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Panera Bread Announces Plans for Growth in Florida

RICHMOND HEIGHTS, Mo., Feb. 7 PRNewswire-FirstCall — Panera Bread (Nasdaq: PNRA) today announced a new agreement with Covelli Enterprises, dba Flapan, LLC, to develop bakery-cafes in the Florida counties of Palm Beach and Broward. Under the conditions of the new agreement, the Franchisee will open 10 new bakery-cafes. In a separate agreement, Flapan, LLC acquired 16 existing Panera Bread(R) locations in Palm Beach and Broward counties from franchisee West Palm Bread, LLC.

Flapan, LLC is owned by Sam Covelli of Covelli Enterprises, which currently operates 132 Panera Bread locations in Florida, Ohio, Pennsylvania and West Virginia. Covelli Enterprises continually wins awards for exceptional service, cleanliness, customer service and expansive growth. Their Panera Bread locations have won "Best of Awards" in each of the communities they operate.

"We have enjoyed a long-standing relationship with Sam and the entire Covelli organization," said Mike Kupstas, Panera Bread Senior Vice President and Chief Franchise Officer. "They are valued members of the Panera team, and it's wonderful to see their business expand into new markets."

"We are excited about our expansion into Florida," said Sam Covelli. "We have enjoyed tremendous success in our current markets and look forward to the opportunity to broaden our reach and bring Panera to even more communities."

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 with zero grams added 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.

Panera Bread serves fresh baked, handcrafted artisan breads, sweet and savory baked goods, hand-tossed salads, wholesome soups, and signature sandwiches in a distinctly warm and welcoming environment. Panera Bread is committed to using great tasting, quality ingredients in the food we offer and contributing to the neighborhoods in which our customers and employees live and work through programs like Operation Dough-Nation(R). Headquartered in Richmond Heights, MO, Panera Bread owns and franchises 1,167 bakery-cafes under the Panera Bread(R) and Saint Louis Bread Co.(R) names as of December 25, 2007. For more information, visit panerabread.com.

SOURCE Panera Bread