4401 W Memorial Road

Suite 104

Oklahoma City, OK 73120

In May 1999, all of Au Bon Pain Co., Inc.'s business units were sold,with the exception of Panera Bread, and the company was renamed PaneraBread. Since those transactions were completed, the company's stock hasgrown thirteen-fold and over $1 billion in shareholder value has beencreated. Panera Bread has been recognized as one of Business Week's"100 Hot Growth Companies." As reported by The Wall St. Journal'sShareholder Scorecard in 2006, Panera Bread was recognized as the topperformer in the restaurant category for one-, five- and ten-yearreturns to shareholders.

Today, there are 1,185 Panera Bread® and Saint Louis Bread Co.® instates delivering fresh, authentic artisan bread on a national scale.