ST. LOUIS—May 9, 2002 —Panera Bread Company (Nasdaq: PNRA ) today reported that system-wide comparable bakery-cafe sales (excluding specialty bakery-cafes and closed locations) increased 5.6% for the four weeks ended April 20, 2002.

Average system-wide weekly sales (excluding specialty bakery-cafes and closed locations) increased 5.5% to $34,376 for the four weeks ended April 20, 2002, compared to $32,585 for the four weeks ended April 21, 2001. Average system-wide weekly sales (excluding specialty bakery-cafes and closed locations) increased 5.9% to $34,264 for the sixteen weeks ended April 20, 2002, compared to $32,345 for the sixteen weeks ended April 21, 2001.