Panera Bread Company Celebrates 1000th Bakery-Cafe and Success as a Public Company by Opening the NASDAQ Stock Market Today

Panera Bread Company (NASDAQ: PNRA) today celebrates two significant business milestones - the upcoming opening of the 1,000th Panera bakery-cafe and Panera’s success as a publicly traded company on NASDAQ. The Company is celebrating by ringing The Nasdaq Stock Market Opening Bell this morning. Panera Bread Chairman and CEO Ron Shaich commented, "Our 1000th opening, expected in early November in Oakbrook, Illinois comes on top of Panera’s industry-leading performance over the last 10 years, and the power of a concept that continues to deliver among the highest volumes in the industry.” Shaich continued, "Today, Panera enjoys a unique standing among a select few distinguished companies that have meaningfully impacted the consumer consciousness. Earlier this year, Panera was highlighted by the Wall Street Journal for its outstanding stock performance – both over the short-term and long-term. Panera demonstrated industry leading stock performance as measured by the Wall Street Journal ‘Shareholder Scoreboard,’ which evaluates stock growth for the Dow Jones U.S. Total Market Index's 1,000 largest companies. Panera Bread topped the list in the Restaurants and Bars category for one-year shareholder returns (63% return), five-year shareholder returns (42% return) and ten-year shareholder returns (32% return), besting notable companies in the restaurant category including Starbucks, Darden Restaurants, Wendy’s, Cheesecake Factory, McDonald’s and Outback Steakhouse. Across the 1,000 largest companies that were ranked, Panera was the 28th best performer as measured by shareholder return over the last 10 years. "With annual unit volumes reaching almost $2 million per unit, our success also speaks to the tireless dedication of the Panera family, from our bakers to our franchisees, and their shared passion for bringing artisan bread and specialty food to consumers in search of something better.” Shaich added, "Although we have ranked in the Dow Jones U.S. Total Market Index as the best performing restaurant stock in America over the last ten years, we consider ourselves to be in the early stages of growth. Our expectation that we and our franchisees will open a new bakery-cafe every other day or so for the foreseeable future is indicative of the tremendous growth we see ahead of us.” With its identity rooted in handcrafted, fresh-baked, artisan bread, Panera Bread is committed to providing great tasting, quality food that people can trust. Highlighted by antibiotic free chicken, whole grain bread, select organic and all-natural ingredients and a menu free of man-made trans fat, Panera’s bakery-cafe selection offers flavorful, wholesome offerings. The menu includes a wide variety of year-round favorites to compliment new items introduced seasonally with the goal of creating new standards in everyday food choices. In neighborhoods across the country, guests are enjoying Panera’s warm and welcoming environment featuring comfortable gathering areas, relaxing decor and free WiFi Internet access. At the close of each day, Panera Bread bakery-cafes donate bread and baked goods to community organizations in need. "We have seen great benefit through our long affiliation with NASDAQ,” concluded Shaich. "Particularly exciting is that we’re opening The NASDAQ Stock Market at a point in our growth trajectory where we can publicly celebrate such significant performance and business milestones.” About Panera Bread Company Panera Bread Company owns and franchises bakery-cafes under the Panera Bread® and Saint Louis Bread Co.® names. As of September 26, 2006, there were 976 bakery-cafes open (353 company-owned and 623 franchised). Additional information is available on the Company's website, panerabread.com. Matters discussed in this news release, including any discussion or impact, express or implied, on the Company's anticipated growth and operating results, 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. These statements are often identified by the words "believe”, "consider”, "continue”, "expect", "will”, "future", "anticipates", and similar expressions. All forward-looking statements included in this release are made only as of the date of this release, and we do not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that occur or which we hereafter become aware, after that date. Forward-looking information expresses management's present belief, expectations, or intentions regarding the Company's future performance. 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: inability to execute our growth strategy, including variations in the number, timing, and successful nature of Company and franchise bakery-cafe openings and continued successful operation of bakery-cafes; failure to comply with government regulations; loss of a member of senior management; failure or inability to protect our brand, trademarks, or other proprietary rights; competition; rising insurance costs; disruption in our supply chain or increases in ingredient, product, or other supply costs; disruptions or supply issues in our fresh dough facilities; health concerns about the consumption of certain products; complaints and litigation; risks associated with the acquisition of franchise-operated bakery-cafes; other factors, some of which may be beyond our control, effecting our operating results; and other factors that may affect restaurant owners or retailers in general. These and other risks are discussed from time to time in the Company's SEC reports, including its Form 10-K for the year ended December 27, 2005 and its quarterly reports on Form 10-Q.