Schlotzsky’s Inc. (Nasdaq:BUNZ) today announced
that through March 14, 2001, it has repurchased 102,500 shares of its common stock at an average per share price
of $3.71 since it announced a share repurchase program on Dec. 26, 2000.

In January 2001, the Board of Directors increased the total repurchase authorization to one million shares.

The company anticipates continuing to repurchase shares based on their availability and price, and transactions will
be subject to the discretion of the company’s management, cash resources and debt covenant restrictions.

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