exv99w1

P.F. Chang’s China Bistro, Inc.

(602) 957-8986

Laura Cherry

laurac@pfchangs.com

Kristina Cashman

kristinac@pfchangs.com

EXHIBIT 99.1

(PF CHANG'S LOGO)

P.F. CHANG’S THIRD QUARTER REVENUES GROW 29%

SCOTTSDALE, ARIZONA (September 29, 2004) P.F. Chang’s China Bistro, Inc. (NASDAQ: PFCB) reported today that revenues increased 29% to $179.7 million for the third quarter ended September 26, 2004 from $139.7 million in the third quarter of 2003. Sales at the company’s P.F. Chang’s China Bistro units accounted for $155.0 million of consolidated revenues while sales at the company’s Pei Wei Asian Diner units accounted for $24.7 million of consolidated revenues.

Comparable store sales at the Bistro increased 3.3% for the third quarter of 2004 as compared to the third quarter of 2003. The increase was the result of customer traffic growth as well as a price increase of approximately 1% implemented at the beginning of the second quarter of 2004. Comparable store sales increased 4.6% for the five-week period ending August 1st, 3.0% for the four-week period ending August 29th and 1.9% for the four-week period ending September 26th.

During the third quarter of 2004, the company opened three new Bistro units (Emeryville, CA; West Des Moines, IA; and El Paso, TX) and three new Pei Wei units (Addison, TX; Roseville, CA; and Houston, TX).

The company intends to release its third quarter earnings results on October 20, 2004 at approximately 7:00 am ET. A conference call will be held later that same day at 1:00 pm ET. A webcast of the conference call can be accessed at www.pfchangs.com

P.F. Chang’s China Bistro, Inc. owns and operates two restaurant concepts in the Asian niche. P.F. Chang’s China Bistro combines high-quality, traditional Chinese cuisine with attentive service and a high-energy, contemporary bistro setting. Pei Wei Asian Diner offers a modest menu of freshly prepared Asian cuisine served in a relaxed, warm environment offering attentive counter service and take-out flexibility.

Page 1 of 4

The statements contained in this press release that are not purely historical, including the company’s estimates of its revenues, earnings and comparable store sales, are forward-looking statements. The accuracy of these forward-looking statements may be affected by certain risks and uncertainties, including, but not limited to, the company’s ability to locate acceptable restaurant sites; open new restaurants and operate its restaurants profitably; the company’s ability to hire, train and retain skilled management and other personnel; the company’s ability to access sufficient financing on acceptable terms; changes in consumer tastes and trends; national, regional and local economic and weather conditions; changes in costs related to food, utilities and labor; and other risks described in the company’s recent SEC filings.

Page 2 of 4

P.F. Chang’s China Bistro
Supplemental Sales Information
Year of Unit Opening (1)


	Pre-1998			1998			1999			2000			2001			2002			2003			2004		Total
Units		13			10			13			16			13			14			18			11		108
Sales (000)
1Q04		21,930			15,815			19,467			24,629			19,831			18,613			25,687			4,151		150,123
2Q04		21,590			15,521			19,510			24,498			19,170			17,940			24,999			9,290		152,518
3Q04		21,291			15,708			19,727			24,782			18,849			17,867			25,132			11,651		155,007
2004		64,811			47,044			58,704			73,909			57,850			54,420			75,818			25,092		457,648
Average Weekly Sales (AWS)
1Q04		129,761			121,654			115,188			118,409			117,347			102,268			109,773			101,238		115,302
2Q04		127,753			119,392			115,446			117,777			113,429			98,574			106,835			97,784		112,477
3Q04		125,981			120,830			116,726			119,144			111,530			98,169			107,402			96,298		112,161
2004		127,832			120,625			115,787			118,444			114,102			99,670			108,003			97,636		113,279
Year-Over-Year Change in AWS
1Q04		2.5	%		0.4	%		3.6	%		6.0	%		5.4	%		3.5	%		-23.8	%		—		1.2	%
2Q04		1.0	%		-0.2	%		2.5	%		3.1	%		3.2	%		4.2	%		-15.0	%		—		-0.7	%
3Q04		1.0	%		1.8	%		4.9	%		3.9	%		4.1	%		6.0	%		-6.8	%		—		0.6	%
2004		1.5	%		0.7	%		3.6	%		4.3	%		4.2	%		4.6	%		-12.5	%		—		0.4	%
Year-Over-Year Change Comp Store Sales (2)
Units		13			10			13			16			13			14			5			—		84
1Q04		2.5	%		0.4	%		3.6	%		6.0	%		5.4	%		6.8	%		—			—		4.0	%
2Q04		1.0	%		-0.2	%		2.5	%		3.1	%		3.2	%		4.8	%		-13.7	%		—		2.3	%
3Q04		1.0	%		1.8	%		4.9	%		3.9	%		4.1	%		6.0	%		-2.1	%		—		3.3	%
2004		1.5	%		0.7	%		3.6	%		4.3	%		4.2	%		5.7	%		-3.6	%		—		3.2	%

(1) Includes all restaurants opened in the period indicated.

(2) A unit becomes comparable in the eighteenth month of operation.

Page 3 of 4

Pei Wei Asian Diner

Supplemental Sales Information

Year of Unit Opening (1)


	2000			2001			2002			2003			2004		Total
Units		1			4			11			17			14		47
Sales (000)
1Q04		888			2,356			6,040			9,130			1,256		19,670
2Q04		877			2,254			5,861			8,924			4,902		22,818
3Q04		849			2,138			5,689			9,009			6,999		24,684
2004		2,614			6,748			17,590			27,063			13,157		67,172
Average Weekly Sales (AWS)
1Q04		68,328			45,318			42,236			41,311			41,862		42,855
2Q04		67,464			43,350			40,983			40,381			44,161		42,255
3Q04		65,273			41,120			39,789			40,763			41,658		41,346
2004		67,022			43,263			41,003			40,818			42,577		42,088
Year-Over-Year Change in AWS
1Q04		2.3	%		-1.4	%		4.8	%		-21.2	%		—		-4.1	%
2Q04		4.3	%		0.6	%		2.4	%		-23.0	%		—		-6.1	%
3Q04		4.3	%		-0.1	%		1.6	%		-14.4	%		—		-4.8	%
2004		3.6	%		-0.3	%		2.9	%		-18.3	%		—		-5.0	%
Year-Over-Year Change Comp Store Sales (2)
Units		1			4			11			5			—		21
1Q04		2.3	%		-1.4	%		4.2	%		—			—		2.3	%
2Q04		4.3	%		0.6	%		2.4	%		-2.8	%		—		1.8	%
3Q04		4.3	%		-0.1	%		1.6	%		0.6	%		—		1.2	%
2004		3.6	%		-0.3	%		2.6	%		—			—		1.7	%

(1) Includes all restaurants opened in the period indicated.

(2) A unit becomes comparable in the eighteenth month of operation.

Page 4 of 4