WINSTON-SALEM, N.C.—May 3, 2002— Krispy Kreme Doughnuts, Inc. (NYSE: KKD) announced yesterday evening that the Krispy Kreme store located outside of Minneapolis in Maple Grove, Minnesota, has set a new opening week sales record. First week sales for the Maple Grove location were $480,693. The previous record, $465,003 Cdn, was set at the Company’s first international opening in December 2001 in Mississauga, Ontario, Canada, located outside of Toronto. This marks the Company’s third opening record for first week sales set during the past six months.

“We are extremely honored by the warm reception we have received in the Twin Cities area,” said Scott Livengood, Chairman, President and CEO of Krispy Kreme Doughnuts, Inc. “The response has been wonderful and we look forward to developing long and happy customer relationships as we open additional stores in the area.” Larry Jaro of Glazed Investments, LLC, the Krispy Kreme Area Developer for Minnesota, Wisconsin and Colorado, echoed Livengood’s statements, “We are thrilled to bring the Krispy Kreme experience to the Minneapolis area. We have a great team of employees who are excited to be serving Krispy Kreme doughnuts to our loyal customers and we look forward to being an active member of the Twin Cities community.”

The Maple Grove store opened on Tuesday, April 23, 2002 and is located at 7851 Elm Creek Boulevard.