Elvis Presley Enterprises Inc. has bought China Buffet, a restaurant at 3641 Elvis Presley Blvd., from CNL
APF Partners LP for $1 million.

The 5,200-square-foot restaurant was built in 1991 and sits on .8 acres on the west side of Elvis Presley
Boulevard south of Bluebird Road. The Shelby County Assessor in 2006 appraised it at $490,100.

CNL Income Fund VIII Ltd., the predecessor company of CNL APF Partners, bought the property in August
1991 for about $877,000.

The restaurant will remain in operation as is, said Todd Morgan, spokesman for Elvis Presley Enterprises
(EPE). Morgan said EPE saw this as an opportunity to invest near other EPE-owned properties. The
restaurant is adjacent to the driveway of Elvis Presley's Heartbreak Hotel at 3677 Elvis Presley Blvd.

In February 2005, Sports Entertainment Enterprises Inc. doing business as CKX Inc., a company owned by
Robert F.X. Sillerman, bought an 85 percent interest in EPE. A year later, CKX announced plans to enhance
Graceland visitors' experiences in the Whitehaven area around Graceland, while preserving the integrity of
the mansion itself.

Originating Source: Memphis Daily News