454)).                                                                                                                                                                                                                                                                                                                                           |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.45  |   | Form of Non-Qualified Stock Option Award and Terms and Conditions (DSOP) (incorporated by reference from Exhibit 10.2 to Form 8-K filed on October 6, 2005 (File No. 1-12454)).*                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.46  |   | Form of Restricted Stock Award and Additional Terms and Conditions (incorporated by reference from Exhibit 10.1 to Form 8-K filed on October 6, 2005 (File No. 1-12454)).*                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.47  |   | Trust Agreement (dated as of July 23, 2004) between Ruby Tuesday Inc. and U.S. Trust Company, N.A. (incorporated by reference from Exhibit 99.3 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended November 30, 2004 (File No. 1-12454)).*                                                                                                                                                                                                                                                                                                                                                          |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.48  |   | Master Distribution Agreement, dated as of December 8, 2006 and effective as of November 15, 2006, by and between Ruby Tuesday, Inc. and PFG Customized Distribution (portions of which have been redacted pursuant to a confidential treatment request filed with the SEC) (incorporated by reference from Exhibit 10.4 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended December 5, 2006 (File No. 1-12454)).                                                                                                                                                                                   |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.49  |   | Revolving Credit Agreement, dated as of December 1, 2010, by and among Ruby Tuesday, Inc., the Lenders party hereto, Bank of America, N.A., as Administrative Agent, Issuing Bank, Servicer and Swingline Lender, and Regions Bank, as Syndication Agent (incorporated by reference from Exhibit 10.1 to Form 8-K filed on December 7, 2010 (File No. 1-12454)).                                                                                                                                                                                                                                                               |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.50  |   | First Amendment to Revolving Credit Agreement, dated as of July 19, 2011, by and among Ruby Tuesday, Inc., the Lenders party hereto, and Bank of America, N.A., as Administrative Agent, Issuing Bank, Servicer and Swingline Lender (incorporated by reference from Exhibit 10.1 to Form 8-K filed on July 21, 2011 (File No. 1-12454)).                                                                                                                                                                                                                                                                                      |

----

|   |   |                                                                                                                                                                                                                                                                                           |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.51  |   | Lender Commitment Agreement dated as of July 19, 2011 among Ruby Tuesday, Inc., the Guarantors, Bank of America, N.A., as Administrative Agent and Wells Fargo Bank, National Association (incorporated by reference from Exhibit 10.2 to Form 8-K filed on July 21, 2011 (File No. 1-12454)). |
|   |   |                                                                                                                                                                                                                                                                                           |
| 10.52  |   | Lender Commitment Agreement dated as of July 19, 2011 among Ruby Tuesday, Inc., the Guarantors, Bank of America, N.A., as Administrative Agent and PNC Bank, National Association (incorporated by reference from Exhibit 10.3 to Form 8-K filed on July 21, 2011 (File No. 1-12454)).         |
|   |   |                                                                                                                                                                                                                                                                                           |
| 10.53  |   | Lender Commitment Agreement dated as of July 19, 2011 among Ruby Tuesday, Inc., the Guarantors, Bank of America, N.A., as Administrative Agent and Fifth Third Bank (incorporated by reference from Exhibit 10.3 to Form 8-K filed on July 21, 2011 (File No. 1-12454)).                       |
|   |   |                                                                                                                                                                                                                                                                                           |
| 10.54  |   | Lender Commitment Agreement dated as of July 19, 2011 among Ruby Tuesday, Inc., the Guarantors, Bank of America, N.A., as Administrative Agent and US Bank National Association (incorporated by reference from Exhibit 10.3 to Form 8-K filed on July 21, 2011 (File No. 1-12454)).           |
|   |   |                                                                                                                                                                                                                                                                                           |
| 10.55  |   | Amended and Restated Note Purchase Agreement, dated as of May 21, 2008, by and among Ruby Tuesday, Inc. and the institutional investors thereto (incorporated by reference from Exhibit 10.3 to Form 8-K filed on May 22, 2008 (File No. 1-12454)).                                            |
|   |   |                                                                                                                                                                                                                                                                                           |
| 10.56  |   | First Amendment, dated as of December 1, 2010, to the Amended and Restated Note Purchase Agreement, by and among Ruby Tuesday, Inc. and the institutional investors thereto (incorporated by reference from Exhibit 10.2 to Form 8-K filed on December 7, 2010 (file No. 1-12454)).            |
|   |   |                                                                                                                                                                                                                                                                                           |
| 10.57  |   | Restricted Stock Award (incorporated by reference from Exhibit 10.1 to Form 8-K filed on April 17, 2007 (File No. 1-12454)).*                                                                                                                                                                  |
|   |   |                                                                                                                                                                                                                                                                                           |
| 10.58  |   | Restricted Stock Award (Beall) (incorporated by reference from Exhibit 10.2 to Form 8-K filed on April 17, 2007 (File No. 1-12454)).*                                                                                                                                                          |
|   |   |                                                                                                                                                                                                                                                                                           |
| 10.59  |   | Form of Director Restricted Stock Award (incorporated by reference from Exhibit 10.4 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended December 4, 2007 (File No. 1-12454)).*                                                                                      |
|   |   |                                                                                                                                                                                                                                                                                           |
| 10.60  |   | Non-Qualified Stock Option Award (Beall) (incorporated by reference from Exhibit 10.3 to Form 8-K filed on April 17, 2007 (File No. 1-12454)).*                                                                                                                                                |
|   |   |                                                                                                                                                                                                                                                                                           |
| 10.61  |   | First Amendment to the Ruby Tuesday, Inc. Non-Qualified Stock Option Award (incorporated by reference from Exhibit 10.4 to Form 8-K filed on April 17, 2007 (File No. 1-12454)).*                                                                                                              |
|   |   |                                                                                                                                                                                                                                                                                           |
| 10.62  |   | Indenture, dated December 31, 2007, to the Ruby Tuesday, Inc. Cafeteria Plan (incorporated by reference from Exhibit 10.4 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended March 4, 2008 (File No. 1-12454)).*                                                    |
|   |   |                                                                                                                                                                                                                                                                                           |
| 10.63  |   | Second Amendment, dated as of December 15, 2010, to the Ruby Tuesday, Inc. Cafeteria Plan (incorporated by reference from Exhibit 10.1 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended November 30, 2010 (File No, 1-12454)).*                                   |
|   |   |                                                                                                                                                                                                                                                                                           |
| 10.64  |   | Indenture, dated December 31, 2007, to the Ruby Tuesday, Inc. Health Savings Account Plan (incorporated by reference from Exhibit 10.5 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended March 4, 2008 (File No. 1-12454)).*                                       |
|   |   |                                                                                                                                                                                                                                                                                           |
| 10.65  |   | First Amendment, dated as of December 15, 2010, to the Ruby Tuesday, Inc. Health Savings Account Plan (incorporated by reference from Exhibit 10.2 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended November 30, 2010 (File No, 1-12454)).*                       |

