Industry News | April 8, 2002

Panera Bread Is Ranked as Best-Performing Stock in Business Week/USA Today S&P SmallCap 600 Index

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ST. LOUIS, April 8 /PRNewswire-FirstCall/ -- Panera Bread Company (Nasdaq: PNRA - news) today announced that it was listed this week as the top- performing company, in total return to its shareholders over the last three years, in an analysis of the Standard & Poor's SmallCap 600 index performed by Business Week magazine and USA Today.

The listing appeared in the Spring 2002 edition of the Business Week Fifty, (http://www.businessweek.com/bw50/content/mar2002/a3776053.htm ) prepared in conjunction with USA Today.

The publications built their ``Small-Cap 50'' list by adding the one-year and three-year stock-price increases of companies in the Standard & Poor's SmallCap 600 index. Panera was not only the No. 1 performer, with a 769.4% three-year return and a 165.2% one-year return, but was also the only restaurant company in the top 10 companies.