SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Expires: February 28, 2011 Estimated average burden hours per response 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* BASHAM ROBERT DANKER (Last) (First) (Middle) C/O OUTBACK STEAKHOUSE, INC. 2202 N. WEST SHORE BLVD., 5TH FLOOR (Street) TAMPA FL 33607 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol OUTBACK STEAKHOUSE INC [ OSI ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner X Officer (give title below) Other (specify below) President and COO
	3. Date of Earliest Transaction (Month/Day/Year) 06/30/2003
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $.01	06/30/2003		J		7,304,975 ( 1 ) ( 2 ) ( 3 )	D	( 4 )	0	I	See ( 1 ) ( 2 ) ( 3 )
Common Stock, par value $.01	06/30/2003		J		3,029,378 ( 1 ) ( 2 ) ( 3 )	A	( 4 )	3,029,378	I	See ( 6 )
Common Stock, par value $.01								105,853	D
Common Stock, par value $.01								2,012,973	I	See ( 5 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Owned by Multi-Venture Partners, Ltd., a Nevada limited partnership ("MVP"). The reporting person received 3,000,000 shares in a liquidating distribution from MVP and 29,378 shares from SBG Investments, LLC, the sole general partner of MVP. These shares were previously reported as beneficially owned by the reporting person indirectly through MVP. The foregoing transaction is exempt from Section 16 pursuant to Rule 16a-13 as a change in form of beneficial ownership. [Continued on footnotes 2 and 3]

2. [Continued from footnote 1] On June 30, 2003, SBG Investments, LLC. ("SBG"), the sole general partner of Multi-Venture Partners, Ltd. ("MVP"), transferred, on behalf of each of its partners, Messrs. Sullivan, Basham and Gannon, 29,379 shares, 29,378 shares and 14,689 shares of Outback Steakhouse, Inc. Common Stock, respectively, and each partner's pro rata share of SBG's general partner interest in MVP, to CTS Equities, LLC, RDB Equities, LLC and JTG Equities, LLC, respectively. [Continued on footnote 3]

3. [Continued from footnote 2] In addition, on June 30, 2003, MVP contributed 2,780,915 shares, 3,000,000 shares and 1,450,614 shares of Outback Steakhouse, Inc. Common Stock to CTS Equities Limited Partnership, RDB Equities Limited Partnership and JTG Equities Limited Partnership, respectively, in exchange for a 99% limited partner interest in each limited partnership, respectively. Simultaneously with the exchange, MVP transferred its 99% limited partner interest in each limited partnership to Messrs. Sullivan, Basham and Gannon, respectively. As a result of these transactions, the shares previously shown as being indirectly owned by each of Messrs. Sullivan, Basham and Gannon through their ownership of SBG and/or MVP are now owned indirectly by each of them through CTS Equities Limited Partnership, RDB Equities Limited Partnership and JTG Equities Limited Partnership, respectively.

4. Not applicable.

5. Owned by Robert D. Basham Revocable Trust Agreement of 1992, dated September 4, 1992 ("Revocable Trust"), Robert D. Basham, Trustee, is the sole beneficiary of the Revocable Trust.

6. Owned by RDB Equities, Limited Partnership, a Nevada limited partnership ("LP"). The reporting person is a limited partner in the LP and owns an interest in the General Partner of LP.

Remarks:

	Joseph J. Kadow, Attorney-in-Fact	12/05/2003
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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