----

|   |   |                                                                                                                                                                                                                                                                                                                                                           |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.66  |   | Form of Indemnification Agreement, dated April 7, 2010 (incorporated by reference from Exhibit 10.1 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended March 2, 2010 (File No. 1-12454)).                                                                                                                                           |
|   |   |                                                                                                                                                                                                                                                                                                                                                           |
| 10.67  |   | Agreement, dated June 30, 2011, by and among Ruby Tuesday, Inc., and Steven R. Becker, Matthew A. Drapkin, Becker Drapkin Partners (QP), L.P., Becker Drapkin Partners, L.P., BD Partners III, L.P., Becker Drapkin Management, L.P., and BC Advisors, LLC (incorporated by reference from Exhibit 10.1 to Form 8-K filed on July 1, 2011 (File No. 1-12454)). |
|   |   |                                                                                                                                                                                                                                                                                                                                                           |
| 10.68  |   | Agreement, dated June 30, 2011, by and among Ruby Tuesday, Inc., and Double Black Diamond Offshore Ltd., Black Diamond Offshore Ltd., Carlson Capital, L.P., Asgard Investment Corp., and Clint D. Carlson (incorporated by reference from Exhibit 10.2 to Form 8-K filed on July 1, 2011 (File No. 1-12454)).                                                 |
|   |   |                                                                                                                                                                                                                                                                                                                                                           |
| 10.69  |   | Form of Non-Qualified Stock Option Award (incorporated by reference from Exhibit 10.1 to Form 8-K filed on July 27, 2010 (File No. 1-12454)).*                                                                                                                                                                                                                 |
|   |   |                                                                                                                                                                                                                                                                                                                                                           |
| 10.70  |   | Form of Service Stock Award (incorporated by reference from Exhibit 10.2 to Form 8-K filed on July 27, 2010 (File No. 1-12454)).*                                                                                                                                                                                                                              |
|   |   |                                                                                                                                                                                                                                                                                                                                                           |
| 10.71  |   | Ruby Tuesday, Inc. Severance Pay Plan, amended and restated as of January 5, 2011 (incorporated by reference from Exhibit 10.3 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended November 30, 2010 (File No. 1-12454)).*                                                                                                           |
|   |   |                                                                                                                                                                                                                                                                                                                                                           |
| 10.72  |   | Ruby Tuesday, Inc. Executive Compensation Clawback Policy, dated as of July 22, 2010 (incorporated by reference from Exhibit 10.1 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended August 31, 2011 (File No, 1-12454)).*                                                                                                          |
|   |   |                                                                                                                                                                                                                                                                                                                                                           |
| 10.73  |   | Ruby Tuesday, Inc. 2010 Executive Incentive Compensation Plan (incorporated by reference from Exhibit 10.2 to the Ruby Tuesday, Inc. Quarterly Report on Form 10-Q for the quarter ended August 31, 2011 (File No, 1-12454)).*                                                                                                                                 |
|   |   |                                                                                                                                                                                                                                                                                                                                                           |
| 12.1   |   | Statement regarding computation of Consolidated Ratio of Earnings to Fixed Charges.+                                                                                                                                                                                                                                                                           |
|   |   |                                                                                                                                                                                                                                                                                                                                                           |
| 21.1   |   | Subsidiaries of Ruby Tuesday, Inc.+                                                                                                                                                                                                                                                                                                                            |
|   |   |                                                                                                                                                                                                                                                                                                                                                           |
| 23.1   |   | Consent of KPMG LLP, Independent Registered Public Accounting Firm.+                                                                                                                                                                                                                                                                                           |
|   |   |                                                                                                                                                                                                                                                                                                                                                           |
| 31.1   |   | Certification of Chairman of the Board, President, and Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.+                                                                                                                                                                                                                     |
|   |   |                                                                                                                                                                                                                                                                                                                                                           |
| 31.2   |   | Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.+                                                                                                                                                                                                                                                           |
|   |   |                                                                                                                                                                                                                                                                                                                                                           |
| 32.1   |   | Certification of Chairman of the Board, President, and Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.+                                                                                                                                                                                                                     |
|   |   |                                                                                                                                                                                                                                                                                                                                                           |
| 32.2   |   | Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.+                                                                                                                                                                                                                                                           |