Panera Bread Company (Nasdaq: PNRA) yesterday reported that system-wide comparable bakery-cafe sales increased 7.3% for the four weeks ended May 19, 2001. System-wide comparable bakery-cafe sales have also increased 7.3% for the twenty weeks ended May 19, 2001. The breakdown between company-owned and franchised bakery-cafes is as follows.

                           For the Four    For the Twenty
Weeks Ended Weeks Ended
May 19, 2001 May 19, 2001

Company-owned 7.3% 7.3%
Franchised 7.3% 7.3%
Total System 7.3% 7.3%


Panera Bread Company owns and franchises bakery-cafes under the Panera Bread and Saint Louis Bread Co. names. The company is a leader in the emerging specialty bread/cafe category due to its unique bread combined with a quick, casual dining experience. Additional information is available on the company’s website, www.panerabread.com.

Matters discussed in this news release, including any discussion or impact, express or implied, on the Company’s anticipated growth, operating results and future earnings per share contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (identified by the words “positioned”, “estimate”, “project”, “target”, “will”, “intend”, “expect”, “future”, “anticipates”, and similar expressions) which express management’s present belief, expectations or intentions regarding the Company’s future performance. Moreover, the Company’s actual results could differ materially from those set forth in the forward-looking statements due to known and unknown risks and uncertainties and could be negatively impacted by a number of factors. These factors include but are not limited to the following: the ability of the Company to aggressively expand its business going forward is subject to the availability of sufficient capital to it and the developers party to franchise development agreements with the Company; and the Company’s operating results may be affected by many factors, including but not limited to variations in the number and timing of bakery-cafe openings and public acceptance of new bakery-cafes, competition and other factors that may affect retailers in general. These and other risks are detailed from time to time in the Company’s SEC reports, including its Form 10-K for the year ended December 30, 2000.