Ron Shaich, Panera Bread chairman and CEO, said, "As previously reported, I sold 100,000 shares of Class A Shares from November 28 to November 29, 2000 at prices ranging from $21.00 to $22.00 per share. This represented less than 5% of my economic interest in Panera Bread. I remain absolutely confident in Panera Bread's ability to continue its rapid growth in sales and profits.''
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 Oct. 31, 2000 Panera Bread operated 241 bakery-cafes (90 company-owned and 151 franchised bakery-cafes) in 27 states. Additional information is available on the company's website, www.panerabread.com