Industry News | July 17, 2001

Panera Bread to Open 10 Bakery-Cafes in Houston

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Panera Bread Company (Nasdaq: PNRA) announced an agreement with the Cain Group of Little Rock, Ark., to open 10 Panera Bread bakery-cafes in Montgomery, Harris and Fort Bend Counties in the Houston, Texas, area. The Cain Group is scheduled to open its first bakery-cafe by June 2002.

Chuck Cain, Andria Cain and Pam Harbaugh, principals of the Cain Group, each have extensive experience in restaurant franchise operations. Chuck and Andria Cain formerly owned three Applebee's restaurants in Little Rock, Ark., and the Cain Group currently owns 21 Pizza Huts in Illinois and Indiana and six Sonic Drive In restaurants in Nevada and Illinois.

Ron Shaich, Panera Bread chairman and chief executive officer, said, "We are very pleased to welcome Chuck, Andria and Pam into the Panera Bread family. Their group brings the resources and experience we need to successfully launch our concept in Houston.''

Chuck Cain said he appreciates the opportunity to represent the Panera Bread brand. "We are proud and happy to be part of the number one bakery-cafe operation in the country. We see in Panera Bread a commitment to quality products and execution as well as strategic growth. We believe the brand will have lasting value.''

Panera Bread continues to pursue other qualified franchisee candidates to develop the remainder of the Houston market.

Panera Bread owns and franchises bakery-cafes under the Panera Bread and Saint Louis Bread Co. names. The company is the leader in the emerging specialty bread/cafe category due to its unique bread combined with a quick, casual dining experience. As previously reported, as of April 21, 2001, 285 Panera Bread bakery-cafes (including four specialty bakery-cafes) were operating in 29 states (94 company-owned and 191 franchised bakery-cafes). Additional information is available on the company's website, www.panerabread.com .

News and information presented in this release has not been corroborated by QSR, Food News Media, or Journalistic, Inc.