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EXCESS SPACE RETAIL SERVICES RETAINED BY PANERA BREAD

LAKE SUCCESS, New York –Panera Bread, Co has selected Excess Space Retail Services, Inc. (ESRS), the leading consulting and advisory firm specializing in real estate disposition and lease restructuring for retailers nationwide to exclusively manage the disposition of 4 locations with an aggregate of 14,100 square feet located in 3 states across the nation.

These stores range in size from 1,500 to 4,200 square feet and are located in Connecticut, Florida, and Pennsylvania. Heading the real estate disposition assignment for ESRS will be Leo Greco, Senior Managing Director, from the firm's East Coast Office in Lake Success, New York.

About Excess Space Retail Services, Inc.

Founded in 1992, Excess Space, with offices in Lake Success, New York and Huntington Beach, California, has set the industry standard for providing leading national and regional retailers with "best-in-class" real estate disposition, lease restructuring and lease renewal services. During the company's 15-year history, Excess Space has successfully disposed of and restructured leases for over 130 national and regional retailers. For more information about the privately held firm, call Al Williams at (866) 594-9800 ext. 211 or reference the company's Web site at www.excessspace.com.

About Panera Bread, Co. (NYSE: PNRA )

Panera Bread Company, together with its subsidiaries, operates and franchises retail bakery-cafes in the United States. Its retail products include fresh baked goods, soups, salads, custom roasted coffees, and other complementary products. As of December 25, 2007, Panera operated 532 company-owned and 666 franchise-operated bakery-cafes under the Panera Bread, Saint Louis Bread Co., and Paradise Bakery & Cafe names. The company was founded in 1981 as Au Bon Pain Co., Inc. and changed its name to Panera Bread Company in 1998. Panera is based in Richmond Heights, Missouri.

For specific information about the Panera Bread project please contact Leo Greco at (800) 435-8384 ext. 229.