For Immediate Release For more information contact: Michelle Berridge Scoville, 319-361-0785 Panera Bread Breaks Ground in Waterloo for Newest Location Nation’s Leading Bakery-Cafe to Open Fall 2003 Cedar Rapids IA, July 17, 2003 – Panera Bread, the nation’s leading bakery-cafe brand, has chosen Waterloo, Iowa for its newest location. You’re invited to the official groundbreaking ceremony. The ceremony will take place at 10am Friday, July 25th at the new location, the intersection of La Porte and San Marnan Roads. The head of operations for Panera Bread, SLB of Iowa, and local dignitaries will be manning the shovels for the groundbreaking and available for interviews afterward. Panera Bread refreshments will be served following the ceremony. The new Waterloo bakery-cafe will be lucky 13 for the franchise, and is set to open in the Fall of 2003. This will be the second Panera Bread in the Waterloo/Cedar Falls market. The bakery-cafe at 6403 University Avenue (College Square Mall) in Cedar Falls celebrated its first anniversary on May 15th of this year . Currently operating 505 bakery-cafes in 30 states, Panera Bread has quickly grown toward its goal of more than 500 bakery-cafes across America. Trading on the NASDAQ exchange under the symbol PRNA, Panera reported $755.4 million dollars in total system sales for fiscal year 2002. System-wide sales in 2003 are expected to exceed $1 billion. Panera Bread freshly bakes more bread every day than any other bakery-cafe in the nation, serving more than 20 varieties. Freshly baked breads and bread products form the foundation of the Panera Bread bakery-cafe menu – from breakfast bagels and muffins to sandwiches, hand-tossed salads and soups served in Sourdough Bread Bowls. Panera Bread bakery-cafes – defined by special features like real china and cozy conversation areas – set the standard in the popular and growing “quick-casual” market segment. The opening of the bakery-cafe is part of the recent growth of Panera Bread in the state of Iowa. They opened two new stores this year: one in Ames in January and one in Ankeny in February. “Opening a new bakery-cafe in Waterloo means that we are one step closer to our goal of putting a loaf of delicious, freshly baked bread in every arm across America,” said Ken Matlack, general manager of the Cedar Falls bakery-café. ### Panera Bread, based in Richmond Heights, Mo., is the leading bakery-cafe business in the United States. As reported in the December 28, 2002, Panera Bread earnings release, the company operates 478 bakery- cafes in 30 states under the names Panera Bread and Saint Louis Bread Co. For more information or to arrange an interview, please call Michelle Berridge Scoville at 319-361-0785 or visit www.paneraiowa.com.
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